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 How do you know if....

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HacidicEnforcer
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Number of posts : 128
Age : 38
Field : I.T.
Registration date : 2009-01-04

PostSubject: How do you know if....   Mon Jan 19, 2009 7:58 pm

Is this property subject to property tax and have any applicable ad valorem property taxes been levied in full for this year for this property?

I live in an apartment and am trying to file my taxes. How am I supposed to know this?
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straboh
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Location : Wichita Ks
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PostSubject: Re: How do you know if....   Mon Jan 19, 2009 10:44 pm

Call your landlord or the office where you live, explain the situation and the fact that you need to know for tax purposes and they should be able to help you out, or deal with the IRS over the phone. In addition, you should be able to just call H&R Block and they are usualy nice enough to tell you how to answer tax questions on the forms. They are typically very helpful even if you are not using their service to file.

The phrase "Ad Valorem" is Latin for "according to value". By definition, an Ad Valorem tax is levied by the local government at the municipal or county level and is assessed to a property by multiplying the current tax rate by the assessed value or " fair market value " of a given property by a county tax assessor. Property ad valorem taxes are the major source of revenue for state and municipal governments and help to finance the building and maintenance of public schools, construction and street repairs, waste management and many other major needs of a municipality.

Now, as a renter, ( and if your complex is subject to the tax ) the complex that you live in may help to pay for this tax anually by adding it to your rent so that they are not slammed with it at the end of the physical year. If your complex does this, it may be legal here in Kansas as renters are often liable for a portion of the levied tax according to the tax laws in many but not all states.

I would assume that your complex is up to date and current on thier taxes ( one would hope anyway ) but I guarantee you that even if they are not, they will tell you that they are. BUT whether they are truthful or not is on them and not you. You are not responsible for what they do with the cash after it leaves your hand as a renter even if you do contribute to this tax.

I am rambling so, in closing, call your Complex Office, the IRS or a tax prep service and ask them how you should answer that particular question. Always make sure that you cover your backside, because I guarantee there is SOMEONE out there just itchin to kick it. Expecially the I.R.S.
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HacidicEnforcer
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Number of posts : 128
Age : 38
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PostSubject: Re: How do you know if....   Sun Jan 25, 2009 3:12 pm

Thank you!

Wow, did you google it or are you naturally that geeked out? Razz Razz Razz Razz

See you in class!
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HacidicEnforcer
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Number of posts : 128
Age : 38
Field : I.T.
Registration date : 2009-01-04

PostSubject: Re: How do you know if....   Sun Feb 01, 2009 1:43 pm

Sweet!

Just filed both Federal and State taxes and will hopefully be getting my refund in 8-15 days which means I can pay another 6 months of rent so I can stay in school for another 6 months without that stressor on my back.

Ok, now to buckle down and focus so I can do this thing!

Anyone else file their taxes yet?
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