Property taxes shape affordability, buyer demand, and seller proceeds. Understanding them now can save you stress and money later.

When deciding where to buy or how to position your home for sale, there’s one thing you need to look at: property taxes, as they can affect your monthly payments, closing costs, and even how quickly a home sells. Whether you're a buyer trying to stay within budget or a seller looking to attract strong offers, understanding local taxes is key. Here’s what you need to know:

What are property taxes? Property taxes are based on two main factors: your home’s assessed value and the local tax rate. The money collected goes toward essential community services like schools, roads, and emergency response. While they might seem like just another bill, property taxes play a big role in determining how affordable a home really is.

"From affordability to buyer appeal, property taxes shape more than most people realize."

How property taxes affect buyers. If you’re purchasing a home, property taxes aren’t optional. They’re typically rolled into your monthly mortgage payment through an escrow account. That means a higher tax rate translates to a higher monthly cost. For buyers, this makes it crucial to consider taxes when asking the all-important question: How much house can I afford?

What sellers should know. For sellers, property taxes also matter. Your current tax record can influence buyer interest, since potential buyers will compare your home’s tax burden against others in the area. This can affect not only how quickly your home sells but also your net proceeds at closing.

If your property taxes are higher than those of nearby homes or if buyers are weighing your listing against lower-tax alternatives, it’s important to account for that in your selling strategy.

From affordability to buyer appeal, property taxes shape more than most people realize. Whether you’re entering the market as a buyer or preparing to sell, keeping taxes in focus will help you protect your budget and strengthen your position.

If you’re unsure how property taxes will affect your next move, reach out at (801) 845-9502 or [email protected]. I’ll help you understand the numbers and make your next step stress-free.