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Old 07-30-2007, 10:06 AM
 
3,259 posts, read 3,770,880 times
Reputation: 4486

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hey folks... i'm curious as to how much upkeep one could expect to pay for various pieces of real estate in alabama. this includes everything like property taxes (which i know varies) and insurance. let me know if estimates are way low, way high, or about on target.

assume the properties are not in "high risk" areas for insurance purposes (aka not near the coast, not on a floodplain, etc.)

how much annually would it cost to pay applicable taxes and fees on:

- a $750,000 home in an upper-middle class city in the Birmingham metro area, like a Hoover or Vestavia. (I estimate ~15k)
- a $1,500,000 home in an upper-middle class city in the Birmingham metro area, like a Hoover or Vestavia. (I estimate ~35k)
- a $1,500,000 luxurious lakehouse on a fairly large lot in a major lake in Alabama (Logan Martin, Smith, Lay, Martin, etc.) (I estimate ~35k)
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Old 07-30-2007, 07:38 PM
 
23,600 posts, read 70,412,676 times
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Upkeep and everything? Does that include lawn service, periodic roof repairs, painting every X years, utilities? Property tax and insurance are low. Sales tax is high, and there is income tax. Ongoing property costs are lower than many states.
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Old 07-31-2007, 06:15 AM
 
13,768 posts, read 38,197,572 times
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Birmingham area includes many areas. You can check the website of the tax collector in Jefferson county to get a general idea of what the property taxes are for the area.
Each county is different in there tax rate.
Generally I have found the property tax to be lower than in FL but then there is a state income tax here.
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Old 07-31-2007, 09:20 PM
 
Location: North Alabama
1,562 posts, read 2,795,897 times
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I think Hoover's millage is 72.6 mills. State and county homestead exemptions should save you $53 in taxes. I get $5,392 for the $750,000 home, $10,837 for the $1,500,000 home. Go to http://www.revenue.alabama.gov/advalorem/MILLS05.pdf (broken link) for a listing of all Alabama counties' property tax rates. You'll need to know which county your luxurious lakefront home is located in to get a good answer to your last query.
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Old 08-01-2007, 12:16 PM
 
24,550 posts, read 10,869,900 times
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Looking at some of your other posts - homework assignment or just bored?
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Old 11-29-2009, 05:07 AM
 
Location: Las Flores, Orange County, CA
26,329 posts, read 93,761,592 times
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Lawsuit could increase property taxes ninefold | GadsdenTimes.com | Gadsden Times | Gadsden, AL
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Old 11-29-2009, 05:53 AM
 
24,550 posts, read 10,869,900 times
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A great answer to some of the constant "biased" posts.
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Old 11-29-2009, 08:20 AM
 
23,600 posts, read 70,412,676 times
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Charles, if that lawsuit you cited was to prevail, it would effectively crush any lead that Alabama might have in luring business to the state, displace thousands of seniors, and be about one of the worst things that could happen to low-income blacks. Seriously, if there was a 900% property tax increase (or even much less) I would be out of the state in a flash. If I wanted to pay that much property tax, I'd move to New Hampshire, where there is no sales tax.
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