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Do You Know How To Unlock the Money in your home?

Borrowing from the equity in your home could boost its overall value.
Did you know your home may be gaining equity? You can borrow from that equity to bolster its overall value or to finance other major needs.

What is home equity, and what can you do with it?
Your home may be building value as its market assessment increased and you pay down your mortgage. You have options to borrow against it with a home equity line of credit to help you fund home upgrades and cover emergency household expenses- or cover big purchases unrelated to your home.

Advantages of home equity line of credit
Depending on how much equity you have in your home, you may be able to borrow more money with a home-equity line of credit than you could from a personal loan. And interest rates on home equity lines of credit are typically lower than other forms of credit, such as credit cards or personal loans.

Before you apply
Keep these three things in mind before you tap into your home’s equity
1. The application process will include a review of your current income, debts, and credit history, and you’ll need a home appraisal. Interest rates can vary from lender to lender.
2. Make sure you;ll be able to manage your line of credit repayment schedule and make your new monthly payments.
3. Is this type of account the best fit for your needs? Talk to a home mortgage consultant if you’re not sure.

4 Things to Know About Miami Property Tax Payments in 2018

4 Things to Know About Miami Property Tax Payments in 2018
On January 26, 2018
Categories: Luxury Lifestyle Blog

Owning a property or several properties is a financial commitment that takes proper planning. One annual expense that’s guaranteed is property taxes. It’s imperative that homeowners in Miami are aware of their responsibility in paying these taxes appropriately and on time.

Here are four important factors to know about paying property taxes in Miami.

1. Tax Year and Annual Notices
The tax year runs the same as the calendar year, from January to December. At the end of 2017, there was some confusion in the media about whether 2018 property taxes could be paid prior to the beginning of the New Year. This is not an option, as tax rolls are not open until November first of 2018. Meaning, as a property owner, you will not receive your assessed tax amount until November first at the earliest. Therefore, it is not possible to pay your 2018 property taxes until that point. This is generally the case, and property owners should be aware to expect their tax notices on November first of each year.

2. Discounts Available for Early Payment
Property owners should know that they are eligible for discounts on property taxes if they are paid by certain deadlines.

If taxes are paid in November, you will save 4%.
If paid in December, you will save 3%.
If paid in January, the discount is 2%.
If paid in February, the discount is 1%.
If a property owner waits until March to make a payment, then the entire gross tax amount is owned. All property taxes must be paid by April first. If this deadline is missed, owners will be penalized with a 3% interest penalty added to the initial tax amount, plus advertising costs and fees. It’s also important to note that delinquent taxes must be paid by cashiers check or money order.

3. Payment Options
Property taxes may be paid in three different ways.

Online payment can be made by searching for the property on the Miami-Dade property tax site. If you choose this option, you may pay by e-check or credit card. Note that if you pay by credit card, 2.2% of the tax amount will be added as a convenience fee.
The second option is to pay by sending check or money order through the mail. You will need to make your check payable to the Miami-Dade County Tax Collector. You cannot send cash through the mail.
The third option is to pay in person, but only cash is accepted as these sites. Credit card payments are not accepted as an in-person payment.

4. Value Adjustment Board Petitions
If a property owner petitions the assessment of the value of their property, the owner must still pay 75% of the petitioned property’s assessed Ad Valorem Taxes, and 100% of the property’s Non-Ad Valorem Assessments, which include services on the property based on the assessed value, by March 31, 2018. If this payment is not made by the March 31, deadline, the petition to reassess the value of the property will be denied by the Value Adjustment Board.
Original content Miami Real Estate.com

Best Restaurants in Miami-Dade

Whether you’re looking for an amazing cup of coffee on the way to work or a fine dining experience with friends on the weekend, the Miami-Dade area has much to offer. We did some of the foot work for you and checked out the top-rated restaurants on Yelp. Look at what we found! ☕️ Breakfast … Continued

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