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Top related persons:
Richard Auxier - 2 Jonathan Ernst - 1 homeownership - 1 Vince Darling - 1 you've - 1 Kevin Brady - 1 — I'd - 1 Nicole Sullivan - 1
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Alexandria , Virginia Zillow Forest Lake , Minnesota New York Detroit
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Urban - 2 Brookings Tax - 2 Stonebridge - 1 Wealthspire Advisors - 1 Prism Planning - 1 Istock - 1 Getty - 1 Lincoln Institute of Land Policy - 1

Search resuls for: "Richard Auxier"


5 mentions found


☆ Here are 3 costly financial surprises for first-time homebuyers — and how to prepare for them
  + stars: | 2023-09-01 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +3 min
Jonathan Ernst | ReutersWith record-high home prices and soaring mortgage interest rates, homeownership has become increasingly unaffordable — and hidden costs can surprise first-time buyers, experts say. Here are three of the most common surprise homeownership expenses and how to prepare for each one, according to experts. Property taxesAs a first-time homebuyer, it's easy to overlook property taxes since you've never paid those levies directly. Home maintenanceThe cost of home repairs and maintenance can also be a hidden expense for first-time homebuyers. As a first-time homebuyer, you need to make sure you have a sufficient cushion for surprises — I'd argue 5% of the home's purchase price at least.
Persons: Jonathan Ernst, homeownership, Vince Darling, you've, Richard Auxier, Kevin Brady, — I'd, Nicole Sullivan Organizations: Reuters, Stonebridge, Urban, Brookings Tax, Wealthspire Advisors, Prism Planning Locations: Alexandria , Virginia, Zillow, Forest Lake , Minnesota, New York
☆ 5 cities with the highest property tax rates. Here's why rates can vary so much from place to place
  + stars: | 2023-08-22 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +2 min
Property tax is "really instrumental" as a local revenue source, but stressed that every community has different priorities and budgeting goals. Property taxes have 'so many variables'"With property taxes, it's pretty simple stuff," said Richard Auxier, senior policy associate at the Urban-Brookings Tax Policy Center. watch nowThis is why your next-door neighbor's property tax bill can be so different from yours, Auxier explained. Generally, cities tend to have more expensive property tax rates if there's high property tax reliance, low property values, or more robust local government spending, the report concludes. 5 highest effective property tax rates in 2022Detroit skyline Reese Lassman | EyeEm | Getty Images
Persons: Katherine Loughead, Loughead, Richard Auxier, Auxier, Reese Lassman Organizations: Istock, Getty, Lincoln Institute of Land Policy, Minnesota Center, Fiscal, Center for State Tax, Tax, Urban, Brookings Tax, Reese, EyeEm Locations: Detroit
☆ Why the IRS says to hold off filing your tax return if you received a relief check in 2022
  + stars: | 2023-02-08 | by ( Mike Winters | ) www.cnbc.com   time to read: +2 min
The agency is clarifying whether these special state tax rebates should be taxed federally, an IRS spokesperson tells CNBC Make It. The IRS recommends that tax filers who qualified for relief checks wait until "additional guidance is available or consult with a reputable tax professional." The IRS also recommended that those who have already filed a 2022 tax return not file an amendment. Each state relief program is run differently, too, which adds to the confusion. However, the site also says that the "department cannot comment on any federal tax consequences of the rebates and relief payments."
☆ Massachusetts voters approve 'millionaire tax.' What it means for the wealthy
  + stars: | 2022-11-10 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +1 min
If you make more than $1 million a year in Massachusetts, you may soon be subject to a "millionaire tax" approved by voters this week through a ballot initiative. The new law creates a 4% tax on annual income above $1 million, on top of the state's current 5% flat income tax, aiming to fund public education, roads, bridges and public transportation. It's expected the levy will affect roughly 0.6% of Massachusetts households, according to an analysis from the Center for State Policy Analysis at Tufts University. However, California voters rejected a similar tax, aiming to pay for zero-emissions vehicle programs and wildfire response and prevention. "It's very state-specific," Auxier said, explaining how the tax ballot initiatives may hinge on funding priorities, current state tax structure and other factors.
☆ 'Millionaire tax' plans are on the ballot in California and Massachusetts. Here's what that means for taxpayers
  + stars: | 2022-10-29 | by ( Kate Dore | Cfp | ) www.cnbc.com   time to read: +3 min
Whether voters support higher income taxes or not, revenue plans often affect the results on Election Day, experts say. "And we've seen them embrace income tax changes that would affect many." "Massachusetts has been talking about creating a progressive tax rate for a long time," said Richard Auxier, senior policy associate at the Urban-Brookings Tax Policy Center, noting the current flat income tax is 5% regardless of income. "Part of this is they want that ability to shift some of the overall state's tax burden up the ladder," he said. By contrast, California has a graduated state income tax system, with a top rate of 13.3% for individuals making over $1 million per year.
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