What Is 1031? also referred to as a 1031 Exchange or Like-Kind Exchange, and falls under Section 1031 of the Internal Revenue Code. This tax section deals with property value in sale of business or trades and other like sales. Contact us to get your property exchange prepared & filed by a qualified
Ad Valorem Taxes
professional.
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Definition:
In terms of property taxes, the total revenue to be generated by the tax.
Carrying Charges
Definition:
Various costs that are incidental to ownership (e.g., taxes insurance costs and maintenance expenses).
Operating Expenses
Definition:
The actual cost of operating income - producing property, including utilities and similar day-to-day expenses, taxes, insurance and reserves for the replacement of items that wear out.