Are Real Estate Taxes And Property Taxes The Same?

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Real Estate

Are Real Estate Taxes And Property Taxes The Same?

Yes is the answer to this question. I believe the confusion comes from different articles about real estate. The author of that particular article may refer to property taxes as real estate taxes or vice versa.

When you purchase a home your lender will set up an escrow account for you. Every time you make a home payment 1/12 for the year of your property taxes in your home insurance will be set aside in this escrow account. Twice a year the lender will pay your property taxes and once a year pay your homeowners insurance.

This is not to be confused with capital gains. Although capital gains tax is a real estate related issue, it typically only affects people who have lived in a home for less than two years or a couple selling a home over $500,000.

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