When you're preparing to sell your luxury home in Greenwich, CT, you may encounter terms like "real estate taxes" and "property taxes". But are they actually the same thing? At Joy Metalios and the Metalios Team, we believe an informed seller is a successful one. Let's break down the differences — and similarities — so you can move forward with confidence.

Understanding the Basics: Real Estate Taxes vs. Property Taxes

In most everyday usage, "real estate taxes" and "property taxes" are used interchangeably. However, technically speaking, there is a slight difference:

• Real estate taxes specifically refer to taxes levied on immovable property like land and buildings.
• Property taxes can include real estate, but also tangible personal property such as cars, boats, or business equipment — depending on local laws.

For homeowners in Greenwich, Riverside, Cos Cob, and Belle Haven, the good news is this: when you hear about your property tax bill, it almost always refers exclusively to your real estate — your land and home.

How Property Taxes Impact Home Sellers in Greenwich, CT

If you're planning to sell your home in Riverside or Belle Haven, understanding property taxes is crucial. Buyers will often inquire about annual property taxes, and taxes can even affect your final net proceeds. Here's what you need to know:

• Prorated Taxes: At closing, property taxes are typically prorated between the buyer and seller.
• Disclosure: Accurate tax amounts must be disclosed during the listing process.
• Appeals: If you believe your home is over-assessed, you can challenge the assessment to potentially lower your taxes.

At Joy Metalios and the Metalios Team, we walk you through every step of the home-selling process, including helping you understand local tax implications. Our deep knowledge of Greenwich’s neighborhoods ensures that you stay informed and protected.

What About Special Assessments?

Beyond standard property taxes, some homeowners may face special assessments for things like sidewalk improvements or sewer upgrades. These are separate from annual property taxes and can impact your closing costs. It’s another reason why having an expert team on your side matters when preparing to sell your home.

Here’s What Sets Our Team Apart:

• In-depth knowledge of property tax structures in Greenwich, Riverside, Cos Cob, and Belle Haven
• Personalized guidance on tax disclosures and prorations during your sale
• Connections with trusted local attorneys and tax experts
• Proven strategies to maximize your home’s value despite potential tax impacts

Sell Your Home with Confidence

Trust Joy Metalios and the Metalios Team to deliver expert guidance, top-tier service, and exceptional results. Contact the team today to get started on your successful home sale in Greenwich, CT.