Real Estate Taxes

The video tutorial explains estate taxes, focusing on property taxes and taxes on gains from property sales. It covers local property taxes, including mileage rates and exemptions like homestead exemptions. The tutorial also discusses state and federal taxes on property disposition, highlighting deferments such as 10/31 exchanges. Exemptions for gains, particularly for primary residences, are detailed, along with short-term and long-term capital gains tax rates.

Explain the concept of 'realized gain' in the context of property sales.

What is the significance of the 10/31 exchange mentioned in the text?

How does the duration of property ownership affect capital gains tax rates?