What Does Homesteading in Taxes Mean?

Answer In many states, homeowners can receive a discount on their property taxes, known as a homestead exemption, on the home they live in. However, some homeowners are not aware of this powerful tool to ... Read More »

Top Q&A For: What Does Homesteading in Taxes Mean

What does levying taxes mean?

According to, if you are issued a Notice of Levy, the IRS may confiscate and sell your property in order to satisfy taxes you owe. Property confiscated may be real estate, vehicles, boats, ... Read More »

What does it mean to claim yourself on your taxes?

When you claim yourself on taxes you are claiming a personal exemption;this exemption reduces your taxable income by $3,650 (as of 2010). You cannot claim this exemption if someone else meets the t... Read More »

What does"certificate of redemption"mean in real estate taxes?

"Redemption" is a real estate term that means payment of taxes that had been overdue and were sold to a third party. A certificate of redemption is a receipt which serves as proof that any overdue ... Read More »

What does"paid in arrears"mean related to property taxes?

To pay an item in arrears, is to pay for a bill after it is due, not prior to its occurrence. For example, by paying property taxes in arrears, a property owner is paying them after the taxes have ... Read More »