How much do you pay in Property Taxes?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.

How much are your annual property taxes?

Poll ended at Sun Apr 26, 2015 12:11 pm

Less than $1,000
20
5%
$1,001 - $2,500
80
18%
$2,501 - $5,000
120
28%
$5,001 - $7,500
82
19%
$7,501 - $10,000
60
14%
$10,001 - $15,000
46
11%
$15,001 - $20,000
10
2%
$20,000 +
15
3%
 
Total votes: 433

penumbra
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Re: How much do you pay in Property Taxes?

Post by penumbra »

I'll play.
So California region, 38 yr old house, value about $2.5 million. Taxes $5000.
Prop 13 beneficiary. It's not a level playing field.
dolphinsaremammals
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Re: How much do you pay in Property Taxes?

Post by dolphinsaremammals »

Rainier wrote:they have socialized garbage collection
:D :D :D :D :D That's a new one on me. Trying to figure this out. Is my town water socialized? What about the fire department? :D :D :D :D :D
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stemikger
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Re: How much do you pay in Property Taxes?

Post by stemikger »

A tad bit below $4,000. I live in a Townhome with only 7 other houses attached, not a development. It's worth around $380,000 in Staten Island, New York and around 2,000 SF.
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denovo
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Re: How much do you pay in Property Taxes?

Post by denovo »

celia wrote:Prop 13 reset the property tax back to 1% of value back in 1978 with an annual tax increase of 2%. Since the increased value of the house has grown more than that most years, we are now paying 0.3% of its value now.

This. You have people paying anywhere from like 0.3 to 1.3 percent of the real value of their home in property taxes depending on when they bought. My parents in CA have a home that is worth around $900,000 , but pay only $3,000 or .33 percent in property taxes because of that law.
Last edited by denovo on Wed Apr 22, 2015 4:36 am, edited 1 time in total.
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stemikger
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Re: How much do you pay in Property Taxes?

Post by stemikger »

TomatoTomahto wrote:We have a nice home, but it's not a mansion. We pay $38k/year in northern NJ, on a private road so the neighbors have to chip in for paving, sewer is additional. I wish that i could "put" the house to the town at 90% of appraised value when we decide to leave; there oughta be a law.

Btw, livesoft mention state income taxes. Our NJ marginal rate is 8.97%. Easy come, even easier go.
Wow!!! I know some kids out of college for a few years that aren't even making that yet. My Brother-in-law and Sister-in-law both doctors pay around the same also in North Jersey. It was always unbelievable to me. Living in Staten Island, Jersey seems to be the place they flock to. I don't that is as true today, but when I first got married 23 years ago, it was almost a given a young couple would get married rent in Staten Island a year or two and buy a house in Jersey and I always said the same thing, you can't get me down there with those Property Taxes.
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Ignatious P. Daily
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Re: How much do you pay in Property Taxes?

Post by Ignatious P. Daily »

Grt2bOutdoors wrote:
TomatoTomahto wrote:We have a nice home, but it's not a mansion. We pay $38k/year in northern NJ, on a private road so the neighbors have to chip in for paving, sewer is additional. I wish that i could "put" the house to the town at 90% of appraised value when we decide to leave; there oughta be a law.

Btw, livesoft mention state income taxes. Our NJ marginal rate is 8.97%. Easy come, even easier go.
Any wonder folks are leaving in droves?
My wife and I lived in Hoboken, NJ until last year. We had our first baby and looked at life style and cost of living in NJ and said "no way!!" We make about $300k, so it was affordable, but to be in a decent school district in a house that was livable was (by our standards) $700k+ house + $100k renovation to get it out of the 80's + $15k+ per year taxes. All to live in a state full of grumpy/angry/mean people with bad traffic and worse weather.

Instead we moved to a suburb outside of Charleston, SC. Perfect 10 rating on greatschools.com and a high school rated in the top 10 in the country. We purchased a 4br 2bath 2300 sqft house on 0.25 acres for $350k cash. Our taxes are $1450 per year. People are MUCH nicer, and so is the weather. I simply do not understand why anyone would suffer through life living in NJ...
carolc
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Re: How much do you pay in Property Taxes?

Post by carolc »

I live in a state with no income or sales tax, however the state needs revenue from some source. I pay $12,800.

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stemikger
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Re: How much do you pay in Property Taxes?

Post by stemikger »

Ignatious P. Daily wrote:
Grt2bOutdoors wrote:
TomatoTomahto wrote:We have a nice home, but it's not a mansion. We pay $38k/year in northern NJ, on a private road so the neighbors have to chip in for paving, sewer is additional. I wish that i could "put" the house to the town at 90% of appraised value when we decide to leave; there oughta be a law.

Btw, livesoft mention state income taxes. Our NJ marginal rate is 8.97%. Easy come, even easier go.
Any wonder folks are leaving in droves?
My wife and I lived in Hoboken, NJ until last year. We had our first baby and looked at life style and cost of living in NJ and said "no way!!" We make about $300k, so it was affordable, but to be in a decent school district in a house that was livable was (by our standards) $700k+ house + $100k renovation to get it out of the 80's + $15k+ per year taxes. All to live in a state full of grumpy/angry/mean people with bad traffic and worse weather.

Instead we moved to a suburb outside of Charleston, SC. Perfect 10 rating on greatschools.com and a high school rated in the top 10 in the country. We purchased a 4br 2bath 2300 sqft house on 0.25 acres for $350k cash. Our taxes are $1450 per year. People are MUCH nicer, and so is the weather. I simply do not understand why anyone would suffer through life living in NJ...
Your a smart man. I don't get it either. Not that I'm in the same boat as you, but even if I could afford Jersey, there is no way I would pay those taxes. I guess that's why they are mean, grump and angry. Oh and you left out corrupt. lol.
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gd
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Re: How much do you pay in Property Taxes?

Post by gd »

dolphinsaremammals wrote:
Rainier wrote:they have socialized garbage collection
:D :D :D :D :D That's a new one on me. Trying to figure this out. Is my town water socialized? What about the fire department? :D :D :D :D :D
Don't know what R. means, but one of my favorite local tax stories. Water, no, you pay per use. Fire department? youbetcha, that's the real reason they have those red trucks! My distinctly-non-socialist town exploded when we went from unlimited curbside pickup to pay-per-throw trash, with special expensive bags required so you'd pay only for what you generated. Turns out lots of people very, very sensitive to tax hikes are even more sensitive to being told they can't put their business refuse in front of their residence, or invite their relatives from the neighboring pay-per-throw town to bring their trash over... In a similar vein, an old friend moved to neighboring New Hampshire and was delighted with no income taxes until she retired, and realized her property taxes didn't care that she had no income. Presented as ironical humor, not a political statement. The on-theme point is that this is a pointless thread, every state and local community has wildly different funding structures.
saladdin
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Re: How much do you pay in Property Taxes?

Post by saladdin »

Great State of Tennessee here.
Paid 68k for 1415 sq ft brick home sitting on 1 acre about 3 years ago.
Total Annual city and county property taxes are $407.

Every location is different.
Grt2bOutdoors
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Re: How much do you pay in Property Taxes?

Post by Grt2bOutdoors »

stemikger wrote:
Ignatious P. Daily wrote:
Grt2bOutdoors wrote:
TomatoTomahto wrote:We have a nice home, but it's not a mansion. We pay $38k/year in northern NJ, on a private road so the neighbors have to chip in for paving, sewer is additional. I wish that i could "put" the house to the town at 90% of appraised value when we decide to leave; there oughta be a law.

Btw, livesoft mention state income taxes. Our NJ marginal rate is 8.97%. Easy come, even easier go.
Any wonder folks are leaving in droves?
My wife and I lived in Hoboken, NJ until last year. We had our first baby and looked at life style and cost of living in NJ and said "no way!!" We make about $300k, so it was affordable, but to be in a decent school district in a house that was livable was (by our standards) $700k+ house + $100k renovation to get it out of the 80's + $15k+ per year taxes. All to live in a state full of grumpy/angry/mean people with bad traffic and worse weather.

Instead we moved to a suburb outside of Charleston, SC. Perfect 10 rating on greatschools.com and a high school rated in the top 10 in the country. We purchased a 4br 2bath 2300 sqft house on 0.25 acres for $350k cash. Our taxes are $1450 per year. People are MUCH nicer, and so is the weather. I simply do not understand why anyone would suffer through life living in NJ...
Your a smart man. I don't get it either. Not that I'm in the same boat as you, but even if I could afford Jersey, there is no way I would pay those taxes. I guess that's why they are mean, grump and angry. Oh and you left out corrupt. lol.
You can't say NY drivers are any more "nicer", especially on some of those local streets you live on - they are streets, not expressways but you couldn't tell the difference - try crossing one of them when cars are flying by at 60mph. :wink:
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alpenglow
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Re: How much do you pay in Property Taxes?

Post by alpenglow »

Long Island, NY - 2700sq ft house, 4br/2.5ba, no pool, 1 acre, good schools - Value of home $475k - $13500 in taxes (~2.8% of value)

If I didn't have a stable job with good pay and benefits I'd be long gone.
Ron
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Re: How much do you pay in Property Taxes?

Post by Ron »

gd wrote:The on-theme point is that this is a pointless thread, every state and local community has wildly different funding structures.
:thumbsup

- Ron
Grt2bOutdoors
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Re: How much do you pay in Property Taxes?

Post by Grt2bOutdoors »

alpenglow wrote:Long Island, NY - 2700sq ft house, 4br/2.5ba, no pool, 1 acre, good schools - Value of home $475k - $13500 in taxes (~2.8% of value)

If I didn't have a stable job with good pay and benefits I'd be long gone.
You and everyone else, brother. BTW, that is low property taxes for 1 acre.
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Grt2bOutdoors
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Re: How much do you pay in Property Taxes?

Post by Grt2bOutdoors »

gd wrote: In a similar vein, an old friend moved to neighboring New Hampshire and was delighted with no income taxes until she retired, and realized her property taxes didn't care that she had no income. Presented as ironical humor, not a political statement. The on-theme point is that this is a pointless thread, every state and local community has wildly different funding structures.
It's not pointless, when you are the one paying for questionable services. As with most things in life, the fountain eventually runs dry.
There are "needs" and "wants" - the funding structure should operate in a similar manner as most households - raise funds for basics, everything else is "extra", if you want it you pay for it.
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stemikger
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Re: How much do you pay in Property Taxes?

Post by stemikger »

Grt2bOutdoors wrote:
stemikger wrote:
Ignatious P. Daily wrote:
Grt2bOutdoors wrote:
TomatoTomahto wrote:We have a nice home, but it's not a mansion. We pay $38k/year in northern NJ, on a private road so the neighbors have to chip in for paving, sewer is additional. I wish that i could "put" the house to the town at 90% of appraised value when we decide to leave; there oughta be a law.

Btw, livesoft mention state income taxes. Our NJ marginal rate is 8.97%. Easy come, even easier go.
Any wonder folks are leaving in droves?
My wife and I lived in Hoboken, NJ until last year. We had our first baby and looked at life style and cost of living in NJ and said "no way!!" We make about $300k, so it was affordable, but to be in a decent school district in a house that was livable was (by our standards) $700k+ house + $100k renovation to get it out of the 80's + $15k+ per year taxes. All to live in a state full of grumpy/angry/mean people with bad traffic and worse weather.

Instead we moved to a suburb outside of Charleston, SC. Perfect 10 rating on greatschools.com and a high school rated in the top 10 in the country. We purchased a 4br 2bath 2300 sqft house on 0.25 acres for $350k cash. Our taxes are $1450 per year. People are MUCH nicer, and so is the weather. I simply do not understand why anyone would suffer through life living in NJ...
Your a smart man. I don't get it either. Not that I'm in the same boat as you, but even if I could afford Jersey, there is no way I would pay those taxes. I guess that's why they are mean, grump and angry. Oh and you left out corrupt. lol.
You can't say NY drivers are any more "nicer", especially on some of those local streets you live on - they are streets, not expressways but you couldn't tell the difference - try crossing one of them when cars are flying by at 60mph. :wink:
Oh trust me, there is nothing polite about living on Staten Island. But going to Jersey, is not much different. As soon as I retire, I am going to become a snow bird. I do love New York City though.
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chuck-b
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Re: How much do you pay in Property Taxes?

Post by chuck-b »

$5300 on a $350K house in Boston MetroWest area.
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ktd
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Re: How much do you pay in Property Taxes?

Post by ktd »

3500 sf. 10 acres and property taxes is $5,000 a year. This is in Dallas. Not sure about property value maybe 390k, bought almost 10 years ago.
Last edited by ktd on Wed Apr 22, 2015 8:19 am, edited 1 time in total.
LRDave
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Re: How much do you pay in Property Taxes?

Post by LRDave »

Grt2bOutdoors wrote:
gd wrote: In a similar vein, an old friend moved to neighboring New Hampshire and was delighted with no income taxes until she retired, and realized her property taxes didn't care that she had no income. Presented as ironical humor, not a political statement. The on-theme point is that this is a pointless thread, every state and local community has wildly different funding structures.
It's not pointless, when you are the one paying for questionable services. As with most things in life, the fountain eventually runs dry.
There are "needs" and "wants" - the funding structure should operate in a similar manner as most households - raise funds for basics, everything else is "extra", if you want it you pay for it.
For me personally, it has been educational. :shock:
texasdiver
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Re: How much do you pay in Property Taxes?

Post by texasdiver »

$8,500 tax on an appraised value of about $340,000 in a typical Central Texas suburb that is within the city limits. It is a 3300 sf 4br, 3.5ba home on a typical suburban lot.

With 3 kids in school I figure it is a whole lot cheaper than 3 private school tuitions as over half the tax goes to the local schools. Also we have no income tax in Texas.
radix07
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Re: How much do you pay in Property Taxes?

Post by radix07 »

In IL pay around $4000 after heavy protesting every year on a house I paid $110,000 and is valued at ~$95,000. It's an insane % of the property value... Supposedly one of the worst in the country for property taxes.
Last edited by radix07 on Thu Apr 23, 2015 8:07 am, edited 1 time in total.
dimideme
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Re: How much do you pay in Property Taxes?

Post by dimideme »

South NJ (Philadelphia suburb)
$250k house: 1700sqft with 1 acre wooded lot
Tax rate: 2.9%: I pay about $7000
Schools seem highly rated (8 or 9 out of 10)
Garbage and recycling are included
keystone
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Re: How much do you pay in Property Taxes?

Post by keystone »

I interpreted the "pointless" comment to mean it is pointless to just compare property tax from one jurisdiction to another because there are other factors, such as income and sales tax.

The one thing I learned from this thread - don't move to New Jersey.
SQRT
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Re: How much do you pay in Property Taxes?

Post by SQRT »

We pay about .55% of market value in Paradise Valley Arizona. 1 acre lot 5500 sq ft house. Compared to our places in Canada this is pretty comparable. Fo the places in Canada the average tax as a percentage of market value would be about .6%
Crow Hunter
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Re: How much do you pay in Property Taxes?

Post by Crow Hunter »

~$1,150 for primary residence if IIRC.

1,450 sq ft on 2.7 acres worth ~$155,000 or so in far western Tennessee.

I don't have kids so I am not really that up on the school systems but from seeing signs around the city schools seem to win quite a few awards but I don't see that much about the county schools. I do know they are better ranked than the neighboring counties from my research before buying our home 8 years ago.
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Go Blue 99
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Re: How much do you pay in Property Taxes?

Post by Go Blue 99 »

Roughly 1.2% of market value. This is in Atlanta.
dolphinsaremammals
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Re: How much do you pay in Property Taxes?

Post by dolphinsaremammals »

gd wrote: Don't know what R. means, but one of my favorite local tax stories. Water, no, you pay per use. Fire department? youbetcha, that's the real reason they have those red trucks! My distinctly-non-socialist town exploded when we went from unlimited curbside pickup to pay-per-throw trash, with special expensive bags required so you'd pay only for what you generated. Turns out lots of people very, very sensitive to tax hikes are even more sensitive to being told they can't put their business refuse in front of their residence, or invite their relatives from the neighboring pay-per-throw town to bring their trash over... In a similar vein, an old friend moved to neighboring New Hampshire and was delighted with no income taxes until she retired, and realized her property taxes didn't care that she had no income. Presented as ironical humor, not a political statement. The on-theme point is that this is a pointless thread, every state and local community has wildly different funding structures.
My state transfer facility/recycling facility gives per weight fee breaks to towns that recycle proportionally more than they throw out trash. Or something, I forget the details. The landfills are hovering around running out of room. Nothing like waving money in front of people to change behavior :D
tj
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Re: How much do you pay in Property Taxes?

Post by tj »

denovo wrote:
celia wrote:Prop 13 reset the property tax back to 1% of value back in 1978 with an annual tax increase of 2%. Since the increased value of the house has grown more than that most years, we are now paying 0.3% of its value now.

This. You have people paying anywhere from like 0.3 to 1.3 percent of the real value of their home in property taxes depending on when they bought. My parents in CA have a home that is worth around $900,000 , but pay only $3,000 or .33 percent in property taxes because of that law.
Yep. If you see yourself staying put for A VERY LONG time, then even with the high sales and incomes tax burden, California isn't a bad place to be. Electric is cheap in areas where you don't nede to run a/c. Also if you are "asset rich, income poor", the low brackets aren't any worse than anywhere else, plus the lack of social security taxation.
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TomatoTomahto
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Re: How much do you pay in Property Taxes?

Post by TomatoTomahto »

keystone wrote:The one thing I learned from this thread - don't move to New Jersey.
When I headed off to college, almost 50 years ago, I said that I'd never move back to NJ. I stayed away for quite a while, but around 30 years ago I moved back, and one thing or another has kept me here ever since. Now I say that once we're both retired, we're leaving.
I get the FI part but not the RE part of FIRE.
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Shackleton
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Re: How much do you pay in Property Taxes?

Post by Shackleton »

We recently sold an 18 year old, 3800sf house on 36 acres, 15 minutes from town and in a good school district (schools rated 8/10) where the taxes were $1450/year. House sold for $500k. That is in Colorado.
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DaveG
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Re: How much do you pay in Property Taxes?

Post by DaveG »

$12K in Plano, TX. 4600 sqft home. Good public school system.
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Watty
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Re: How much do you pay in Property Taxes?

Post by Watty »

About $645 a year in Suburban Atlanta for a pretty average house. About 0.3%

The property taxes vary greatly by county here and I am in one of the few counties in the state that exempts people over 62 from paying school property taxes. Before we qualified we were paying about $1,800 a year. The county has some of the top schools school in the state and is considered a desirable but not prime area.

There is another fixed amount homestead property tax exemption regardless of age so that lower priced houses in effect get a higher percentage exemption. A house that cost twice as much as ours would pay way more than twice the property taxes.
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Re: How much do you pay in Property Taxes?

Post by randomguy »

saladdin wrote:Great State of Tennessee here.
Paid 68k for 1415 sq ft brick home sitting on 1 acre about 3 years ago.
Total Annual city and county property taxes are $407.

Every location is different.
Property tax was low in TN. I did however have to write a 500 dollar check every year to the Fire service company or they would let my house burn down:)
randomguy
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Re: How much do you pay in Property Taxes?

Post by randomguy »

Professor Emeritus wrote:
dolphinsaremammals wrote:
jasc15 wrote:
gloomydog wrote:Wow I will try never to grumble about our almost 9K tax (1.86% in metrowest MA). I've never heard of >3% property tax before this - what are you getting for your money?
I ask myself the same question. Since I usually go by the adage "there is no free lunch", what are you getting for 3% property taxes that you don't get with 1%?
Government employee pensions at start after twenty years on the job at 80% of pay and free health care. Mods arrive in 1, 2, 3... :annoyed
How about a cite? The fire fighters I worked with in NJ had a multiplier of 2% at 20 years. teachers were 1.6%

I served on the State faculty pension committee. We could steal faculty from NJ because the pension was so poor.

NB I am not trying in any sense to be political. The question is what you get for the money. We always complained about how generous Pennsylvania was but no body wanted a NJ level of pension.
It is more than just pensions. It is a combo of higher salary (average NJ 68k, TN 52k), higher costs (they need to pay inflated rents,...) and services that all adds up. It is also misleading to only look at one tax. You need to look at all of them and figure out what your total tax liability is for your situation.
PittPharmboy
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Re: How much do you pay in Property Taxes?

Post by PittPharmboy »

Living in northern West Virginia, homes are assessed at 60% of market value and property tax rate is slightly <1%. Paid roughly $1600 last year for 2755 Sq. ft. home with 0.4 acres. Greatschools ratings for the school systems are 10 (elementary), 10 (middle), and 9 (high school).

For all the verbal garbage we catch for living in WV, we feel there aren't many places better to raise our 3 small children due to the numbers above.......and after seeing what some of ya'll pay in property taxes I feel even luckier.
john94549
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Re: How much do you pay in Property Taxes?

Post by john94549 »

Of course, by dint of Prop 13, our property taxes are much lower than folks who purchased later with homes of similar value. This obviously impacts the survey.
Grogs
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Re: How much do you pay in Property Taxes?

Post by Grogs »

In TN. The actual formula is a bit complicated, but in the end it amounts to about 0.67% of the value. In my case, that's about $1340 on a $200K condo. I pay county taxes only. A few miles down the road, I would have (Knoxville) city taxes, which would bring the total rate to about 1.7%. The increased benefits would be free trash/recycling, free fire service, and free pickup of leaves/limbs/etc. It's something at least, but it wouldn't come close to making up for the extra $2000/year it would add.
tj
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Re: How much do you pay in Property Taxes?

Post by tj »

Grogs wrote:In TN. The actual formula is a bit complicated, but in the end it amounts to about 0.67% of the value. In my case, that's about $1340 on a $200K condo. I pay county taxes only. A few miles down the road, I would have (Knoxville) city taxes, which would bring the total rate to about 1.7%. The increased benefits would be free trash/recycling, free fire service, and free pickup of leaves/limbs/etc. It's something at least, but it wouldn't come close to making up for the extra $2000/year it would add.
How do you currently pay for fire service?
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Re: How much do you pay in Property Taxes?

Post by TradingPlaces »

TomatoTomahto wrote:We have a nice home, but it's not a mansion. We pay $38k/year in northern NJ, on a private road so the neighbors have to chip in for paving, sewer is additional. I wish that i could "put" the house to the town at 90% of appraised value when we decide to leave; there oughta be a law.

Btw, livesoft mention state income taxes. Our NJ marginal rate is 8.97%. Easy come, even easier go.
That translates to over $500K of taxable income (NJ), and over $1.5M of property appraised value.

Which town is this? Short Hills?
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22twain
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Re: How much do you pay in Property Taxes?

Post by 22twain »

We paid about $925 in property tax last year, on a house that would probably sell for about $160K. 3br, 2ba, about 2000 sq. ft. Small rural town in the Southeast.
Last edited by 22twain on Thu Apr 23, 2015 6:12 am, edited 1 time in total.
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schmitz
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Re: How much do you pay in Property Taxes?

Post by schmitz »

Ignatious P. Daily wrote:
Grt2bOutdoors wrote:
TomatoTomahto wrote:We have a nice home, but it's not a mansion. We pay $38k/year in northern NJ, on a private road so the neighbors have to chip in for paving, sewer is additional. I wish that i could "put" the house to the town at 90% of appraised value when we decide to leave; there oughta be a law.

Btw, livesoft mention state income taxes. Our NJ marginal rate is 8.97%. Easy come, even easier go.
Any wonder folks are leaving in droves?
My wife and I lived in Hoboken, NJ until last year. We had our first baby and looked at life style and cost of living in NJ and said "no way!!" We make about $300k, so it was affordable, but to be in a decent school district in a house that was livable was (by our standards) $700k+ house + $100k renovation to get it out of the 80's + $15k+ per year taxes. All to live in a state full of grumpy/angry/mean people with bad traffic and worse weather.

Instead we moved to a suburb outside of Charleston, SC. Perfect 10 rating on greatschools.com and a high school rated in the top 10 in the country. We purchased a 4br 2bath 2300 sqft house on 0.25 acres for $350k cash. Our taxes are $1450 per year. People are MUCH nicer, and so is the weather. I simply do not understand why anyone would suffer through life living in NJ...
Sorry this is off topic but where is the top high school rankings list? I've been trying to find it with no luck.
LK2012
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Re: How much do you pay in Property Taxes?

Post by LK2012 »

General Tax Rate = 4.528

Appraised Value = $135,000 (Land Value $45,000; Improvement Value $90,100) - 3 bedrooms, 2 1/2 bath, 1725 Square Feet, 0.071 acres

2014 Property Taxes = $6200

Dreading when properties here are re-assessed because our place is easily worth twice as much as the "Appraised Value." Recently, identical homes within a few doors have sold for $270,000 - $280,000, and in 2009-2010, three houses on our circle sold around $310,000. We probably would end up paying $12,000/year after an appraisal. Which means we would be moving in a hurry.

Can you guess where we are? Central New Jersey
LK2012
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Re: How much do you pay in Property Taxes?

Post by LK2012 »

With excellent schools.
crg11
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Re: How much do you pay in Property Taxes?

Post by crg11 »

~$3,800/year for a tiny city lot in New Hampshire, house worth about $165k. Since NH has no income or sales tax, almost all state, county, and city/town funds come from property taxes.
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midareff
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Re: How much do you pay in Property Taxes?

Post by midareff »

First year here (11 years ago) it was about $6K, then came the condo implosion in Miami. Tax was cut to about $3300. Property tax programs here have a maximum 3% annual raise so it's up to about $3600 a year now taking advantage of the 4% November discount.
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HardKnocker
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Re: How much do you pay in Property Taxes?

Post by HardKnocker »

Real estate taxes in NJ are high but there are lots of potholes to fill. Fixing all those potholes is expensive!

And paying all the bribes and payola. That's not cheap.
“Gold gets dug out of the ground, then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility.”--Warren Buffett
Johno
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Re: How much do you pay in Property Taxes?

Post by Johno »

TradingPlaces wrote:
TomatoTomahto wrote:We have a nice home, but it's not a mansion. We pay $38k/year in northern NJ, on a private road so the neighbors have to chip in for paving, sewer is additional. I wish that i could "put" the house to the town at 90% of appraised value when we decide to leave; there oughta be a law.

Btw, livesoft mention state income taxes. Our NJ marginal rate is 8.97%. Easy come, even easier go.
That translates to over $500K of taxable income (NJ), and over $1.5M of property appraised value.

Which town is this? Short Hills?
My parents lived for many years in Millburn (Short Hills is just a section of Millburn w/ own post office) and the taxes were quite low by NJ standards (they *bought* their house for ~$38k!, in the 1960's), don't know if that's still as true. Our taxes are just under $20k in Hudson County, that's around 1.3% of market (appraised recently increased by a factor of ~5 but taxes didn't move that much: % of appraised isn't really relevant). I was thinking the taxes of the new house on our street (5000 sqft at least, most houses in the neighborhood are mid 2000's sqft built 1880's-1900's), $60+k, would shock everyone but I see some other posts of NJ property taxes have already at least rivaled that. :D

Of course it doesn't make sense to live in the (especially inner) NY area from a strictly financial POV if you separate it from employment opportunities. But there are more very high paying jobs in this area than almost anywhere else in the world. Then once you've settled in a place, there is inertia, even after you don't work at or need the job. Plus in my case the City has been the ancestral homeland for generations. The City itself has much lower property tax than NJ but higher property cost and a 4.5% income tax on top of the NYS income tax (which is now similar to NJ's, NJ's used to be lower). CT and Westchester are much further from Manhattan than we are and so is Long Island actually. Comparison to eg. Texas is meaningless. It's a totally different situation in terms of income potential in certain professions, nor a place I'd have any desire to live as a matter of taste, which is a big factor in the whole equation also.
ARB57
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Re: How much do you pay in Property Taxes?

Post by ARB57 »

My waterfront, studio condo in Florida (with homestead exemption) runs about $300 a year.
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N1CKV
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Re: How much do you pay in Property Taxes?

Post by N1CKV »

$361.00
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pennstater2005
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Re: How much do you pay in Property Taxes?

Post by pennstater2005 »

1/2 acre in western PA with small cape cod home = $1750.
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