The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>Other Taxes

GAY couple to file property taxes on a new home for 2007?


We are a gay couple in Texas and since texas dont recognize gay morals. How would we file for property taxes on a new home for 2007?

Texas property tax is not based on your morals....
The Tax Appraisal District where your property is located will pick up your purchase and make an appraisal and notify the person or persons whose name is on the deed of the value they have appraised. You will have a period (usually about 3 mos) after that to appeal to the apprisal board if you feel the value rendered is out of line.

After the appeal (and any adjustment), final appraisal value will be forwarded to each the various taxing agencies (State, Local, School, Water Dist, MUD, Road, etc.) and they will bill you (or your mortage company if they are paying the taxes from your escrow ).

regards,
Texian13

Gay has nothing to do with property taxes. Once a year, the state will send you a notice to the primary or first name on the mortgage. Normally, you would have instructed the mortgage company to withhold from you on a monthly basis, and amount equal to 1/12 of the combined anticipated cost of property taxes, and fire (home owners) insurance. This is held in a escrow account. Then, it is the mortgage company that pays the bills for you.

If you did not set that up, then the home owner(s) will directly pay the property tax to the state tax office, and the insurance to the appropriate company.

I'm sure Texas does recognize gay morals, it just doesn't approve of them. They have no affect on your property tax.

Gay or straight doesn't matter. And you don't "file" property taxes. They send you a bill, and you pay it, or if your mortgage has an escrow account set up, the lender will pay the property tax from the escrow account.

If you're asking what you can deduct on your federal tax returns, it depends on who is on the deed, who is on the mortgage, and who actually made the payments. If you are both on the deed and the mortgage, and you split the payments, you can split the deduction also and each take half of it on your federal return.

Being gay has nothing to do with filing taxes unless the state you are in recognizes civil unions. I believe that Texas does not recognize civil unions.

Each of you will need to deduct your share of property tax for the home assuming that you itemize your deductions.

Tags
  Boston   Austin   Atlanta   Other - Business & Finance   Other Taxes   United States Taxes   United Kingdom Taxes   Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes
Related information
  • Philippines Income Tax Problem (02)?

    Tax withheld on the compensation income? P37,750. (di ko rin sigurado) Using the Schedule Below: Not over P10,000鈥︹€︹€︹€︹€︹€︹€︹€︹€︹€︹€︹€︹€?5% Over P10,000 but not over P30,000鈥︹€︹...

  • I did not file taxes for 2006, now what happens??

    If you did not ask for an extension, and owe money, you are going to get slammed with penalities and late fees. That is the best scenario. The worse case scenario is getting federally charged wit...

  • 1st Tax return. What is deductable?

    Since you don't say what your business is, it's impossible to give you an answer about what you can deduct. Clothes and makeup, no. You might be able to deduct part of the mobile phon...

  • Is there anyway something can be donated to you if you arne't an organization for a tax deduction??? HELP!!

    No, a donor may only take a tax deduction for a donation to a registered 501(c)3 charity, never to an individual. Even if a donation is given to a charity, if it's given with the provision th...

  • When does the I.R.S start processing taxes for the year 2007?

    January 1, 2008 or the first business day of the new year. There are people that actually file sooner than that, but the govenment is not goint to start until the first business day of each new yea...

  • My daughter is pregnant and my ex wants to claim her on his taxes?

    If you provided support (housing, food, ect) for you daughter for more than 6 months of this tax year (2007), you are eligible to claim your daughter as a dependant on your taxes. Your ex is not el...

  • Certificate of empolyment samples?

    Never heard of a "certificate of employment" and I've been working for over 40 years.

    ...
  • What percent of U.S. taxes are paid by the rich, and how much is paid by the middle class?

    Depends on just how you define rich, and middle class. But the top 5% in income pay a little over half of the total federal tax collected, the top 10% pay about 2/3 of the total, and the top 50% p...

  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster