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Property taxes are determined using two factors: the assessed value of the home and property, and the tax rate of the municipality in which it resides. A credit line, or amount of money owed or not owed on the house, has nothing to do with the taxes. How to Calculate Property Taxes How to Calculate Property Tax Liability Assessed Values vs. Fair Market ValueSource:
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by Answerbag Staff on March 2nd, 2011
| 1 person likes this
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I am disabled and am getting "back pay" from social security. i have been living on a home equity loan and other credit cards, is there any way not to pay taxes on that lump sum.
by Anonymous on September 28th, 2008
| 1 person likes this
You're reading Does getting a home equity line of credit change your property tax basis?
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