If you’re considering an inground pool as a home amenity, it’s important to understand the property taxes that can be associated with it. An inground pool can increase property taxes by up to 20%, depending on the size and shape of the pool.
What is an Inground Pool?
An inground pool is a type of swimming pool that is installed in ground level. This type of pool is often less expensive to maintain and can be located near other amenities, like a gym or beach.
An inground pool can also be great for people who want to keep their water temperature lower than the outdoors temperature. If you’re considering an inground pool as a home amenity, it’s important to understand the property taxes that can be associated with it.
An inground pool can increase property taxes by up to 20 , depending on the size and shape of the pool.
Types of Taxes Applied to an Inground Pool
An inground pool can be a great addition to your home swimming area. However, before you make the plunge into an inground pool, it’s important to understand what types of taxes may apply.
Here are four main types of taxes that may apply to an inground pool:
1. Property tax: When you have an inground pool on your property, you will likely pay property tax on it. This is because your pool is considered a land use feature and as such, it falls under the jurisdiction of municipal government.
2. Stormwater management fee: An inground pool may also require a stormwater management fee to be paid by the owner or tenant of the property where the pool is installed. This fee is designed to help manage and control water run off from the pool.
3. Special permit fees: Generally, the owner of an inground pool will be required to pay a fee for special permits that may be required by the municipality or county. These permits are typically issued by the municipality.
The fee for these permits is generally $25 per year. The fee is calculated based on a percentage of the total number of square feet of inground pools installed.
Benefits of an Inground Pool?
Inground pools are becoming more and more popular among home buyers as they offer a lot of benefits. Not only does an inground pool increase property taxes, but it also offers many other benefits. Here are 8 of the most common benefits of an inground pool:
1. Increased sun exposure: inground pools allow for a lot more direct sunlight to enter the pool than roofs or decks. This can lead to a higher water opacity (a measure of how bright and clear the water is), which can result in a better visibility and surface quality.
2. More comfortable swimmer: Anyone who has ever been in an open-air pool will know that it can be quite uncomfortable to swim in. With an inground pool, you can relax and enjoy your swimming while avoiding any potential discomfort or pain.
3. Great for exercise: An inground pool can be an excellent workout. With the added benefit of being able to enjoy a fine view of the water, swimming in an inground pool is a great way to get some exercise.
4. Easy maintenance: You don’t have to worry about any maintenance issues. With an inground pool, you don’t need to do much at all to keep it clean and sanitary. You can rinse out the pool with a hose and fill it back up with water.
5. Affordable: Compared to other pools, an inground pool is affordable. If you’re interested in getting one, it’s probably a good idea to shop for a used inground pool. This is because some of the more expensive ones can be dirty or damaged and require costly repairs.
6. You can use it for a variety of different recreational activities: In addition to swimming, you can also enjoy playing volleyball, tennis, and other sports.
7. It’s very easy to maintain: You just need to keep the water level high and the walls dry.
8. The water’s clean and clear: It can also be used for washing dishes, cleaning your face, brushing your teeth, or doing other household chores. A lot of people like to use it to dry their clothes while they’re out of the house.
Does an Inground Pool Increase Property Taxes?
An inground pool can be a really nice addition to a home, but it can also increase your property taxes. When you have an inground pool, you are making use of a body of water that is placed underground. This means that the pool is not considered taxable property.
However, if you have an egress pipe connecting your swimming pool to your home’s exterior, then your pool would be considered taxable property. So, depending on what type of pool you have and how it connects to your exterior walls, it might increase or decrease your property tax bill.
Tax Implications of an Inground Pool
An inground pool can have a significant impact on property taxes, depending on the size and character of the pool.
Typically, an inground pool will be assessed at a lower rate than a regular swimming pool. This is because an inground pool requires special permits and fees, which are not typically levied on other types of pools.
Additionally, an inground pool may also be considered to be a recreational property rather than a real estate property. As such, it might not be subject to municipal tax rates that are applied to other types of properties in your municipality.
However, if you own an inground pool that is used for recreation or pleasure purposes only, then you may owe no municipal tax liability whatsoever.
Conclusion
An inground pool can increase property taxes by providing additional income that could be used to pay for other government services. Overall, an inground pool may be beneficial to a municipality because it can bring in more revenue and help cover some of the costs associated with growing population.
.