Arrow#422 Posted November 28, 2019 Share Posted November 28, 2019 On 11/25/2019 at 6:23 PM, 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. Looking at the tax bills above: The Texas home looks like roughly 25 mils was being charged on an average taxable value of $261,500 to arrive at the $6539 bill amount. Market value is difficult to determine without a better knowledge on how they compute the exemptions, but here 2x taxable value gets you pretty close in reasonable markets ........$523K The Georgia home was being taxed at roughly 32.5 mils with an average taxable value of only $46,500. Market value would equate to about $93K +/- and if you'd lived there for some length of time I can understand how the $115,900 would be a bit higher than the "2x" figure above. Quote Link to comment Share on other sites More sharing options...
Moderators Travis In Austin Posted November 28, 2019 Moderators Share Posted November 28, 2019 13 hours ago, Arrow#422 said: Looking at the tax bills above: The Texas home looks like roughly 25 mils was being charged on an average taxable value of $261,500 to arrive at the $6539 bill amount. Market value is difficult to determine without a better knowledge on how they compute the exemptions, but here 2x taxable value gets you pretty close in reasonable markets ........$523K The Georgia home was being taxed at roughly 32.5 mils with an average taxable value of only $46,500. Market value would equate to about $93K +/- and if you'd lived there for some length of time I can understand how the $115,900 would be a bit higher than the "2x" figure above. Assessed value is FMV in Texas, the exemptions are statutory in that County (homestead, age, disability, etc.). However, they typically lag behind in catching up FMV when values are increasing. You start out typically at your purchase price. If you purchase a house for $250K, it may have been assesed at 150K the prior year, or even 275K, you are going to typically start of at 250K, and then they adjust from there annually. On residence they are capped at a 10% increase per year. Travis Quote Link to comment Share on other sites More sharing options...
Moderators Travis In Austin Posted November 28, 2019 Moderators Share Posted November 28, 2019 Here is an easy chart to show you where you are at in terms of state and local taxes. Some states favor consumers, retirees, etc. Who knows why Alaska has the lowest tax burden? http://worldpopulationreview.com/states/tax-burden-by-state/ Quote Link to comment Share on other sites More sharing options...
Marvel Posted November 28, 2019 Share Posted November 28, 2019 20 minutes ago, dwilawyer said: Who knows why Alaska has the lowest tax burden? Oil revenues... 1 Quote Link to comment Share on other sites More sharing options...
Marvel Posted November 28, 2019 Share Posted November 28, 2019 Our property tax is lower this year 😉 Previous county officials got the county in debt. New executive has managed to reverse a lot of it, so the tax burden has been lowered across the board. Quote Link to comment Share on other sites More sharing options...
Moderators Travis In Austin Posted November 28, 2019 Moderators Share Posted November 28, 2019 Just now, Marvel said: Our property tax is lower this year 😉 Previous county officials got the county in debt. New executive has managed to reverse a lot of it, so the tax burden has be lowered across the board. Winner, winner chicken dinner. Plus every resident of AK, including children, get an annual check from the state from the Permanent Fund, about 1,600 I think. So family of four gets about $6,500 from the state. 1 Quote Link to comment Share on other sites More sharing options...
Marvel Posted December 26, 2020 Share Posted December 26, 2020 Just paid prop. tax last week. This year it dropped from just over $1200 to around $550. We do have to pay for trash pickup around $30/month. Water isn't too bad... not on sewer. So the benefit of getting older is my taxes go down and I probably don't need tweeters for my audio system. 🙄 3 Quote Link to comment Share on other sites More sharing options...
Bubo Posted December 26, 2020 Share Posted December 26, 2020 WELCOME TO ILLINOIS $19K 2020 $4K 20 years ago IL looks like the Vietnam boat lift and now California Ferrari Full list pricing: SF90 Stradale Starting MSRP $628,750 488 Starting MSRP $333,750 812 Superfast Starting MSRP $338,750 F8 Starting MSRP $278,030 GTC4Lusso Starting MSRP $263,750 Portofino Base price: US$215,000 Engine: 3.9 liter twin turbo V8 Power: 591 hp @ 7,500 rpm Torque: 561 lb-ft @ 3,000 rpm 0-60 mph: 3.5 sec 0-124 mph: 8.7 sec Top Speed: 199 mph SuperSport 950 S 110 hp Power 69 lb-f Torque 184 kg (405 lb) Dry Weight BASE MSRP(US) $15,395.00 1 Quote Link to comment Share on other sites More sharing options...
JL Sargent Posted December 27, 2020 Share Posted December 27, 2020 Thanks guys for making me feel better. 2400 sft on 60 acres = $824.00 property tax. Sweet home Alabama. 3 Quote Link to comment Share on other sites More sharing options...
JohnJ Posted December 27, 2020 Share Posted December 27, 2020 (edited) .41 acre, 1160 air conditioned square feet, taxed for 1400 that includes the outside cement and porches. $3200.00 for the year 2020. I'm moving this spring. See-Ya Ha Ha!! * Where's my NJ painter buds, if you see this PM me! Long time no see, but I know you remember that see-ya song from the Polynesian!! Edited December 27, 2020 by JohnJ * Quote Link to comment Share on other sites More sharing options...
BigStewMan Posted December 27, 2020 Share Posted December 27, 2020 7 minutes ago, JL Sargent said: Thanks guys for making me feel better. 2400 sft on 60 acres = $824.00 property tax. Sweet home Alabama. that's a steal. my last place I bought in Los Angeles, property taxes were $6,600 per year. $550 per month just for taxes ... then there's all the rest of the expenses. Yikes! 1 1 Quote Link to comment Share on other sites More sharing options...
Thaddeus Smith Posted December 27, 2020 Share Posted December 27, 2020 10 acres, 2200 Sq ft house and a detached 2.5 car garage, pole barn. $1800 for 2020. Ag exemption goes along way and the main house is 30years old so we've been able to contest the value down significantly with the county. It's going to dramatically increase when we build the new house. 2 Quote Link to comment Share on other sites More sharing options...
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