Did you just purchase a home? Planning on it?

I'm always looking for information to pass on and thought this was good to know. An important consideration when purchasing a new home is future taxes - this comes from Oakland County - plan accordingly:

State Equalized Values (SEV's) and Taxable Values for a New Property

According to the Oakland County Equalization Office, when a property, or interest in a property, is transferred, the following year’s State Equalized Value (SEV) becomes that year’s Taxable Value. In other words, if you purchase property, your Taxable Value for the following year will be the same as the SEV. The Taxable Value will then be “capped” for the second year following the transfer of ownership. Please note this valuable information.

Home buying whether for primary residence or investment purposes has never been better - take advantage of tax credits - First time home buyers (up to $8,500) or "repeat" home buyers (up to $6,500) - check the fine print.   edee

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