We paid $9700 last year. We live in Southeastern Connecticut on the coast. We have 3 acres. we had a 2.85 mill rate in 05’
Shows how things can be different from suburb to suburb. We paid for our house about what you say yours is worth…it’s probably worth another hundred grand now, due to fast-rising property values in our area. We have a regular city lot (what’s that, maybe 1/8 of an acre?) Our taxes last year were around $9000.
We’ve been paying $5,500/yr, but just got reassessed. House is worth about $375k I think my taxes are going to go up to $8-9,000/yr. For some reason, our house was ridiculously under-assessed in comparison to houses on the same street. As in, 30% below similar houses and equal to houses with much smaller lots and living space.
I think there were some tax shenanigans during the last assessment, but I’m not going to say a thing, lest they decide that I owe back taxes for the last decade when I’ve only lived here a year.
I think I need to read up on this new law, doesn’t surprise me that it looks good on paper but won’t do a damn thing in reality.
Essex County, NJ.
We pay about $6500 a year in property tax on a 3/2 semi-detached that is less than 2,000 square feet. Our yard is just slightly bigger than our house’s footprint, one story with garage, well less than 1/4 of an acre. This is in Florida.
To make it official. We paid $8,900 last year in property taxes. Thats 2% on the assessed value. That is actually not bad compared to a lot of the state. It would be at least double that in the town I grew up in. Strike that, maybe four times as much. This property would be assessed at over a million in Middlesex County and the rates are higher. Rates are lower in Hunterdon County but they are catching up. And for that we get fewer services. The house is on 3.2 acres, I don’t remember the footage.
Add to that the high state income tax, sales tax, the countries highest auto insurance rates (the previous elections hot button issue that wasn’t fixed) overall high cost of living. It’s no wonder that people are leaving at a record rate.
I suspect the arrangement is a bit different here. I pay local council rates to the tune of about $600 each year. But I don’t pay any tax on the value of my home.
In 1980, in Louisiana, we paid $50 a year for our $40K house. That’s right - a year. Thanks to oil back then, of course the schools sucked.
$23 a year on our lot in New Mexico at the corner of Cactus and Cactus. My father bought it 40 years ago - someday it will be worth something.
About $5500 in the Bay Area. Our house is worth about $800 K now, but we got it for $350K, and things don’t get reassessed here in the natural course of business. The people we bought it from, who had it for quite a while, paid under $1K.
We moved from NJ. The property taxes were higher there, but the schools were a lot better and we got better services.
Funny you should ask – Razorette says we just got our tax assessment for '06, and we owe $800 (roughly) on 3.5 acres, 2-bath, 3-bedroom house, oversize garage, all with a market value of about $160,000. So annual property tax is about 0.5% of the market value of the real estate.
Almost forgot to add: For perspective, we live in rural eastern Colorado. The situation is vastly different 100 miles west of here.
$4,400 a year. It will be $5,000 after the district votes next month to build a new high school. My house is assessed at $170,000 but I paid double that for the house. 3BR, 2,200 SF split level with 1/4 acre.
We do have a state income tax and local wage taxes as well.
After PA’s property tax ‘reform’ passes in May, the property taxes will go down about $500 but my wage tax should go up about $1,500. And the sales tax will probably go up about 1% next year to accelerate property tax cuts for older Pennsylvanians.
I wonder if I can find a job in New Hampshire before then.
About $7400/year, based on purchase price of $570k. About 1.3%. El Cerrito, CA - the SF Bay Area.
Higher taxes or lower?
Our tax rate (Fairfax County VA) is .89 per 100 of assessed value. Also, houses here tend to have tax assessments somewhat below their salable value. For example we bought in late 2002. The assessment the following spring was only about 80% of the price we’d paid. Spring 2004 was still only 90% of what we’d paid.
Our most recent assessed value is still less than what the place would sell for, but not by much. Our tax bill has roughly doubled compared with the bill for 2002.
Oh yeah - our tax bill was about 6100 last year. No clue what it’ll be next year but I doubt it’ll get lower. I consider myself lucky though - My brother lives in a Chicago suburb in a house that probably is similar in value to mine (maybe a bit more - housing isn’t as insanely priced but theyre close in, in a fairly desirable town). His taxes were seventeen thousand, several years back. Apparently they don’t get the same level of state funding for their schools that we do in VA, so it’s pretty much all paid through property taxes. Yowza.
Near the Jersey shore, by Red Bank. $4100 for a $235,000 home. Includes trash pickup, which is a very nice touch. Considering the value of the house, we’re getting away better than Middletown, Tinton Falls, Neptune, Red Bank and Eatontown.
South Jersey:
9k/year
DC, I need to check again, but last year we paid roughly $1500.00. We are getting a homestead exemption which keeps it from rising too high too quickly. Our neighborhood was also assessed at a much lower rate than what properties were selling for. Its going up but still hasn’t hit the purchase price.
*jaw drop
'Bout 5 years ago Mr. 'addi and I were looking on some real estate site at the Hill Country near Austin, TX. We found a very pretty home on 2 acres for about 350K. We just about fell over when we saw the tax details on the listing and I thought it had to be a misprint. It was $12,000! I emailed the agent to see if they added on a zero by mistake. They didn’t.
Hint: we don’t live in a pretty house on 2 acres in the Hill Country.
My property tax bill went up last year from $2,200 to $3,700. I’ve got a fixed rate mortgage, but payments jumped by $200 a month in October; the bank insists on taking out more than what is needed for the escrow account, and refunding the difference at the end of the year. It’s a 2,200 square foot single family house in an older middle-class suburb of Cleveland, Ohio.
Suburban Buffalo, New York supposedly has the highest property taxes in the United States. My parents live in a 1,800 square foot house on a 1/3 acre lot in an upper middle class suburb. It would probably sell for about $180K if it went on the market today, an indicator of the dismal local economy. Their annual property tax bill is about $5,500 - after the senior citizen discount.
I’ve come to the conclusion that the senior citizen abatement is worthless. The same thing happened to my mom this year. She’s on a fixed income. I’m her POA. I have no idea how she’s going to pay it.
It’s as though the town is saying, “OK, you’ve lived here long enough – off to the NH you go!”
:mad: