What are your Real Estate Taxes (inspired by "What is your Income" Thread)

[rayelias]

After reading through the "What is Your Income" thread, many posters mentioned their extraordinarily high real estate taxes.

This might be difficult to track, because it depends a lot on house value and location, but it would be interesting to learn what people are paying in Real Estate Taxes.

After you vote, post a general location where your house is and a general property value. For privacy reasons, don't get too specific. This is more of a general FYI poll.



I'll start.

Philadelphia, PA Suburbs
3 BR Townhouse
Approx $350,000
$4,000 / yr in taxes


(thinking of) moving to South NJ
4 BR Home
Approx $500,000
$18,000 / yr in taxes

 

[CHOPR]

What the hey.


Wantagh,N.Y.
4br. colonial
approx. $635,000
taxes: $11,000 /yr. now--- slated to go up on recent expansion

 

[Simba's Mom]

Much to our relief, our taxes in our current home are "only" about $2700 (that's a fairly small home for just the 2 of us). Our last home, which we sold for about $200,000 had taxes over $5000 when we moved! The "joy" of living in South Texas. PLEASE someone tell me that Alabama property taxes are less-that's where I want to move when we retire-it's closer to WDW!

 

[Rozzie]

wow, I'm lucky!

Alabama-Baldwin County

taxes---$650.00
our home---2600 sq ft 4/2.5 new construction.
market value--$200,000

 

[HookdonWDW]

Much to our relief, our taxes in our current home are "only" about $2700 (that's a fairly small home for just the 2 of us). Our last home, which we sold for about $200,000 had taxes over $5000 when we moved! The "joy" of living in South Texas. PLEASE someone tell me that Alabama property taxes are less-that's where I want to move when we retire-it's closer to WDW!

I don't know where you want to retire in Alabama, but we pay less than $1,000 in taxes, and our house is 2600 SF and valued at around $225,000.

 

[rayelias]

The North East isn't faring too well!


At least we have beautiful weather year round, affordable housing, no crowding, and very little traffic!


And for you lucky SOB's down south, that's what we in the northeast call Sarcasm (another wonderful trait found in abundance up here).


Alabama's looking pretty good! Wonder if I can get a transfer?!?

 

[JerJan]

Northeast Ohio.....$3942.00 last year, home value $299,000.00 5/3 colonial. Taxes are way too high for what this stae does (DOESN'T DO!!!) with the money. Can't even afford to educate the children! I need to move back south!!!

 

[DisFlan]

I'm almost embarassed to tell what our taxes are. Like Rozzie, we're very lucky.

Taxes: $618.00 (That's up from 15 yrs. ago when it was $139. No kidding.)
House: 3000 sf, 3/4 bd, 2.5, 3 c/garage, 2+ acres, 80 ft. deck. Don't really know cost. Replacement on insurance says $372,000. We bought the original house in 1976 for $27,000 and rebuilt extensively.
Where: 40 mi. west Of Branson, MO. on Scenic Byway. Borders state park & National Forest. Lotsa hills and trees.

Someday, when I figure out how, I'll post a pic from our deck.

DisFlan

 

[dizplanner]

Fort Collins, CO
Property taxes: just over $2000
House: 2400 sq, We get reappraised every two years, was $287,500 in 2003, they tried to raise it to $338,700 this year. I appealled and just got it lowered to $307,000. I've had to appeal the assessment every two years for some time, but I do get it lowered every time.

 

[CharlesTD]

We have a small 40X60 lot and our taxes are over 1400 a year. Our house is small at only 1100SQFT 3 bedroom. The house we are building is on a quarter acre lot and is 2700 SQFT and the taxes are going to be over 4500 a year.

 

[zurgswife]

First Oops I posted wrong...picked number 1 should have been number too but just barely.

Philadelphia, PA Suburbs
4 BR Single family home
Approx $300,000
$1,300 / yr in taxes

 

[Tamar]

I don't mind paying income taxes, but really hate property taxes. Our house is an 1896 3 story Victorian, and because we bought it 5 years ago it is revalued every year...houses larger than ours in the same neighborhood that haven't changed hands in 15+ years pay 1/2 the taxes we do.....

 

[beagle744]

City of Milwaukee

1700 sq ft
4 br/2 bath
80 years old
45 x 130 lot
assessed at $190,000

taxes-over $4000!

 

[bobbiwoz]

Our $235,000 4 bedroom home in Ohio costs us about $4000 in property taxes.

Our main "problem" with the area is that we bought the house 10+ years ago for about $190,000, so there's been very little appreciation. However, it's a great house, but way to0 large for us "empty nesters," but we don't want to go through the hassle of buying a new one so close to DH's retirement. We have 3/4 acre.

Bobbi

 

[Duckfan-in-Chicago]

If I had to guess, I'd put the value of our house at about $450000 w/taxes of about $4000. I don't understand the property tax bill in Chicago, and no one else does either. We just compare it with everyone else in the neighborhood, and stand around complaining about it.

 

[ColoradoBelle1]

Home/Land: $1,200,000
Taxes: $9600
Sqft: 6000
Acreage: 6.7 acres
Colorado High Country

 

[OhioTony]

We live in southwest Ohio -- Brown County.
Out tax bill was just paid-- $380 2x ayear and we have a very nice home!
Also , our kids get out for a week the last week of Sept for the county fair(it's a rural community). Guess when we go to WDW?

 

[JimMIA]

Not gonna play this game, because it seems like an incredibly naive, simplistic question to me.

What are your real estate taxes? What difference does it make?

One person may only pay $2,000 in real estate taxes, but pay $10,000 in state income tax, $3,000 in city income tax, $800 for a tag for their car, and pay 10% sales tax on everything they buy.

Another person may live in Florida and pay $4,000 in real estate taxes, zero state or local income tax, $30 for a tag, and 6% sales tax...but not on groceries or professional services.

Who pays more taxes? And does it matter? What matters is your total local and state taxes, and the value you receive for those. You may pay an arm and a leg, but if you get good value for your tax dollars, you may benefit more than someone who pays less, but gets a LOT less.

 

[dianeschlicht]

Yikes, my real estate taxes are HIGH compared to most of you!!! In fact double what the majority are paying!

 

[Rozzie]

One person may only pay $2,000 in real estate taxes, but pay $10,000 in state income tax, $3,000 in city income tax, $800 for a tag for their car, and pay 10% sales tax on everything they buy.

Another person may live in Florida and pay $4,000 in real estate taxes, zero state or local income tax, $30 for a tag, and 6% sales tax...but not on groceries or professional services.

very good point.
we just moved from Florida (I know going the wrong way!) back to Alabama. The state income tax and tax on groceries make up for any we saved on real estate taxes. Our homeowner's is less, but not enough to take the bite out of paying state income tax. grrr....