Tax Realty Consultant

Investors who purchase commercial or residential property from a developer within a proclaimed Urban Development Zone (UDZ), and subsequently let it out at market rates, may write off a portion of the purchase price against income. Provided certain conditions are met, the so-called ‘UDZ allowance’ therefore offers potential investors a significant incentive to purchase [...]

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The City of Oshawa collects taxes on behalf of the Region of Durham, the School Boards, and the City. The only portion controlled by the City is the City’s taxes as stated on your tax bill. Regional taxes are collected to provide Regional services such as policing and social services, school taxes are [...]

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There are two rates for the Illinois state sales tax: 6.25% for general merchandise and 1% for qualifying food, drugs and medical appliances. The property tax is the largest single tax in the state, and is the major source of tax revenue for local government taxing districts. The property tax is a local—not state—tax, imposed [...]

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As far as possible, no individual should own more than one self-occupied residential property. This is because under the provisions of Income Tax Act, only one self-occupied house property is completely exempt from being taxed on its notional rental value. Thus, if one individual owns more than the residential house property for self-occupation, then only [...]

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Similar to many California counties, Alameda County, allows for an Informal Request for the Decline in Market Value Reassessment (Prop. Eight) to be filed, reducing a property owner’s annual property tax bill. This is not a formal property tax appeal. Instead, this is a one page form that any property owner can fill [...]

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