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Renting your vacation home for more than 14 days and rent the property for more than 2 weeks, you will have to report the income earned.
Each year you must pay your property taxes whether it is escrowed through your mortgage company or you pay it out of pocket yourself.
If your home was evaluated before housing prices fell, it should be re-assessed based on today's market value. Do some investigating and find out what similar homes in your area have been selling for.
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The improvement might cost you money, but the savings on property taxes each year may well pay for the improvement in a few years and you will still end up paying less in property taxes.
Some areas have long periods while others have very short periods to file an appeal. Oddly, the areas with the higher property taxes seem to have the shortest periods to appeal.
If you're interested in beginning to invest in tax sale property, here's an insider tip that will save you a lot of time and money: skip the tax sale. There are other ways to go about getting tax delinquent property. The tax sale is a big mess, and will cause you more headaches than it's worth.
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