Property taxes 🤔

[babadono]

20 hours ago, mungkiman said:

property taxes are almost 1% of the (perceived) property value

Using whose eyes? That's what mine are too supposedly. I couldn't sell my house for $1,020,000 if my life depended on it.

[MEH Synergy]

I pay plenty. I'm not too far off baba and I have a small house.  At times, sorry I decided to buy here.   Won't retire here though. Stuck for now I suppose.... 

[babadono]

3 minutes ago, Westcoastdrums said:

Won't retire here though.

Well yea who the hell can afford to?

[MEH Synergy]

3 minutes ago, babadono said:

Well yea who the hell can afford to?

Even if you can "afford" to with a little extra, why the hell would ya?   Several better options all bordering.... 

[Arrow#422]

20 hours ago, Rivernuggets said:

1700 sq ft house on <1 acre, close to $6000. We pay state income tax in WI.

But, you have way nicer roads than we do here across that big lake between us.

 

Property tax = Taxable Value x Millage Rate Levied

[USNRET]

A wash moving from GA with income tax to TX without income tax
Texas: 2680 sq ft on 1 acre in town; tax bill with exemptions for homestead and over 65. Note the School taxes. Zillow estimate $440k; any takers will sale TODAY
Georgia: 2400 sq ft on .6 acre on lake with homestead exemption appraised for and sold for $192k 2 years ago. Tax assessment market value was $115,900.
 

 

 

 

[JJkizak]

1 hour ago, USNRET said:

A wash moving from GA with income tax to TX without income tax
Texas: 2680 sq ft on 1 acre in town; tax bill with exemptions for homestead and over 65. Note the School taxes. Zillow estimate $440k; any takers will sale TODAY
Georgia: 2400 sq ft on .6 acre on lake with homestead exemption appraised for and sold for $192k 2 years ago. Tax assessment market value was $115,900.
 

 

 

 

 

This chart disturbs the crap out of me.

JJK

[Gilbert]

23 hours ago, Rivernuggets said:

1700 sq ft house on <1 acre, close to $6000. We pay state income tax in WI.

 

Ouch!!! Bend over, Wisconsin is driving.

[Rivernuggets]

33 minutes ago, Gilbert said:

 

Ouch!!! Bend over, Wisconsin is driving.

With this I feel like I'm in the back seat.

[Travis In Austin]

None of you can figure out what for? Seriously? Try going to a City Council or a County Govt. meeting, just one time. It's probably televised or available for streaming so you don't have to get up off your couch.

 

 

 

Do you have paved roads,  fire department, police department, library, parks, EMS, Sherriff's office, Extension Agent, schools, running water, sewer, electricty?

 

The East Coast has the highest overal State/Local tax rates. New Jersey,  New York, Connecticut are historically the top 3. Massachusetts, New Hampshire are always way up there.

 

If you are really interested in know where your state stands in terms of state and local tax burden go here, click your state and it will tell you everything you want to know.

 

https://taxfoundation.org/center/state-tax-policy/

 

Then click to see what your state's tax freedom day is (it will be a date in April, or possibly early May), the date the avg tax payer begins working for themselves and not the state/local govt.

 

What is more critical to know if what is your state's liquor tax.

 

 

 

 

[richieb]

} We tend to bittch and moan about taxes yet expect to live in cities that have, offer a first class living environment. The best schools, well maintained roads, plenty of green space, low crime rates and on and on. I actually just received my first half property tax bill for 2020. I haven’t even looked at it - it is what it is. I’ve mastered the ability to write checks with my eyes closed while fully bent over —

[HDBRbuilder]

11 hours ago, Sam S. said:

One of the reasons eventually I'd like to move someplace else in retirement is high taxes (and weather). My property taxes (2400 sq ft house in city) are $6,000/yr. Sales taxes here 7%, state income taxes around 7%. Plus, Nebraska has an inheritance tax of 1% (with minor exemptions), and taxes social security income at the same rate of income (7%). 

 

HDBRBuilder: Heard good things about NW Arkansas -- on my list to visit, but not so much sold on rural areas. I'm thinking maybe Fayetteville or Bella Vista area.

Northwest Arkansas has huge amounts of "rural Arkansas" areas within just a few minutes' drive to the extensive metroplex in that area (which begins with Fayetteville, Springdale, Rogers, and Bentonville, the third, fourth, eighth, and tenth largest cities in the state....and extends all the way to the Missouri border)...and most of those rural areas also have city water lines already run out to them!  The area bounded to the west by the Oklahoma state line and to the east by that metroplex, is ideal for rapid city access while retaining a rural environment.

 

The current tax year (2019) will be the first tax year where I am exempt from paying ANY STATE INCOME TAX AT ALL!  The legislature passed a new law about two years or so ago exempting all military pay, including that of active duty and reserve component personnel, AND MILITARY RETIREES from state income tax on those earnings!  So I haven't even paid in any money this year for state income taxes because all of my income is NOW tax exempt here!  GOTTA LOVE IT!  I am also getting VA disability and social security now...both already tax exempt here!  GOTTA LOVE IT!  Plus, I will now have very little that is taxed under the federal income tax codes....just my military retirement check and a few annuities!  The only other income I will end up having to pay any kind of Federal income tax on will be miniscule, to say the least!😉 I went from having basically the same amount of income before I retired on 30 November 2018 ...to having the same "take-home" amount still coming in, but now paying far less in state and federal income taxes on any of it!

 

My wife is considerably younger than I am, so I will be starting up a business for her...but neither of us will actually "DRAW salaries" from it, preferring to "defer receipt of salaries earned", in case we actually need the money "further on down the road".  Instead, we will utilize "the advantages of LLC ownership" to cover many of what could have been "individual income out-lays" over time. "Advertising expenses" covers lots of ground, ya' know?  And there are other advantageous business expenses, too!

 

My father gave me some very good advice for my college days..."Son, it DOES NOT MATTER WHAT YOU END UP MAJORING IN, just select electives which will do you some good later on in life, such as business law, accounting courses, and things like that...just in case you end up starting your own business sometime in the future!  Even if you start up your own business and have an accountant handling those things, you will still need to ensure that accountant is not ripping you off...so take what is necessary elective-course-wise to help keep that from happening!"  So that is what I did....my Dad was a smart guy!😉

[oldtimer]

They should have a tax on exclamation points.

[HDBRbuilder]

20 minutes ago, oldtimer said:

They should have a tax on exclamation points.

My Senior English teacher is rolling over in her grave...so be it!😂  I'm not, after all, writing a novel here...so who gives a flying XXXX?  At my age, worrying about punctuation is the least of MY worries, anyway.

[HDBRbuilder]

1 hour ago, dwilawyer said:

What is more critical to know if what is your state's liquor tax.

 

Not a worry for me....LRAFB Class VI store all the way...no liquor tax at all!  Now that ya mentioned it though...I haven't had but a couple of beers since the last time I was in Hope over a month ago...for the Roy thing....think I will get another one or two outta the fridge for this evening!  Konig Ludwig Heffe-Wiess bier, anybody?

[Skelt]

Its been a long time since I've had a good hefe wiessen. I'll take a rack of those please

[Bosco-d-gama]

It is not so much that folks resent taxation. Revenues are certainly necessary to sustain a metropolis. Sometimes it is how those funds get spent that rubs people wrong. There’s a ditch digger joke in our joke thread right now that illustrates this. Cities get sloppy and wasteful with unearned funding. Here locally a favorite peeve are the management positions. Our leadership says they have to offer salaries comparable to ‘big cities’ in order to get competent help at the management level. Then you learn that the guy they hire is someone’s buddy or relation who is not in any manner qualified for the job. Unionization, for all its positives, lays out a bloc vote that can be bought by candidates/parties, etc. 

 

Guess I am saying that citizens do not have enough control over how their taxes get applied. And from the sounds of things we all pay dearly and some feel we should be satisfied with paved roads, 911 services and public education that seems intent on getting worse.

[BigStewMan]

4 hours ago, Bosco-d-gama said:

Then you learn that the guy they hire is someone’s buddy or relation

after years of working for a county government, i’ve come to believe that many job recruitments are a sham, they already know who they want to hire. Not true in all cases for sure; but it’s funny how often workers can predict accurately who is going to get the job.  

I’ve been on an interview panel before and clearly favored one applicant. The second in command wanted a person that he knew and made it clear that his recommendation was for that person because “i know her.” The first in command naturally sided with his second in command over my recommendation ... and people hated the new person. That old saying “it’s who you know ...” is alive and well. 

[Paducah Home Theater]

I was cool with property tax on the house but I just spent $2,300 in property tax on my stupid speakers and that number will probably at least triple next year.  Probably looking at $7,500 just because I have speakers laying around.  It's silliness.  That's in addition to the house and other stuff.  Could easily be 5 digits next year.  That's in a rural low income and low cost of living low tax area too.  

[Travis In Austin]

33 minutes ago, MetropolisLakeOutfitters said:

I was cool with property tax on the house but I just spent $2,300 in property tax on my stupid speakers and that number will probably at least triple next year.  Probably looking at $7,500 just because I have speakers laying around.  It's silliness.  That's in addition to the house and other stuff.  Could easily be 5 digits next year.  That's in a rural low income and low cost of living low tax area too.  

I guess that's why you see inventory clearance sales. What day do they count it in Kentucky?