Quote:
Originally Posted by Schaumburger
Regarding property taxes if an owner is not homesteading: Is there a way to calculate how much property tax will be based on the sale price of the home if a buyer is not homesteading? A Village sales agent told me to figure the property tax will be approximately 1.5% of the sale price of the home. Does that number sound correct?
Regarding homeowner's insurance if an owner is going to rent out the house for part of the year: A Village sales agent said that to save money on homeowner's insurance, an owner who is going to rent out the house for part of the year, and then stay in the home during non-rental times, should not mention to their insurance company that the home is being rented out for part of the year. The owner should just state to their insurance company that this is a vacation home that the owner will be using part of the year. But is it legal not to tell one's homeowner's insurance company that a house will be rented out for part of the year?
For example, say I don't tell my insurance company that I am renting out my home during snowbird season. If an accidental fire breaks out while the house is being occupied by tenants, could my insurance company deny paying a claim because the house was temporarily occupied by tenants, and I did not disclose this information to the insurance company to save money on my homeowner's insurance premium?
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just remember those agents for the village have a job to do, and that is to sell homes :::: even to the point to advise you to commit insurance fraud!