American property tax is the basic guarantee for permanent possession of real estate. The main body of real estate tax collection is county government, municipal government and school district. Since 1792, it has a long history. After long-term operation and adjustment, a relatively perfect tax policy system has been formed. Every state in the United States collects real estate tax every year, which is mainly composed of housing loan interest rate, insurance premium and local tax.
However, the standards of collecting real estate tax vary from state to state, and the tax rate ranges from 1% to 3%, which changes every year according to the budget needs of local governments. At the same time, the frequency of collecting real estate tax is different in different regions. For example, Philadelphia only collects it once a year, and New Jersey collects it four times a year. If the tax is stopped, the ownership of the house belongs to the US government, and the government has the right to dispose of the property that has been delayed for a long time and does not pay real estate tax.
The tax base of American real estate tax is determined by housing evaluation, and the government regularly estimates the fair price of the housing market. Under the condition of constant tax rate, the higher the housing evaluation, the more taxes need to be paid. The real estate tax rate in the United States changes frequently, and its determination method is that the government sets the real estate tax rate according to the local real estate market value. The total real estate tax rate is the sum of local tax rates at all levels below the state level, which generally consists of three parts: state tax rate, city tax rate, county tax rate and school district tax rate.
The result of residential evaluation mainly depends on the surrounding residential price, plot size, residential area, residential type, residential years, residential facilities and other factors. According to American law, the appraised value of real estate is determined by a certain proportion of market value, and the proportion stipulated by California is 40%. Real estate appraisal consists of two parts: one is the value of the house itself (mainly based on the value at the time of purchase, decoration appreciation and market appreciation), and the other is the value of the land. The laws of the federal government divide real estate into main houses.
For investment houses, such as inheriting famous ancient houses or looking at rising land, this kind of real estate expenditure is not self-operated houses, but investment, and all property taxes/local taxes can only be deducted from the taxes suitable for self-operated houses. Therefore, Chinese people are prepared to invest overseas and study relevant laws in the process of overseas fund-raising, which can effectively save tax expenditures.
In addition, if real estate includes rental income, the degree of participation in rent management also has an important impact on the tax base. If overseas investors do not manage the house very well, they simply rent it to guests and don't spend time on management. The rent accounts for 30% of the total income. The US Internal Revenue Service (IRS) has many concessions and exemptions for overseas owners who actively participate in housing management, that is, tax = rental income-expenses (loan interest, real estate tax, repair fees, depreciation, etc.