What are your property taxes?

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Nowizard
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Re: What are your property taxes?

Post by Nowizard » Fri Dec 07, 2018 12:18 pm

Would have to look up to give exactly, but Tennessee with $550K appraisal and $2,650 annually (Within $200, at most).


Tim

rockonhumblepie
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Re: What are your property taxes?

Post by rockonhumblepie » Fri Dec 07, 2018 12:33 pm

$6000 on a 560k 2400sq ft shack with 5acres.
No state tax in Wa
8.9% sales tax

Sking up top,hiking out back.


Merry Christmas to All! 8-) rockon'

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Socrates28
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Health insurance was bargained away in the 90s in exchange for a higher salary.

Post by Socrates28 » Fri Dec 07, 2018 12:53 pm

Health insurance was bargained away in the 90s in exchange for a higher salary.
That is really a district by district thing and certainly not true for many schools in the Bay Area. Really bad negotiating by the union. $60,000 is not all that for a starting teacher, especially with no health insurance which is usually excellent through K-12 and post secondary school.

I have worked in both (Northern California) and have family (Southern California). Not a great place to build wealth if you are teacher in the Bay Area and have a limited salary, outrageous housing costs, no health insurance, outrageous property tax and high costs in general (fuel, sales tax, utilities, etc.).

J G Bankerton
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Re: Health insurance was bargained away in the 90s in exchange for a higher salary.

Post by J G Bankerton » Fri Dec 07, 2018 1:24 pm

Socrates28 wrote:
Fri Dec 07, 2018 12:53 pm
Health insurance was bargained away in the 90s in exchange for a higher salary.
I wish I did that. They can't take back money.

KevinC
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Location: Connecticut

Re: What are your property taxes?

Post by KevinC » Fri Dec 07, 2018 1:49 pm

A total of 169 Towns in CT all with different Tax/Mill rates...

Moved to Avon, CT over 10 years ago - Nice town with very good school system.

4,000 sf Home
Mkt Value $725K
Assessed Value $500K
Mill Rate 31.35
Taxes $15,675

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Toons
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Location: Hills of Tennessee

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

Post by Toons » Fri Dec 07, 2018 5:55 pm

dwickenh wrote:
Thu Dec 06, 2018 6:05 pm
Toons wrote:
Thu Dec 06, 2018 5:47 pm
670.00 per annum
1400 sq ft home
Large lot.
:happy
You gotta love Tennessee!!
One reason we retired here,
We were paying 5k a year for 1600 square ft in Western NY,
Home paid for. :D
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

Jebjebitz
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Re: What are your property taxes?

Post by Jebjebitz » Fri Dec 07, 2018 6:07 pm

NJ:
1722 sq. ft.
Assessed 420,000
Taxes: 13,000

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Flymore
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Re: What are your property taxes?

Post by Flymore » Fri Dec 07, 2018 6:14 pm

2700 sq ft. NE Ohio 8600 and going up! :annoyed

bungalow10
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Location: Chicago North Shore

Re: What are your property taxes?

Post by bungalow10 » Fri Dec 07, 2018 6:29 pm

$18,000 for 3,700 square feet, north Chicago suburb.

Great schools and services. I'm okay paying this for now while I have three kids in school, and I really love where we live.
An elephant for a dime is only a good deal if you need an elephant and have a dime.

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htdrag11
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Re: What are your property taxes?

Post by htdrag11 » Fri Dec 07, 2018 6:57 pm

pshonore wrote:
Sun Jul 01, 2018 9:30 am
dziuniek wrote:
Sun Jul 01, 2018 5:58 am
Connecticut:

$7,800 Property Tax - Value approx $350k.

... leaving CT ...
- was it something we taxed?
Lets remember that states with high per capita income (NJ, MA, CT, etc), pay out high salaries to public employees and provide very lucrative pensions and benefits. Average teachers salary in CT is approaching 100K. How many of those teachers would want to move to AZ or OK where teachers make $35K according to news reports.
Some of us have families (not jobs since retiring) in the area so we're eating the taxes here in the tri-state area. From the Tax Foundation site, our property tax is reflective of the 2.16%, but on a per capita basis, the two of us are paying 100% more. Being close to our offspring cannot be measured in dollars and cents.
We do understand that it's a "privilege" to pay for all the other pensioner's "negotiated" benefits.

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Socrates28
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Unions negotiate salary

Post by Socrates28 » Fri Dec 07, 2018 10:19 pm

I wish I did that. They can't take back money.
Unions negotiate salary basically every couple of years........so pretty stupid to give away health insurance.....

go try to find good, low cost insurance vs. a couple thousand of dollars that will be negotiated in 5 years :confused

mikeyzito22
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Re: What are your property taxes?

Post by mikeyzito22 » Fri Dec 07, 2018 10:58 pm

J G Bankerton wrote:
Fri Dec 07, 2018 11:40 am
Ratonawheel wrote:
Thu Dec 06, 2018 10:30 pm
800 per year on 190000.
Fairhope, AL Decent schools and roads for now.
I had to look and I'm :shock:

https://www.greatschools.org/search/sea ... 7&state=AL
Just to be clear: Greatschools.org is not a reliable source for school data at all. As a professional educator, there are far better approaches to gauge how schools perform and what its like to go to one of them. If you look at house prices in Fairhope, it's a different story! I can get a 4 bedroom for under 300K. However, then I live in Fairhope and there are big storms. To each their own and many ways to Dublin!

J G Bankerton
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Re: What are your property taxes?

Post by J G Bankerton » Fri Dec 07, 2018 11:19 pm

mikeyzito22 wrote:
Fri Dec 07, 2018 10:58 pm
J G Bankerton wrote:
Fri Dec 07, 2018 11:40 am
Ratonawheel wrote:
Thu Dec 06, 2018 10:30 pm
800 per year on 190000.
Fairhope, AL Decent schools and roads for now.
I had to look and I'm :shock:

https://www.greatschools.org/search/sea ... 7&state=AL
Just to be clear: Greatschools.org is not a reliable source for school data at all.
OIC, it did seem highly improbable.

erictiger
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Re: What are your property taxes?

Post by erictiger » Fri Dec 07, 2018 11:19 pm

Northern Illinois, we pay 22K for a 4700 sf house assessed at 760K, approximately 2.8%.

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TierArtz
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Re: What are your property taxes?

Post by TierArtz » Fri Dec 07, 2018 11:25 pm

$4700 per year on a roughly $700K house, and $3500 per year on a section of mid-west farmland of about the same value.

J G Bankerton
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Re: What are your property taxes?

Post by J G Bankerton » Fri Dec 07, 2018 11:33 pm

TierArtz wrote:
Fri Dec 07, 2018 11:25 pm
$4700 per year on a roughly $700K house, and $3500 per year on a section of mid-west farmland of about the same value.
In New Jersey an acer of land will cost from $4,000 to $10,000 in property tax, vacant land included. People with enough land get a farm assessment and pay a few hundred dollars an acer. You should look into that.

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TierArtz
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Re: What are your property taxes?

Post by TierArtz » Mon Dec 10, 2018 5:46 pm

J G Bankerton wrote:
Fri Dec 07, 2018 11:33 pm
TierArtz wrote:
Fri Dec 07, 2018 11:25 pm
$4700 per year on a roughly $700K house, and $3500 per year on a section of mid-west farmland of about the same value.
In New Jersey an acer of land will cost from $4,000 to $10,000 in property tax, vacant land included. People with enough land get a farm assessment and pay a few hundred dollars an acer. You should look into that.
Thanks for the information about NJ. That's still much higher than my mid-west state. A section is 640 acres, so the tax bill averages out to only $5.47 per acre/per year. Too bad the rent on some of it (dry land pasture) is only $12 per acre/year.

RightGuard
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Re: What are your property taxes?

Post by RightGuard » Mon Dec 10, 2018 6:29 pm

FL - Home Value $195,000 Taxes = $2250
County Sales Tax: 6% but greatly reduced on fresh/prepared food
No State Tax
Lots of Special Assessments and other add-on's to property taxes tho
And I'm waiting for a new city water/sewer special assessment that will be 20-25k :?


MO - 'Vacant' Ag' Land (Farm buildings but no Homestead)
14 Acres = $100/yr most of that is for public schools and the library.

LFKB
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Re: What are your property taxes?

Post by LFKB » Mon Dec 10, 2018 6:36 pm

$48k per year :(

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snackdog
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Re: What are your property taxes?

Post by snackdog » Mon Dec 10, 2018 7:52 pm

Is this actionable?

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3CT_Paddler
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Location: Marietta, GA

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

Post by 3CT_Paddler » Mon Dec 10, 2018 9:49 pm

renue74 wrote:
Thu Dec 06, 2018 4:07 pm

BTW... we pay $1800/year for a $300K house in SC. Of course, we have the worst roads in the USA.
You haven't been to Kentucky or PA (I grew up in SC... Not nearly as bad as PA).

Also it's primarily gas tax not property tax that pays for roads.

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3CT_Paddler
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Location: Marietta, GA

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

Post by 3CT_Paddler » Mon Dec 10, 2018 9:54 pm

Grt2bOutdoors wrote:
Thu Dec 06, 2018 5:58 pm
You pay one way or the other. High property taxes but you may have more services or convenience to desirable areas. Low taxes you may have services but you have to drive everywhere to access them or you may have less services or you may be subsidized by commercial rate payers but you may live in a commercial or industrial zone. In the end, you pay with a combination of money, time and/or aggravation (road congestion and constant construction) amongst the chief complaints.
Here in PA, you pay high taxes get crummy roads and good schools... You also pay for exorbitant Public pensions that are underfunded.

albireo13
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Re: What are your property taxes?

Post by albireo13 » Tue Dec 11, 2018 6:42 am

New Hampshire
$11,000 for $460K house, 2100sqft
Income Tax. 0%
Sales Tax. 0%

property taxes are high to fund schools, little state subsidies due to low taxes

BlueCable
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Re: What are your property taxes?

Post by BlueCable » Tue Dec 11, 2018 7:11 am

Iowa
300k house, $6500 property taxes
9% income tax
7% sales tax
Last edited by BlueCable on Tue Dec 11, 2018 7:13 am, edited 1 time in total.

McDougal
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Re: What are your property taxes?

Post by McDougal » Tue Dec 11, 2018 7:12 am

My county eliminates the school portion of your property taxes when you turn 62.
Went from $9,300 to 3,700 this year!!!
850K house, 3200 sq ft, 4 years old

D Newton
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Location: Down by the sea...

Re: What are your property taxes?

Post by D Newton » Tue Dec 11, 2018 8:36 am

Delaware
new, 2000 SF house; paid off
$1200/yr
When I turn 65 yro, <$800/yr
:sharebeer
Regards, | Doug

J G Bankerton
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Re: What are your property taxes?

Post by J G Bankerton » Tue Dec 11, 2018 10:08 am

D Newton wrote:
Tue Dec 11, 2018 8:36 am
Delaware
new, 2000 SF house; paid off
$1200/yr
When I turn 65 yro, <$800/yr
:sharebeer
Just for being old? Is it a % cut or a set $ amount?

J G Bankerton
Posts: 343
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Re: What are your property taxes?

Post by J G Bankerton » Tue Dec 11, 2018 10:52 am

BlueCable wrote:
Tue Dec 11, 2018 7:11 am
Iowa
300k house, $6500 property taxes
9% income tax
7% sales tax
I drove through Iowa; I must ask WHY?

pennylane
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Re: What are your property taxes?

Post by pennylane » Tue Dec 11, 2018 10:58 am

Camarillo Brillo wrote:
Mon Jul 02, 2018 8:25 am
Medium size town in Midwest.

5,100 sq foot house on 3/4th acre lot.

$8,600 prop tax
5.25% sales tax
7.65% state income tax

Gross slightly over $900K/year and save $500K/year.

We lived in SF Bay area for 19 years and marvel at the improved quality of life we now experience.
You Gross $900,000 but save $500,000? Your net pay should be about $8,624.89 per week which is a little over $448k for the year.. how do you save 112% of your take home pay after expenses? :confused

J G Bankerton
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Re: What are your property taxes?

Post by J G Bankerton » Tue Dec 11, 2018 11:28 am

pennylane wrote:
Tue Dec 11, 2018 10:58 am

You Gross $900,000 but save $500,000? Your net pay should be about $8,624.89 per week which is a little over $448k for the year.. how do you save 112% of your take home pay after expenses? :confused
"“We don't pay taxes. Only the little people pay taxes.”

mancich
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Re: What are your property taxes?

Post by mancich » Tue Dec 11, 2018 12:15 pm

$10,000 on a 2,800 sq ft home worth about $480,000 in Dutchess County NY (about 70 miles north of NYC)

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

Post by HomerJ » Tue Dec 11, 2018 1:03 pm

bottlecap wrote:
Thu Dec 06, 2018 7:35 pm
adamthesmythe wrote:
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.
1 and 3 are true at least.

JT
Yeah, 2 is not necessarily true. Short commute, maybe. We drive a lot in the Midwest, but we have good roads (and less traffic), good schools, and nice environment.
The J stands for Jay

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HomerJ
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Re: What are your property taxes?

Post by HomerJ » Tue Dec 11, 2018 1:10 pm

J G Bankerton wrote:
Fri Dec 07, 2018 11:19 pm
mikeyzito22 wrote:
Fri Dec 07, 2018 10:58 pm
J G Bankerton wrote:
Fri Dec 07, 2018 11:40 am
Ratonawheel wrote:
Thu Dec 06, 2018 10:30 pm
800 per year on 190000.
Fairhope, AL Decent schools and roads for now.
I had to look and I'm :shock:

https://www.greatschools.org/search/sea ... 7&state=AL
Just to be clear: Greatschools.org is not a reliable source for school data at all.
OIC, it did seem highly improbable.
Open your mind, son. Every state has some excellent schools. Some states have more than others, but it's ridiculous to think that ALL schools in the midwest and the south are terrible.
The J stands for Jay

D Newton
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Location: Down by the sea...

Re: What are your property taxes?

Post by D Newton » Tue Dec 11, 2018 1:13 pm

"Just for being old? Is it a % cut or a set $ amount?"

Elimination of school taxes after 65...sometimes it helps to be old :happy
Regards, | Doug

fareastwarriors
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Re: What are your property taxes?

Post by fareastwarriors » Tue Dec 11, 2018 1:46 pm

$5800 in Alameda County, CA
1,800 sq ft house.

J G Bankerton
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Re: What are your property taxes?

Post by J G Bankerton » Tue Dec 11, 2018 2:50 pm

$31,020 for tax year 2018. 5 beds 5 baths 12,561 sqft , 5.5 acers, in Mendham, NJ 07945
Guess the house, it was featured on a TV series; no not Jersey Shore.
That property is taxes at 1.85% of fair market value. My, slightly more modest, home in the same county is taxed, at 2.75% of its fair value. :confused

sschoe2
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Re: What are your property taxes?

Post by sschoe2 » Tue Dec 11, 2018 3:01 pm

snackdog wrote:
Mon Dec 10, 2018 7:52 pm
Is this actionable?
Sure you can move out of places that tax people out of their homes, you can vote against politicians that think that it is acceptable to do so, you can form coalitions to push for at least a 2% hard cap (1% is better) in your state...

J G Bankerton
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Re: What are your property taxes?

Post by J G Bankerton » Tue Dec 11, 2018 3:06 pm

sschoe2 wrote:
Tue Dec 11, 2018 3:01 pm
snackdog wrote:
Mon Dec 10, 2018 7:52 pm
Is this actionable?
Sure you can move out of places that tax people out of their homes, you can vote against politicians that think that it is acceptable to do so, you can form coalitions to push for at least a 2% hard cap (1% is better) in your state...
I now know that the more expensive the property the less percent in tax. I an taking actions to move on up to the East Side where the piece of pie is bigger and they keep more of it. :greedy

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

Post by Texanbybirth » Tue Dec 11, 2018 3:17 pm

HomerJ wrote:
Tue Dec 11, 2018 1:03 pm
bottlecap wrote:
Thu Dec 06, 2018 7:35 pm
adamthesmythe wrote:
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.
1 and 3 are true at least.

JT
Yeah, 2 is not necessarily true. Short commute, maybe. We drive a lot in the Midwest, but we have good roads (and less traffic), good schools, and nice environment.
Yeah my brother and his family are near KC. Fantastic area with good roads (and LESS traffic), good schools, awesome environment (people, weather, things to do), but everything is spread out. Of course, hailing from near-rural Texas I'm used to commuting, but I've been to those mythical cities where people actually do walk everywhere.

Claire dog
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Location: Illinois

Re: What are your property taxes?

Post by Claire dog » Tue Dec 11, 2018 3:22 pm

$9,600/year, 1500 sq ft house valued at $322k
In Cook County, IL

J G Bankerton
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Re: What are your property taxes?

Post by J G Bankerton » Tue Dec 11, 2018 4:03 pm

I noticed many Bogleheads live in Lake Wobegon, "where all the women are strong, all the men are good-looking, and all the children are above average". :beer

Camarillo Brillo
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Re: What are your property taxes?

Post by Camarillo Brillo » Wed Dec 12, 2018 9:25 am

pennylane wrote:
Tue Dec 11, 2018 10:58 am
Camarillo Brillo wrote:
Mon Jul 02, 2018 8:25 am
Medium size town in Midwest.

5,100 sq foot house on 3/4th acre lot.

$8,600 prop tax
5.25% sales tax
7.65% state income tax

Gross slightly over $900K/year and save $500K/year.

We lived in SF Bay area for 19 years and marvel at the improved quality of life we now experience.
You Gross $900,000 but save $500,000? Your net pay should be about $8,624.89 per week which is a little over $448k for the year.. how do you save 112% of your take home pay after expenses? :confused
Deferred comp. Besides my 401K and profit sharing, I defer nearly 400K/year. Of course the deferred comp has yet to be taxed but I 'save' that amount none-the-less.

shell921
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Re: What are your property taxes?

Post by shell921 » Wed Dec 12, 2018 10:03 am

$5600 in San Diego County, CA
4,000 sq ft house on 2.2 acre lot

TBillT
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Re: What are your property taxes?

Post by TBillT » Wed Dec 12, 2018 10:18 am

Sounds like property tax is not really Ca.'s big problem.

I pay $7000 in northern Virginia for a typical suburban house, much smaller than the San Diego case above.

But that does not count our *other* property tax CAR TAX
If you buy a new $40k+ car in NoVA, you will be owing 5% per year on the value, with some discount under $20k value.
So we are talking maybe $2000 a year per new car, declining as the car ages. So my cars are 2009 at the youngest.
So we don't see too many Tesla's here, that would be high annual tax.

About 15-20 states charge local property taxes on cars, but Va. is among the highest.

kcman
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Re: What are your property taxes?

Post by kcman » Wed Dec 12, 2018 10:50 am

Tennessee
Home Value: $475K
Property Taxes: $1,600
Income Tax: None
Sales Tax (State and County): 9.75%
Hall Tax (tax on dividends and capital gain distributions): 3% in 2018 and reducing to 2% in 2019, 1% in 2020 and 0 from 2021 onward

J G Bankerton
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Re: What are your property taxes?

Post by J G Bankerton » Wed Dec 12, 2018 12:08 pm

TBillT wrote:
Wed Dec 12, 2018 10:18 am
About 15-20 states charge local property taxes on cars, but Va. is among the highest.
I never thought of personal property tax. As electric vehicles become more popular and gas tax revenue falls I can see taxing the vehicles a flat tax; along with gat taxes of course.

State taxes have to be taken as a whole. NJ is a top tax state but there are no car taxes except for sales tax one time.

JackoC
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Re: What are your property taxes?

Post by JackoC » Wed Dec 12, 2018 12:34 pm

snackdog wrote:
Mon Dec 10, 2018 7:52 pm
Is this actionable?
Yes. While it's non-scientific it puts together examples of prop taxes in various areas with at times some commentary on services. That would be an important input into choosing a place to live, if choosing. Not everyone is choosing, not a perfect indicator, but I don't think either is required to avoid the deadly 'not actionable' label. :happy Also I'd discount the comment about 'band together with others to...XYZ about property taxes'. *That* is beyond the scope here.

Back to %, this is really not the be-all and end all. Higher prop values tend to correlate with lower %'s because the tax is determined in large part by what the taxing entities (ours is a combination of separate city, county and school board taxes, all three components significant) need to collect to provide the services. To some extent places with high prop values have to pay more for services (need to pay more to attract same quality employees in a HCOL area, etc.) but it's not fully proportional. Again I pay around 1% of market at a high absolute number ($21k/yr). Property owners in an adjacent city pay at least twice that % on much lower values. The two cities are dealing with basically the same costs of hiring employees, etc. I'm not getting twice or more as good a deal on property taxes as they are. That's an obviously too simplistic way to look at it. Rather, an owner in the next city in a roughly comparable property is paying roughly the same $'s for roughly the same services. Their properties haven't increased in value as much as mine in absolute $'s in the last 25 yrs, although the value of their properties might have increased more in % terms than mine in the last 25 yrs (their's was closer to a downright undesirable area 25yrs ago than mine was). Those issues aren't directly related to property tax though. People now looking to move to either my city or the neighboring one would be IMO foolish to choose mine because 'property tax is cheap at 1%', though might still prefer my city for other better reasons.

pennylane
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Re: What are your property taxes?

Post by pennylane » Wed Dec 12, 2018 2:51 pm

Camarillo Brillo wrote:
Wed Dec 12, 2018 9:25 am
pennylane wrote:
Tue Dec 11, 2018 10:58 am
Camarillo Brillo wrote:
Mon Jul 02, 2018 8:25 am
Medium size town in Midwest.

5,100 sq foot house on 3/4th acre lot.

$8,600 prop tax
5.25% sales tax
7.65% state income tax

Gross slightly over $900K/year and save $500K/year.

We lived in SF Bay area for 19 years and marvel at the improved quality of life we now experience.
You Gross $900,000 but save $500,000? Your net pay should be about $8,624.89 per week which is a little over $448k for the year.. how do you save 112% of your take home pay after expenses? :confused
Deferred comp. Besides my 401K and profit sharing, I defer nearly 400K/year. Of course the deferred comp has yet to be taxed but I 'save' that amount none-the-less.
Makes sense. I'm not at that level to know that, thanks for clarifying.

Take_Five
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Joined: Mon Mar 14, 2011 7:45 am

Re: What are your property taxes?

Post by Take_Five » Wed Dec 12, 2018 3:20 pm

Central Florida

$2000 on 2014 sq. ft home on 1/8 acre Zillow estimate $300K (so ~ 0.67%)
Excellent public schools for our 3 kids in our county (Seminole.)

No state income tax
7% sales tax

Where Florida living gets you is:
1.) electricity for your continual AC usage (we average ~$180 a month with a new efficient heat pump.)
2.) Homeowners insurance to pay for coastal hurricane damage; even if you're not on the coast. (I researched extensively and got down to $1500/yr for my above home with $1k deductible / 2% hurricane deductible.)

Still hard to beat

RobLyons
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Re: What are your property taxes?

Post by RobLyons » Wed Dec 12, 2018 3:33 pm

We need a prop 13 or similar in other states! I was going to file a property abatement this year but my property is undervalued, so I would likely lose.

Massachusetts
Actual market value: $500k
Assessed at: $360k
Rate: $13.61 per $1,000
Prop Tax: $4900
2019: Voted to increase 4%
Sales Tax: 6.5%
Income tax: 5.1%
"Great parenting sets the foundation for a better world"

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