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Old 12-10-2018, 03:36 PM
 
Location: Coastal Northeast
15,894 posts, read 22,203,294 times
Reputation: 5335

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If the above post is suggesting the San Diego area doesnít have good schools, they might want to look again. Some of the best school districts in the country are in Southern California.

Iíll reiterate to proceed with caution when comparing massive state vs tiny state. Metro area vs metro area boosts accuracy.
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Old 12-10-2018, 04:39 PM
 
8,328 posts, read 4,263,440 times
Reputation: 1911
Not knocking New London

With a budget of $500K your dollars could go far in regards to property in neighboring towns

Neighboring towns have a much lower mill rate

https://www.zillow.com/homedetails/6...40592796_zpid/

About $8 grand in propert taxes

Last edited by RunD1987; 12-10-2018 at 04:42 PM.. Reason: ***
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Old 12-10-2018, 04:53 PM
 
58 posts, read 22,384 times
Reputation: 76
Quote:
Originally Posted by kidyankee764 View Post
I also relocated to VA from CT and have a lot more cash in my pocket monthly. I do miss some things about CT, but certainly not enough to move back. If the cost was more reasonable (and politics not so wacky), CT would be paradise.
I totally agree!
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Old 12-10-2018, 04:54 PM
 
58 posts, read 22,384 times
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Quote:
Originally Posted by markfromct View Post
My house in Manchester is assessed at 155k. I think the mill rate is 35.81. But the bottom line is my property tax is 6500/yr. Won't be staying here in our retirement.
That is unbelievable!
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Old 12-10-2018, 05:06 PM
 
58 posts, read 22,384 times
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Quote:
Originally Posted by CTartist View Post
San Diego median home value: $567,400
New London median home value: $184,281
Waterford median home value: $260,535
(info from City-Data)

San Diego.....3 bed/1 bath/1450 SF.....$600,000.......$3295 monthly (taxes 625 monthly)
https://www.realtor.com/realestatean...-46893?view=qv

New London.....5 bed/1-1/2 bath/2376 SF.......$200,000........$1406 monthly (taxes 502 monthly)
https://www.realtor.com/realestatean...-65180?view=qv

Waterford......4 bed/2 bath/1600 SF........$269,900........$1582 monthly (taxes 361 monthly)
https://www.realtor.com/realestatean...181257&view=qv


An average house (which looks to be bigger in CT) roughly costs $3295 in San Diego, $1406 in New London and $1582 in Waterford.

The area where you are looking at in CT has bargain basement prices in comparison to San Diego. You need to take the cost of the house as a whole when comparing apples to apples (median home in San Diego and median home in the New London area)

PS: Property taxes pay for the school system for the most part. 2018 School Ranking: Connecticut #2, MA #1. You get what you pay for.
https://wallethub.com/edu/states-wit...t-schools/5335
Those are good points. If one was to purchase a $300k house in CT vs $500 in San Diego, once may still come ahead in CT even with the higher taxes. Lets say one pays $500 more in taxes in CT per month; $500 x 12 = $6000. And lets say the person lives 20 yrs. in CT, that would be $120,000. In this scenario, the person would still come ahead by living in CT. I'd imagine the cost of living in most parts of CT is lower in CT then San Diego. So it's certainly worth looking at the numbers for someone who really likes CT.
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Old 12-10-2018, 05:14 PM
 
Location: Coastal Northeast
15,894 posts, read 22,203,294 times
Reputation: 5335
Quote:
Originally Posted by EmiSky View Post
Those are good points. If one was to purchase a $300k house in CT vs $500 in San Diego, once may still come ahead in CT even with the higher taxes. Lets say one pays $500 more in taxes in CT per month; $500 x 12 = $6000. And lets say the person lives 20 yrs. in CT, that would be $120,000. In this scenario, the person would still come ahead by living in CT. I'd imagine the cost of living in most parts of CT is lower in CT then San Diego. So it's certainly worth looking at the numbers for someone who really likes CT.
True. That said, a mortgage can be paid off. Property taxes can’t.

Overall, eastern CT will be far more affordable. We’re comparing the most affordable part of CT to one of the most expensive parts of CA.
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Old 12-10-2018, 06:06 PM
 
Location: Northern Fairfield Co.
2,676 posts, read 2,206,465 times
Reputation: 1171
I personally can’t believe that a regular house in a regular nice town (read: not a 8,000 sf house with a 4 car garage in a super exclusive town... ) would be anywhere near $20k in property taxes. heck one of my bosses lives in a house a couple hundred thousand dollars more than $1 million in Rye, NY, and his taxes are $18k. And Westchester County taxes are notoriously amongst the highest in the country
I live in a slightly nicer than “regular” house in a nice neighborhood in a regular Northern FFC town that is way more affordable than southern FFC and Westchester, but way less affordable than Eastern CT. And my RE taxes here are $8,900 this year.

Last edited by Lalalally; 12-10-2018 at 06:41 PM..
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Old 12-10-2018, 06:37 PM
 
16,781 posts, read 6,338,293 times
Reputation: 7119
OP, Before you buy study the ax trajectory of the property over an extended period of time. Do the same with your income-calculate your total cost of Ct ta, personal and property, by year, over an extended period of time.

I'd also recommend studying the towns total budget trajectory over an extended period of time.
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Old 12-10-2018, 10:03 PM
 
1,296 posts, read 973,725 times
Reputation: 1106
$20K is a super unlikely property tax burden in the majority of areas in CT, for a regular old house or even a nice house. I'm closely watching homes at the $500-$600 price point in a variety of towns and invariably, the taxes on those homes are in the $8-11k range.

You should definitely do the math across the board and be sure it's what you want to do. We have stayed in CT since the location aligns with most of our priorities and we can afford to have the life we want to have here, but if that wasn't the case we'd be on our way.
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Old 12-10-2018, 11:34 PM
 
1,777 posts, read 716,195 times
Reputation: 669
Quote:
Originally Posted by hvexpatinct View Post
$20K is a super unlikely property tax burden in the majority of areas in CT, for a regular old house or even a nice house. I'm closely watching homes at the $500-$600 price point in a variety of towns and invariably, the taxes on those homes are in the $8-11k range.

You should definitely do the math across the board and be sure it's what you want to do. We have stayed in CT since the location aligns with most of our priorities and we can afford to have the life we want to have here, but if that wasn't the case we'd be on our way.
Depends on the town. There are a few towns in CT with decent real estate value and high taxes in CT West Hartford for instance 500K gets you to close to 15K in property tax.
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