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

[beagle744]

Wisconsin income taxes are high as an earlier poster from Wisconsin mentioned.

For a married couple filing jointly with a taxable income between $22,960 and $172,200 the 2004 tax is $1234.10 + 6.50% of the amount over $22,960.

State sales tax is 5%, some counties impose an additional .5% and some counties required to fund the construction of our baseball stadium pay an additional .1% (I'm lucky enough to fit the bill for all of the above )

 

[CharlesTD]

Actually Viking our sales tax doesn't pay for the health care it is our income tax that covers that and our perscription drugs are not all that cheap mind you with teh drug plan at work it is very inexpensive but to pay outright is quite expensive I am sure not as expensive as in the US but expensive none the less. As is our Dental care I can't believe what a dentist will charge just to look ar your damn teeth.

 

[Disneyfan63]

Hi,

South Jersey suburbs
2 BR townhome
Value $90,000
Taxes $3,500+ in 2004

My condo fee went up 38% from last year, and I have a sinking feeling my taxes will go up a lot, too.

Jim

 

[littlestar]

South side of Indianapolis. We are "sports" poor. Our township property taxes went up to pay for a "press box" and unbelieveable high school sports facility (some ex jock living out his sports dream is what we heard).

House : Valued at $170,000 (about 2100 square feet)
Property Taxes: $3,200 a year and climbing again we heard

We figure we are going to get hit majorly when the Indianapolis Colts get their new stadium with the retractable roof. Why do they need a retractable roof? It's cold here most of the time. We nicknamed our mayor Bart Simpson instead of Bart Peterson.

 

[beagle744]

South side of Indianapolis. We are "sports" poor. Our township property taxes went up to pay for a "press box" and unbelieveable high school sports facility (some ex jock living out his sports dream is what we heard).

House : Valued at $170,000 (about 2100 square feet)
Property Taxes: $3,200 a year and climbing again we heard

We figure we are going to get hit majorly when the Indianapolis Colts get their new stadium with the retractable roof. Why do they need a retractable roof? It's cold here most of the time. We nicknamed our mayor Bart Simpson instead of Bart Peterson.

littlestar,
You're right-you'll pay for the new Colts stadium. But there are some extra benefits to the retractable roof idea. Miller Stadium (Milwaukee Brewers) had some neat water features that turned on every time it rained.

 

[KANSAS]

1240 square foot home
4 bedroom
1 1/2 bath
Pool
appraised at $135K
SOUTH CENTRAL KS
$1589 per year

 

[Melrosgirl]

Our low taxes in our area are the only reason we are not moving to a newer house. I'd like a 3,000 sq. ft. new home, but the taxes would be about double and the land area smaller with no pool.

PA
2200 sq. ft. with basement and 20x40 swimming pool (home is 50 years old)
1/2 acre
$3100 taxes
House value: $250,000

 

[THE WIGGLES]

Taxes are high but I can't complain about the quality of life. Good schools, good services, and Suffolk County has the lowest crime rate in the nation.
2700 square foot home on 1 acre
taxes $13,500

 

[Pig Pen]

Chittenden County, VT - 2000 sq, 3 bed 3 bath, 3.5 acres, $250,000, taxes are about $3,000.

 

[lcsmom]

The joys of Texas and taxes.
$345,000 home - over $10,000 to seven different taxing agencies. Plus the 8.25% sales tax. Don't forget the $1500 for homeowners insurance. But, at least the car tag is only $72.

 

[SlightlyGoofy]

I love living in the midwest. We bought our approx 4500 sq ft 18 room home(dirt cheap) during the energy crisis of the '70's when everyone was scared to death of big houses. Because of the way it is built and laid out the energy costs have been comparable to much smaller homes and is so well built (over 100 years old) that maintenance is not expensive either. In a small town (think Mayberry) in the middle of a triangle of Cincinnati, Indianapolis and Louisville so the best of all worlds. Because I have done the vast majority of remodeling myself and on the cheap it is now worth several times what we paid for it and our property taxes are only $700 a year due to the fact that I was also smart enough to marry a much older man so we qualify for a senior deduction. Hint, if you live in Indiana, or any other state check and see if you qualify. Indiana does not advertise this deduction and it is easily 30% off your property taxes.

If only it were closer than 1.000 miles from DW it would be perfect.

Slightly Goofy

beagle744, I feel your pain. I think it stinks also and cannot figure out why the counties around Indpls would willingly add to their taxes to help support the Colts. I keep waiting for the Mayflower trucks to come back.

 

[Luigi's Girl]

Because I have done the vast majority of remodeling myself and on the cheap it is now worth several times what we paid for it and our property taxes are only $700 a year due to the fact that I was also smart enough to marry a much older man so we qualify for a senior deduction. Hint, if you live in Indiana, or any other state check and see if you qualify. Indiana does not advertise this deduction and it is easily 30% off your property taxes.

Anyone ever heard of this deduction in NJ? Not that I'd qualify, just curious.
BTW, we live in Central Jersey and our property taxes are $6500.00 and our home is valued at a little over $500,000.00.

 

[pklein09]

Luigi's Girl, there is a Senior Property Tax Freeze in NJ. You have to apply for it every year just like the Property Tax Rebates or NJ Savers Rebate. Here's the link for the requirements (my apologies to the moderators if this isn't appropriate)

http://www.state.nj.us/treasury/taxation/index.html?propfrez.htm~mainFrame

BTW....where in Central Jersey are you? That seems like cheap taxes for the value of your house. Is the $500,000 the market value or the assessed value?

 

[SlightlyGoofy]

I do wish there were a tax freeze for Seniors in every state, at least on homes worth under a certain amount. I know of many who have had to move just because of the taxes.

There is an income limit in our state but they only count Earned Income so it is fairly easy for many to qualify. Home has to be worth less than a certain amount too but it is pretty generous as well. They do not count SS income, interest off investments and such.

The taxes would not be so onerous if only the government spent it more wisely. We have visited many retirement communities where there is a monthly acessed fee, on top of local property taxes, and it is truly interesting how many more services and how much better quality they provide for that relatively small amount. Since we do not actually live in one I may be wrong but I am sure someone on here knows better than I and will set me straight.

In our small town there are few services but many volunteers so much gets done for a small amount of money. I try to do my share.

Slightly Goofy

 

[Luigi's Girl]

pklein09, thanks for the info on the Senior Property Freeze. I want to pass that on to my parents. I also sent you a PM.

 

[3DisneyNUTS]

Holbrook NY
House worth about $420K 3br 2full bath (blah blah) and taxes are about $6500 for 1/4 acre of property

We bought the house for $156K in 1998 so I feel weird complaining about the taxes since couple starting out right now cannot even afford a house.

 

[Stimpy]

Holbrook NY
House worth about $420K 3br 2full bath (blah blah) and taxes are about $6500 for 1/4 acre of property

We bought the house for $156K in 1998 so I feel weird complaining about the taxes since couple starting out right now cannot even afford a house.

If it makes you feel better, we're practically neighbors and our taxes are twice as much! Misery loves company LOL

 

[carone0318]

I just had our home built and we moved in on 6/21.

It's a 4bdrm, 2.5 bath roughly 3000sqft on about 11000sqft lot, value $435k, taxes about $9200. I know that my taxes are sort of high because I live on a golf course, but still. Just thought I'd join the ranks of the other NJ people, we seem to have the highest taxes. The only perk to living in NJ is we don't pump our own gas!

 

[Cruelladeville]

Well, this very interesting thread just showed me that I can't afford to live anyplace but Michigan! (except NM and AL, which are looking pretty good) I live on a lovely tree-line street, and just a block to the south and west stands Lake Michigan. Our whole county only has 28,000 people, and lots of fruit, dairy, and tree farms. State income taxes are 3.9%, and 6% sales taxes, none on food or perscriptions. Our property taxes are tied to the cost of living, so they stay low until the property is sold. We have an 1870 Italianate with 4 bedrooms/2 baths, valued at $225,000, but property taxes are only $1500, because we have owned it since 1978.

I wonder if this has anything to do with the amount of vacation time/points a person has? In other words, higher property taxes means less vacations? The people in NJ seem to pay a huge amount of taxes--how are y'all able to afford points, too?

 

[pklein09]

I wonder if this has anything to do with the amount of vacation time/points a person has? In other words, higher property taxes means less vacations? The people in NJ seem to pay a huge amount of taxes--how are y'all able to afford points, too?

One of the things we have learned through family and friends living across the country is that DH would not make anywhere near what he makes in Manhattan doing the same job. He salary could be up to 40% less in other parts of the country. So, higher salary, higher taxes. It just goes with the territory. On the up side, when we decide to retire we should be able to go just about anywhere (excluding CA, HI, and a few other places) and retire comfortably because we'll sell our house for a nice sum and ditch the high taxes.