Purchasing a home is no small task, and between closing costs, down payments, and monthly mortgage expenses, it might seem that buying a new home costs more than you thought. Anyone who has owned a home for a while knows that the list of expenses never really goes away, and there's one important item to remember even when your Spring Hill home is paid off and all repairs are complete: property taxes.
The How And Why
Even if a person owns their home outright, they still technically don't own the land it's on without ever having to make a payment to their local government. Property taxes in the United States date back to colonial times, in which colonials made payments to the King of England for the use of the land.
In today's context, property…