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Cities and counties would be allowed to enact a one-cent special purpose, local option sales tax for property tax relief. The bill, which takes effect Jan. 1, was lauded by some as a way to keep ...
Qualify for Tax Credits. Many people don’t realize that a tax credit is the equivalent of free money. Tax deductions reduce the amount of taxable income you can claim, and tax credits reduce the ...
Another strategy to reduce your tax bill on real estate investments is through a 1031 exchange. By using a 1031 exchange, investors can swap one real estate investment property for another and ...
Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable by means that are within the law. A tax shelter is one type of tax avoidance, and tax havens are jurisdictions that facilitate reduced taxes. [ 1 ]
The largest property tax exemption is the exemption for registered non-profit organizations; all 50 states fully exempt these organizations from state and local property taxes with a 2009 study estimating the exemption's forgone tax revenues range from $17–32 billion per year. [53] Exemptions can be quite substantial.
The four-bill package includes legislation increasing Georgia’s child-tax credit from $3,000 to $4,000, doubling the state’s homestead tax exemption from $2,000 to $4,000, and removing the cap ...
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Georgia's Senate Finance Committee plans a hearing on Monday on a bill limiting increases in a home's value, as assessed for property tax purposes, to 3% per year. The limit would last as long as ...