Property taxes 🤔

[Bosco-d-gama]

T’is property tax time again. This year my full tax liability was $3,323... and change. This is for a 1750 sqft sfr in a rural state. Given the enormous gov’t expense numbers tossed about these days I was wondering how much taxation others face.  How much is your property tax bill this year?

[Thaddeus Smith]

Just a hair under $2k for 10 acres and a 2,200 sqft house. Most of it goes towards the house and couple acres we have developed, with the rest being covered by AG exemption.

[Kidd]

My 1300 sq ft home is    'bout   $1200

 

[BigStewMan]

The last home i owned in SoCal (purchased circa 2004), property taxes were $7,200.

[CECAA850]

$3800 for about 2600 Sq ft.

[Bosco-d-gama]

I do know that in my arena that property taxes can easily vary by 100%, or more..... based on location. My prior home that’s within 10 miles from where I now live had taxes over $5k annually and that was 6 years ago. One thing is certain - they’ll never go down. 

[BigStewMan]

They had prop 13 in california that kept the taxes down; but when you sell the place, the new owner gets screwed because they reassess and the new owner pays the current rate. 

[JBCODD]

I have been living for the past 25 years in two states with low property taxes: Colorado and Arizona. These low taxes have been reflected in shamefully low education funding. The tax rates have been well under 1% of market value. 

  I have a sister in Orange County New York who pays over 20k per year. I don't think her schools are 10x better.

[JJkizak]

They always tell you the levy will only add 100 dollars to your bill in spite of the fact that 100 new homes were added to the levy that they didn't mention. But they want more money anyway.

JJK

[Travis In Austin]

You don't have enough keys to the puzzle, in order to compare apples to apples and oranges to oranges you need to know the following:

 

1. What portion of your property tax goes to the school district

 

2. What is your state's tax rate, if any

 

3. Does your state, county and/or city charge income income tax (this is a big factor)

 

4. What does your state charge for gasoline tax

 

5. Does your state derive a significant amount of revenue from a business segment such as gaming, oil and gas, mining, etc.

 

6. How much of your state consists of federal land

 

What you will find, overall, is

 

1. States with no income tax make up for it with higher property taxes

 

2. States with better public schools spend more per student, and thus if a portion of  your property taxes fund your school district, and they are good schools, your property taxes will be higher than average, because they are paying more per student than average.

 

 

 

Travis

 

 

[Bosco-d-gama]

Mmmmmm - not necessarily. Last I checked states who paid the highest in educational salaries were no where near tops in actual educational performance. Of course educators will shift the blame for poor student performance back to the family’s. But educators seem to forget that our educators have been teaching for generations now - so - the educators educated the same parents who now supposedly fail their students. We have generations of poor education and everyone pointing fingers elsewhere.

 

That said absolutely everywhere in the country will be subjected to the annual ‘woe is the teacher’ campaign for higher wages. Teachers can “do better” if they get paid more. Show me one school district where a raise in wages resulted in better educated students. I have never seen one.

 

 

[Ceptorman]

2200 square ft, on 1 acre, $1400 per year.

[mr clean]

1600 sq ft, on .66 acre. $1200 per year. 

[Gilbert]

2 hours ago, dwilawyer said:

You don't have enough keys to the puzzle, in order to compare apples to apples and oranges to oranges you need to know the following:

 

1. What portion of your property tax goes to the school district

 

2. What is your state's tax rate, if any

 

3. Does your state, county and/or city charge income income tax (this is a big factor)

 

4. What does your state charge for gasoline tax

 

5. Does your state derive a significant amount of revenue from a business segment such as gaming, oil and gas, mining, etc.

 

6. How much of your state consists of federal land

 

What you will find, overall, is

 

1. States with no income tax make up for it with higher property taxes

 

Travis

 

 

 

 

Bingo!!!   That's the same conclusion I came up with after moving to OK and then back to TX.   It was pretty much a wash.

 

 

[BigStewMan]

i haven’t bought here in Oregon and not sure if I will -- I still might.  VA gave me a disability rating of 60% and i read that Oregon has a program where that high of a rating may qualify me for property tax exemption.  I haven’t looked into all the particulars, so not sure if there are other things necessary to qualify or if just having the disability rating is qualification enough. 

[Arrow#422]

A better measure may be to look at the millage rate as property / home values vary GREATLY nationwide.

SEV x 2 used to give you an idea of market value, but that has gotten quite out paced with the recent housing "shortage" in many areas.

It's not uncommon to see homes selling for 2.5 to nearly 4 times SEV here recently.

Your taxable value is assigned by your local assessor based upon square footage, acreage, and any appurtenances they are aware of.

It is the millage rate being applied to your taxable value that will determine your tax liability.

38 mils is roughly the norm here for owner occupied single family residences.

Rentals, income property, non-homesteaded / non-primary residence will see an additional 18 mils charged to them on their yearly tax bill.

For reference & math considerations, a $200K primary residence home with a $100K taxable value @ 38 mils would equal $3,800 in yearly property tax due + a 1% administration fee of $38 for sending you the hard copy invoice : (

This same house as a summer home / non-homestead residence would balloon to 56 mils and have a yearly tax burden of $5,600 + $56 for the billing fee.

 

[JohnJ]

Look into it!

1400sq ft .33acre $1500 here at the rate with disability. It would be twice that much otherwise.

[Bosco-d-gama]

21 minutes ago, BigStewMan said:

i haven’t bought here in Oregon and not sure if I will -- I still might.  VA gave me a disability rating of 60% and i read that Oregon has a program where that high of a rating may qualify me for property tax exemption.  I haven’t looked into all the particulars, so not sure if there are other things necessary to qualify or if just having the disability rating is qualification enough. 

I believe there are discounts afforded in most states for several types of circumstances. As previously mentioned prop 13 in Cal give some protection to elders who hung on to their properties. Where I live most of the native citizens are becoming unable to afford housing or to keep housing they already own...... they just never had the opportunity to earn enough to deal with current costs.

[Arrow#422]

Our yearly property tax increases here in Michigan are capped at the rate of inflation or 5% - whichever is less.  Over time the SEV will likely outpace the taxable value giving the homeowner a "break" on the tax.  Once a home is SOLD, the selling price will determine the new taxable value as it then becomes "un-capped" at the time of the sale.

 

Again the millage rate & taxable value determine the tax.  If I took the exact same 1400 sf / 3 beds / 1.5 baths / full basement / 2 stall garage primary residence in the same condition and placed them within 5 miles from one another - here - I could fully expect to see millage rates vary from a low of 30 up to nearly 70 mils all depending upon the municipality / tax district it was in.  I could also see the taxable value for each home vary from about $40K - $120K all within the same 5 mile proximity (that'd also indicate rough market value range of $80k - $240k).   School millage, bonds, debt, city income taxes or the lack of, water & sewer rates, garbage service, police & fire coverage, 911 dispatch fees, etc all play into the millage rates being charged...here.

[tube fanatic]

The 2800 sf house on 2 acres which I sold last year had taxes of $12k/year!  You guys in the rest of the country should appreciate  how little you pay in comparison.  And, we pay state income tax too.  Don’t move to NJ!!!

 

 

Maynard