What are your property taxes?

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Blueraidermike
Posts: 21
Joined: Fri Jun 08, 2018 11:31 am

Re: What are your property taxes?

Post by Blueraidermike » Tue Jul 10, 2018 5:52 pm

Murfreesboro, TN (Nashville)
Assessed Value of home $425K ($520K real value)
Annual prop Tax bill - $3980

Just got a notice its going up...homes have increase about 10% a year the last few years.

michaeljc70
Posts: 3914
Joined: Thu Oct 15, 2015 3:53 pm

Re: What are your property taxes?

Post by michaeljc70 » Tue Jul 10, 2018 6:27 pm

Blueraidermike wrote:
Tue Jul 10, 2018 5:52 pm
Murfreesboro, TN (Nashville)
Assessed Value of home $425K ($520K real value)
Annual prop Tax bill - $3980

Just got a notice its going up...homes have increase about 10% a year the last few years.
But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same amount? I often hear that here (IL) as an excuse, but when home prices crashed, the taxes still went up!

Charon
Posts: 75
Joined: Thu May 03, 2018 12:08 pm

Re: What are your property taxes?

Post by Charon » Wed Jul 11, 2018 2:14 pm

michaeljc70 wrote:
Tue Jul 10, 2018 6:27 pm
But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same amount?
This is a criticism of all taxes I can think of (income, capital gains, sales, property). Do you have a better system? I suspect the basic justification is that the more money you make (income, capital gains), spend (sales), or have (property), the more you can afford to contribute to the public good. Property taxes are perhaps the only wealth tax we have in the US, and there's a lot of justification for wealth taxes.

Also, I've never seen a jurisdiction that has too much money. Fixed every road, has a complete network of bike paths, fully funded every classroom, fully staffed every shift of police and fire, has snow removal times that people say are too fast (and plows every road), has perfectly maintained parks, has a transit system that goes everywhere on time, has every item library patrons want, and has a bed for every homeless person? Maybe some cities in the Bay Area could do this if they could actually collect property taxes on current home values, but they can't. And that's just the local stuff. The state-level list could go on forever.

If people think the services are good enough and taxes are too high, well, in my jurisdiction at least we vote on many of things we're taxed on, and we elect the people who decide the rest. So...

delamer
Posts: 6439
Joined: Tue Feb 08, 2011 6:13 pm

Re: What are your property taxes?

Post by delamer » Wed Jul 11, 2018 2:47 pm

michaeljc70 wrote:
Tue Jul 10, 2018 6:27 pm
Blueraidermike wrote:
Tue Jul 10, 2018 5:52 pm
Murfreesboro, TN (Nashville)
Assessed Value of home $425K ($520K real value)
Annual prop Tax bill - $3980

Just got a notice its going up...homes have increase about 10% a year the last few years.
But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same amount? I often hear that here (IL) as an excuse, but when home prices crashed, the taxes still went up!
When our property values crashed during the Grear Recession, our property values were adjusted accordingly and our taxes fell.

So like a lot of things with real estate, this is a local issue.

goodlifer
Posts: 454
Joined: Sun Aug 16, 2015 9:50 pm

Re: What are your property taxes?

Post by goodlifer » Wed Jul 11, 2018 3:06 pm

Cruise wrote:
Mon Jul 09, 2018 12:35 pm
goodlifer wrote:
Mon Jul 09, 2018 10:31 am
Our home in IL is valued at $470,000 (which is $50,000 more than the realtor valued it) and we pay $12,000 including a $6,000 exemption. We have been here a little less than 10 years and the taxes have increased over $4,0000 and the value dropped by $50,000. Our IN house is about $2,300 for a $250,000 home with no exemptions.
Any big differences in govermental services between IL and IN that could account for the discrepancy of taxes?
Yes. The schools assigned to our IN house are garbage and none of the streets are plowed or paved because we are in the sticks. We don't have garbage pick up and have our own well. There is no public transportation at all, even in town. Not that I'm complaining. It is just a vacation home on a lake and we have a good neighbor. It is also just an overbuilt cottage and the IL house is in a fancy smancy subdivision.

pshonore
Posts: 6429
Joined: Sun Jun 28, 2009 2:21 pm

Re: What are your property taxes?

Post by pshonore » Wed Jul 11, 2018 3:31 pm

delamer wrote:
Wed Jul 11, 2018 2:47 pm
michaeljc70 wrote:
Tue Jul 10, 2018 6:27 pm
Blueraidermike wrote:
Tue Jul 10, 2018 5:52 pm
Murfreesboro, TN (Nashville)
Assessed Value of home $425K ($520K real value)
Annual prop Tax bill - $3980

Just got a notice its going up...homes have increase about 10% a year the last few years.
But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same amount? I often hear that here (IL) as an excuse, but when home prices crashed, the taxes still went up!
When our property values crashed during the Grear Recession, our property values were adjusted accordingly and our taxes fell.

So like a lot of things with real estate, this is a local issue.
That can only happen when your local govt spends less money which is quite unusual. Did they layoff teachers, police, fire, etc?

michaeljc70
Posts: 3914
Joined: Thu Oct 15, 2015 3:53 pm

Re: What are your property taxes?

Post by michaeljc70 » Wed Jul 11, 2018 3:33 pm

delamer wrote:
Wed Jul 11, 2018 2:47 pm
michaeljc70 wrote:
Tue Jul 10, 2018 6:27 pm
Blueraidermike wrote:
Tue Jul 10, 2018 5:52 pm
Murfreesboro, TN (Nashville)
Assessed Value of home $425K ($520K real value)
Annual prop Tax bill - $3980

Just got a notice its going up...homes have increase about 10% a year the last few years.
But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same amount? I often hear that here (IL) as an excuse, but when home prices crashed, the taxes still went up!
When our property values crashed during the Grear Recession, our property values were adjusted accordingly and our taxes fell.

So like a lot of things with real estate, this is a local issue.
They cut our assessed and market values too. And then raised the rate applied to them.

How did they get buy with x% less revenue? Borrow? Cut spending?

delamer
Posts: 6439
Joined: Tue Feb 08, 2011 6:13 pm

Re: What are your property taxes?

Post by delamer » Wed Jul 11, 2018 3:37 pm

michaeljc70 wrote:
Wed Jul 11, 2018 3:33 pm
delamer wrote:
Wed Jul 11, 2018 2:47 pm
michaeljc70 wrote:
Tue Jul 10, 2018 6:27 pm
Blueraidermike wrote:
Tue Jul 10, 2018 5:52 pm
Murfreesboro, TN (Nashville)
Assessed Value of home $425K ($520K real value)
Annual prop Tax bill - $3980

Just got a notice its going up...homes have increase about 10% a year the last few years.
But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same amount? I often hear that here (IL) as an excuse, but when home prices crashed, the taxes still went up!
When our property values crashed during the Grear Recession, our property values were adjusted accordingly and our taxes fell.

So like a lot of things with real estate, this is a local issue.
They cut our assessed and market values too. And then raised the rate applied to them.

How did they get buy with x% less revenue? Borrow? Cut spending?
I believe cuts in spending and deferring capital improvements. There was a moratorium on new school building, for example.

SchruteB&B
Posts: 48
Joined: Mon Jul 02, 2018 7:48 am

Re: What are your property taxes?

Post by SchruteB&B » Wed Jul 11, 2018 4:01 pm

delamer wrote:
Wed Jul 11, 2018 2:47 pm
michaeljc70 wrote:
Tue Jul 10, 2018 6:27 pm
Blueraidermike wrote:
Tue Jul 10, 2018 5:52 pm
Murfreesboro, TN (Nashville)
Assessed Value of home $425K ($520K real value)
Annual prop Tax bill - $3980

Just got a notice its going up...homes have increase about 10% a year the last few years.
But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same amount? I often hear that here (IL) as an excuse, but when home prices crashed, the taxes still went up!
When our property values crashed during the Grear Recession, our property values were adjusted accordingly and our taxes fell.

So like a lot of things with real estate, this is a local issue.
Our property values were adjusted too, but since everybody’s house was worth less, that did not affect our actual taxes. The schools, police, roads would have had to cut their budgets in order for the taxes to decline.

westie
Posts: 453
Joined: Thu Jan 19, 2012 8:00 am

Re: What are your property taxes?

Post by westie » Wed Jul 11, 2018 8:52 pm

Delaware beach town

Property taxes on 600K home - $1800

No sales tax.

EddyB
Posts: 565
Joined: Fri May 24, 2013 3:43 pm

Re: What are your property taxes?

Post by EddyB » Wed Jul 11, 2018 9:50 pm

Charon wrote:
Wed Jul 11, 2018 2:14 pm
michaeljc70 wrote:
Tue Jul 10, 2018 6:27 pm
But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same amount?
This is a criticism of all taxes I can think of (income, capital gains, sales, property). Do you have a better system? I suspect the basic justification is that the more money you make (income, capital gains), spend (sales), or have (property), the more you can afford to contribute to the public good. Property taxes are perhaps the only wealth tax we have in the US, and there's a lot of justification for wealth taxes.

Also, I've never seen a jurisdiction that has too much money. Fixed every road, has a complete network of bike paths, fully funded every classroom, fully staffed every shift of police and fire, has snow removal times that people say are too fast (and plows every road), has perfectly maintained parks, has a transit system that goes everywhere on time, has every item library patrons want, and has a bed for every homeless person? Maybe some cities in the Bay Area could do this if they could actually collect property taxes on current home values, but they can't. And that's just the local stuff. The state-level list could go on forever.

If people think the services are good enough and taxes are too high, well, in my jurisdiction at least we vote on many of things we're taxed on, and we elect the people who decide the rest. So...
Better system? Step 1, set the budget. Step 2, allocate the budget by dividing it across total property value. No real reason general increases or decreases in property value have to have anything to do with the budget.

michaeljc70
Posts: 3914
Joined: Thu Oct 15, 2015 3:53 pm

Re: What are your property taxes?

Post by michaeljc70 » Thu Jul 12, 2018 10:30 am

Charon wrote:
Wed Jul 11, 2018 2:14 pm
michaeljc70 wrote:
Tue Jul 10, 2018 6:27 pm
But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same amount?
This is a criticism of all taxes I can think of (income, capital gains, sales, property). Do you have a better system? I suspect the basic justification is that the more money you make (income, capital gains), spend (sales), or have (property), the more you can afford to contribute to the public good. Property taxes are perhaps the only wealth tax we have in the US, and there's a lot of justification for wealth taxes.

Also, I've never seen a jurisdiction that has too much money. Fixed every road, has a complete network of bike paths, fully funded every classroom, fully staffed every shift of police and fire, has snow removal times that people say are too fast (and plows every road), has perfectly maintained parks, has a transit system that goes everywhere on time, has every item library patrons want, and has a bed for every homeless person? Maybe some cities in the Bay Area could do this if they could actually collect property taxes on current home values, but they can't. And that's just the local stuff. The state-level list could go on forever.

If people think the services are good enough and taxes are too high, well, in my jurisdiction at least we vote on many of things we're taxed on, and we elect the people who decide the rest. So...
I live in Chicago. It is a one party city. Of course, you can move if your job, friends or family aren't a factor.

carolc
Posts: 215
Joined: Thu Mar 22, 2007 11:45 am
Location: New Hampshire seacoast

Re: What are your property taxes?

Post by carolc » Thu Jul 12, 2018 12:33 pm

NH

$12,400

(NH doesn’t have a sales or income tax but they have to get the money somewhere. House is valued at $533,000 according to the town.)

carolc

harrington
Posts: 143
Joined: Tue Jun 21, 2011 9:09 am

What are others paying for property taxes around the US?

Post by harrington » Thu Dec 06, 2018 3:47 pm

[Thread merged into here, see below (next page). --admin LadyGeek]

I live in WNY and my taxes run about 7K per year on a 2000 sq. ft. home built in 2001.

Thegame14
Posts: 457
Joined: Mon May 07, 2018 11:53 am

Re: What are others paying for property taxes around the US?

Post by Thegame14 » Thu Dec 06, 2018 3:49 pm

NJ taxes are around $11,500 for 1,900 sq ft house built 1969, house value is around $475K
Last edited by Thegame14 on Thu Dec 06, 2018 4:35 pm, edited 1 time in total.

corysold
Posts: 684
Joined: Mon Mar 24, 2014 12:58 pm

Re: What are others paying for property taxes around the US?

Post by corysold » Thu Dec 06, 2018 3:50 pm

IL $16,800 on 4300 sq ft assessed at $580,000

harrington
Posts: 143
Joined: Tue Jun 21, 2011 9:09 am

Re: What are others paying for property taxes around the US?

Post by harrington » Thu Dec 06, 2018 3:51 pm

Thegame14 wrote:
Thu Dec 06, 2018 3:49 pm
NJ taxes are around $11,500 for 1,900 sq ft house built 1969
Wow.....

Shallowpockets
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Re: What are others paying for property taxes around the US?

Post by Shallowpockets » Thu Dec 06, 2018 3:54 pm

Colorado. $1244 for 1760 sq feet.

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pfrank
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Re: What are others paying for property taxes around the US?

Post by pfrank » Thu Dec 06, 2018 3:59 pm

Cape Cod: $4,100 on a 3,900 square ft home.

Liam Friend
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Re: What are others paying for property taxes around the US?

Post by Liam Friend » Thu Dec 06, 2018 4:02 pm

$9,500 for 1850 square feet built in 1940s.

Liam Friend
Posts: 8
Joined: Tue Aug 07, 2018 6:58 pm

Re: What are others paying for property taxes around the US?

Post by Liam Friend » Thu Dec 06, 2018 4:03 pm

Sorry, that’s in Worthington (Columbus area), Ohio.

adamthesmythe
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Re: What are others paying for property taxes around the US?

Post by adamthesmythe » Thu Dec 06, 2018 4:06 pm

In places I am aware of, square feet and age are essentially irrelevant. Sale price or current value is what matters.

In AZ about $2000/$360000 is about right.

renue74
Posts: 1202
Joined: Tue Apr 07, 2015 7:24 pm

Re: What are others paying for property taxes around the US?

Post by renue74 » Thu Dec 06, 2018 4:07 pm

This question was asked before and there's a rather extensive chain of responses. You may want to search the forum.

BTW... we pay $1800/year for a $300K house in SC. Of course, we have the worst roads in the USA.

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mhc
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Location: NoCo

Re: What are others paying for property taxes around the US?

Post by mhc » Thu Dec 06, 2018 4:11 pm

about 0.5% of the value (Colorado)

Delawarean
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Re: What are others paying for property taxes around the US?

Post by Delawarean » Thu Dec 06, 2018 4:11 pm

Northern Delaware paying $1450 on 1400 sqft valued around $170k. Built in 1950.

sciliz
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Re: What are others paying for property taxes around the US?

Post by sciliz » Thu Dec 06, 2018 4:18 pm

$2200 for ~1200 sq ft house built in 1949, in Indiana.

Snowjob
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Re: What are others paying for property taxes around the US?

Post by Snowjob » Thu Dec 06, 2018 4:21 pm

Central Connecticut -- 7,000 on a 1600 sqft

lakpr
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Re: What are others paying for property taxes around the US?

Post by lakpr » Thu Dec 06, 2018 4:21 pm

NJ. 4 bedroom colonial, 2300 sq ft. $16,600 in property taxes last year (2017)

Texanbybirth
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Re: What are others paying for property taxes around the US?

Post by Texanbybirth » Thu Dec 06, 2018 4:23 pm

$7,414 (2018, just paid two weeks ago) in north Dallas suburb, 2,500 sq ft SFH

Thesaints
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Re: What are others paying for property taxes around the US?

Post by Thesaints » Thu Dec 06, 2018 4:25 pm

Cali does not tax based on square footage, but on assessed value. Essentially last sale plus ~2%/yr since.
This year we went over 15k for the first time.

vshun
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Re: What are others paying for property taxes around the US?

Post by vshun » Thu Dec 06, 2018 4:29 pm

Northern VA, about 9K on a house assessed at 800K, which is about what it would be worth for real (build in 2000, 4,700 square feet). Think our rate is about 1.1% and assessed values are not lowered (i.e. county makes real assessments, 3 sales of similar houses in the neighborhood last 6 months and averages them to come up with assessed value).

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GoldStar
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Re: What are others paying for property taxes around the US?

Post by GoldStar » Thu Dec 06, 2018 4:29 pm

Very State AND Town dependent. Someone above is paying only $4,100 on a 3900 sq-foot-property in Massachusetts while I am paying $12,000 on a 2,000 sq-foot property. Now that my kids are out of public schools I could buy the same size house in a another town 5 - 10 miles away and save several thousand a year (a real consideration - although transaction costs takes the savings away for a period of years).

Typ997S
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Joined: Fri Apr 06, 2012 12:36 pm

Re: What are others paying for property taxes around the US?

Post by Typ997S » Thu Dec 06, 2018 4:34 pm

$24K on 4100 ft2 in Northern California. Do I get a prize for being highest so far? I just paid my first installment of property tax, so I could use some cash...

Gnirk
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Location: Western Washington

Re: What are others paying for property taxes around the US?

Post by Gnirk » Thu Dec 06, 2018 4:48 pm

I guess I should stop complaining about our regressive property tax system.
Western Washington (the state) about 60 miles south of Seattle; we pay a little over $7,000 per year on a 1994 built 2800 SF house with 1200 Ft attached garage, on a good golf course, gated neighborhood. House market value around $600K.
Last edited by Gnirk on Thu Dec 06, 2018 5:22 pm, edited 2 times in total.

jebmke
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Re: What are others paying for property taxes around the US?

Post by jebmke » Thu Dec 06, 2018 4:53 pm

.69% of current assessed value. But our property taxes generally don't move even if assessments change. The county has a revenue cap - they are not allowed to generate total revenue above the cap so if the assessments go up or the base expands, the rate drops.
When you discover that you are riding a dead horse, the best strategy is to dismount.

adamthesmythe
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Re: What are others paying for property taxes around the US?

Post by adamthesmythe » Thu Dec 06, 2018 5:00 pm

Conclusions

1. There's a big range in taxes, whether calculated based on value, size, or whatever.

2. You have to pay to play. Do you want good schools, good roads, short commute, nice environment? It's gonna cost you in house price and in taxes.

3. The options become much broader if you are not worried about schools or jobs.

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midareff
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Location: Biscayne Bay, South Florida

Re: What are others paying for property taxes around the US?

Post by midareff » Thu Dec 06, 2018 5:01 pm

After purchase and with Florida Homestead Exemption it was about $5800 for a 1400 sq. ft. 2/2 waterfront condo. When the 2007/2008 crash occurred property values were revised to lower taxes. It dropped to pennies under $3600 annually less 4% for November payment, 3% December, etc..

HEDGEFUNDIE
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Re: What are others paying for property taxes around the US?

Post by HEDGEFUNDIE » Thu Dec 06, 2018 5:03 pm

Typ997S wrote:
Thu Dec 06, 2018 4:34 pm
$24K on 4100 ft2 in Northern California. Do I get a prize for being highest so far? I just paid my first installment of property tax, so I could use some cash...
Nope I win:

$22k for 1650 sqft house on 5600 sqft lot in Bay Area
Last edited by HEDGEFUNDIE on Thu Dec 06, 2018 5:06 pm, edited 3 times in total.

theplayer11
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Re: What are others paying for property taxes around the US?

Post by theplayer11 » Thu Dec 06, 2018 5:04 pm

corysold wrote:
Thu Dec 06, 2018 3:50 pm
IL $16,800 on 4300 sq ft assessed at $580,000
crazy high.....paying $4k on$600k home in coastal RI town.

bob60014
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Re: What are others paying for property taxes around the US?

Post by bob60014 » Thu Dec 06, 2018 5:06 pm

In IL., Current market price of $280k., $9000 on assessed value of $93.5k, 2200 sq ft, 4br, 2.5 bath, office, w/basement, 1/3 acre built in 1993.

Typ997S
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Re: What are others paying for property taxes around the US?

Post by Typ997S » Thu Dec 06, 2018 5:07 pm

HEDGEFUNDIE wrote:
Thu Dec 06, 2018 5:03 pm
Typ997S wrote:
Thu Dec 06, 2018 4:34 pm
$24K on 4100 ft2 in Northern California. Do I get a prize for being highest so far? I just paid my first installment of property tax, so I could use some cash...
Nope I win:

$22k for 1650 sqft house on 5600 sqft lot in Bay Area
Lemme guess...Palo Alto or Northward on the Peninsula?

HEDGEFUNDIE
Posts: 1249
Joined: Sun Oct 22, 2017 2:06 pm

Re: What are others paying for property taxes around the US?

Post by HEDGEFUNDIE » Thu Dec 06, 2018 5:09 pm

Typ997S wrote:
Thu Dec 06, 2018 5:07 pm
HEDGEFUNDIE wrote:
Thu Dec 06, 2018 5:03 pm
Typ997S wrote:
Thu Dec 06, 2018 4:34 pm
$24K on 4100 ft2 in Northern California. Do I get a prize for being highest so far? I just paid my first installment of property tax, so I could use some cash...
Nope I win:

$22k for 1650 sqft house on 5600 sqft lot in Bay Area
Lemme guess...Palo Alto or Northward on the Peninsula?
You got it.

Thegame14
Posts: 457
Joined: Mon May 07, 2018 11:53 am

Re: What are others paying for property taxes around the US?

Post by Thegame14 » Thu Dec 06, 2018 5:09 pm

HEDGEFUNDIE wrote:
Thu Dec 06, 2018 5:03 pm
Typ997S wrote:
Thu Dec 06, 2018 4:34 pm
$24K on 4100 ft2 in Northern California. Do I get a prize for being highest so far? I just paid my first installment of property tax, so I could use some cash...
Nope I win:

$22k for 1650 sqft house on 5600 sqft lot in Bay Area
yeah but what is the value of the house, if the house is 1.5M then it isn't that high, especially in states where taxes are capped at like 2% of price. in NJ my parents pay $16K on a $550K house on 1/3 acre land......It doesn't matter how much you pay, it is how much you pay VS value of the house. a 1.5M house in NJ would be like 40-50K in property taxes

HEDGEFUNDIE
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Re: What are others paying for property taxes around the US?

Post by HEDGEFUNDIE » Thu Dec 06, 2018 5:11 pm

Thegame14 wrote:
Thu Dec 06, 2018 5:09 pm
HEDGEFUNDIE wrote:
Thu Dec 06, 2018 5:03 pm
Typ997S wrote:
Thu Dec 06, 2018 4:34 pm
$24K on 4100 ft2 in Northern California. Do I get a prize for being highest so far? I just paid my first installment of property tax, so I could use some cash...
Nope I win:

$22k for 1650 sqft house on 5600 sqft lot in Bay Area
yeah but what is the value of the house, if the house is 1.5M then it isn't that high, especially in states where taxes are capped at like 2% of price. in NJ my parents pay $16K on a $550K house on 1/3 acre land......It doesn't matter how much you pay, it is how much you pay VS value of the house. a 1.5M house in NJ would be like 40-50K in property taxes
I agree, NJ and IL are the worst offenders here...

CA is not so bad with the 2% annual increase cap and the transparency of the assessment methodology.

Thegame14
Posts: 457
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Re: What are others paying for property taxes around the US?

Post by Thegame14 » Thu Dec 06, 2018 5:25 pm

HEDGEFUNDIE wrote:
Thu Dec 06, 2018 5:11 pm
Thegame14 wrote:
Thu Dec 06, 2018 5:09 pm
HEDGEFUNDIE wrote:
Thu Dec 06, 2018 5:03 pm
Typ997S wrote:
Thu Dec 06, 2018 4:34 pm
$24K on 4100 ft2 in Northern California. Do I get a prize for being highest so far? I just paid my first installment of property tax, so I could use some cash...
Nope I win:

$22k for 1650 sqft house on 5600 sqft lot in Bay Area
yeah but what is the value of the house, if the house is 1.5M then it isn't that high, especially in states where taxes are capped at like 2% of price. in NJ my parents pay $16K on a $550K house on 1/3 acre land......It doesn't matter how much you pay, it is how much you pay VS value of the house. a 1.5M house in NJ would be like 40-50K in property taxes
I agree, NJ and IL are the worst offenders here...

CA is not so bad with the 2% annual increase cap and the transparency of the assessment methodology.
Correct, Id much rather pay using their system of 2% of actual purchase price and a cap on increase, vs our method of just random assessment and then taxed at whatever rate they need to pay for our taxes in the most corrupt state in the union. ID be paying like $9K if we had their system.

J G Bankerton
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Re: What are others paying for property taxes around the US?

Post by J G Bankerton » Thu Dec 06, 2018 5:26 pm

This is all SALT taxes for the hardest hit. My county is on the list but I don't itemize, most tax payers don't so double the numbers for those who lose out. This tax didn't hurt me but my brother got hit big time.

Source: Internal Revenue Service,
New York County, NY $ 25,627
Marin County, CA $ 19,334
San Mateo County, CA $ 16,779
Westchester County, NY $ 15,678
Santa Clara County, CA $ 14,969
Fairfield County, CT $ 14,575
San Francisco County, CA $ 13,925
Nassau County, NY $ 12,414
Morris County, NJ $ 12,286
Somerset County, NJ $ 11,773

JackoC
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Re: What are others paying for property taxes around the US?

Post by JackoC » Thu Dec 06, 2018 5:33 pm

Thegame14 wrote:
Thu Dec 06, 2018 5:09 pm
HEDGEFUNDIE wrote:
Thu Dec 06, 2018 5:03 pm
Typ997S wrote:
Thu Dec 06, 2018 4:34 pm
$24K on 4100 ft2 in Northern California. Do I get a prize for being highest so far? I just paid my first installment of property tax, so I could use some cash...
Nope I win:

$22k for 1650 sqft house on 5600 sqft lot in Bay Area
yeah but what is the value of the house, if the house is 1.5M then it isn't that high, especially in states where taxes are capped at like 2% of price. in NJ my parents pay $16K on a $550K house on 1/3 acre land......It doesn't matter how much you pay, it is how much you pay VS value of the house. a 1.5M house in NJ would be like 40-50K in property taxes
Percent of value is one measure, but less directly relevant if you've lived someplace for a long time and don't want to move. We pay $21k on a house Zillow says is worth $2.1mil, ~2200 sqft, in NJ one mile as the crow flies from the Empire State Building. The market has decided that's a much more valuable location than it thought in 1993 ($355k purchase). But in year to year budgeting it's just $21k when it was $10k in 1996, 3.4% pa growth (CPI 2.1% in that period). OK price appreciation has been much more than that but still, steep. Nor would it go down if the property value did, the city spends what it spends basically, though would feel more constraint at the margin if the property value party around here permanently ended. In the next town over prop values are much lower, but absolute prop taxes aren't *that* much lower. Across the street down the block from us a guy built a new actually big house on an old partially finished (for like 100 yrs) church building, prop tax=$64k. :shock:

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White Coat Investor
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Re: What are others paying for property taxes around the US?

Post by White Coat Investor » Thu Dec 06, 2018 5:39 pm

I think Utah is pretty good. The percentage is pretty variable due to a big exemption, but I'm at about $3600 for 4400 sq ft. Utah bases it on value though and I can't recall what they think it's worth. Certainly less than it is.
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Canoesmith
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Re: What are others paying for property taxes around the US?

Post by Canoesmith » Thu Dec 06, 2018 5:41 pm

In Scottsdale AZ, $4,200 on a 2900 SF home built in 1994 valued at ~$550k

Big Dog
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Re: What are others paying for property taxes around the US?

Post by Big Dog » Thu Dec 06, 2018 5:46 pm

California, 2400 sq.ft., $6k (long time owner, Prop 13).

But in reality, not sure why this thread exists in isolation of other taxes (income, sales, fees, etc.). For example TX has high property taxes, but no income tax. My point is that the State government needs so much money to run, and property taxes is just one component.

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