Steve Schneeberger
Edina Realty
3930 West 49 1/2 Street
Richfield, MN, 55423
Office: 952-915-7997
Cell: 612-581-7313

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Local news for Richfield, MN continually updated from thousands of sources on the web.
How do property taxes work? | Print |

How do property taxes work?


Property taxes are what most homeowners in the United States pay for the privilege of owning a piece of real estate, on average 1.5 percent of the property's current market value. These annual local assessments by county or local authorities help pay for public services and are calculated using a variety of formulas.
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Rent vs. Buy Calculator

Am I better off renting or owning? This calculator will show you the financial differences between the two.
$   Current Rent
  % Est. tax bracket
$   Purchase Price
  % Down Payment
  % Interest Rate
    Mortgage Term (Years)
    Your Monthly Payment
$   Yearly Taxes?
$   Yearly Insurance?
    Total PITI
    How long will you own (typ. 7 yrs)

$   This is your rent over the period
$   This is mortgage over the period

REAL calculator

Calculate your mortgage repayments:

Loan amount: $
Down payment: $
Annual interest rate: %
Term of loan: years

Total interest:
$
Monthly payment:
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