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  • Writer's pictureMeagan Roe

Property Taxes & How they impact your homeownership costs

Property taxes can be a significant cost of homeownership, and it's important to understand how they work and how they impact your budget. Keep reading below!

Property taxes are based on the assessed value of your home. Property taxes are used to fund schools, roads and public safety (like fire departments).

While property taxes can vary by location, there are a few things to keep in mind:

* Property values: The higher the value of your home, the higher your property taxes are likely to be.

* Tax rates: Tax rates can vary depending on where you live. You can call Cowlitz or Lewis County assessor's offices to determine the tax rates in your area.

* Home improvements: If you make improvements to your home, your property taxes may increase to reflect the higher assessed value.

Make sure you speak with your lender about how property taxes will affect your mortgage payment and what your options are if your taxes increase after you purchase your home.

Doing your research on property taxes beforehand will help you avoid any surprises in the future.

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