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Old 03-17-2010, 05:14 AM
 
Location: Hernando County, FL
8,488 posts, read 17,938,707 times
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Quote:
Originally Posted by jarthouse View Post
I have a house worth $480,000 (low market) in Brooklyn and it's a dump... or close to it! My taxes are $1,800 per year... you might think that reasonable except that this reflects the the quasi-run down area where I live... much of Brooklyn is run down). Obviously, most housing costs are relative to the cost of living index where a person lives. The cost of living is high in Brooklyn and I don't think any house would go for less than $420,000, even in my area. I make $87,000 per year as a teacher, which is a higher salary percentage than most parts of the U.S. pay teachers, so at least I can afford a house here and it is easier to pay my $500 per month student loans. If I lived in Florida, I think I'd make under $30,000 and probably could not afford to buy a house at all.
Why would you think you would make under $30,000? Would you get out of teaching?

Even in my county which is semi-rural the average teacher salary is over $40,000. The Florida average is about $44,000-$45,000, it could be higher.

So lets take my county. You would be making about half but could also get a 3 bedroom 2 bath pool home on a 1/2 acre for $130,000, less than 33% of what you have now. The taxes would be less, it is not a run down area, it is not high crime.
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Old 03-17-2010, 10:44 AM
 
Location: Pittsburgh, PA
1,303 posts, read 2,669,811 times
Reputation: 1131
Quote:
Originally Posted by faithfulFrank View Post
Interesting. I agree that generally speaking the wages are much lower in Florida compared to NY.

My property taxes in NY are $6,000 per year. My property taxes for my Florida home are just under 2K......and after I become a full time resident, they will be around 1k. Now I know the houses are not similar, but still that is a big difference in property taxes.

Frank
I live in a suburb of Pittsburgh, and I own a home that is about 4500 SF and on over an acre of ground. I pay less than $5000 in real estate/school taxes. For the taxes I pay, my kids attend (ed) a renowned school district located in probably one of the lowest crime areas of the country. My property taxes support a topnotch hospital network (indirectly supplementing the tax-exempt status), a state-of-the art library, and a county park extending 100's of acres... all within 5 miles of my home. My property taxes have helped build new stadiums, arenas, and convention center that are considered among the best in the country. Our city/county pays our tradesman a prevailing wage for governmental work in our area.... allowing us to provide meaningful employment and a a livable wage for many of our citizens.

It does not always come down to how much you spend, but what you get for your money (taxes). I am getting a real return on my $5000 yearly taxes, will you?
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Old 03-17-2010, 11:24 AM
 
5,969 posts, read 7,744,623 times
Reputation: 1614
Quote:
Originally Posted by Retiredcoach View Post
I live in a suburb of Pittsburgh, and I own a home that is about 4500 SF and on over an acre of ground. I pay less than $5000 in real estate/school taxes. For the taxes I pay, my kids attend (ed) a renowned school district located in probably one of the lowest crime areas of the country. My property taxes support a topnotch hospital network (indirectly supplementing the tax-exempt status), a state-of-the art library, and a county park extending 100's of acres... all within 5 miles of my home. My property taxes have helped build new stadiums, arenas, and convention center that are considered among the best in the country. Our city/county pays our tradesman a prevailing wage for governmental work in our area.... allowing us to provide meaningful employment and a a livable wage for many of our citizens.

It does not always come down to how much you spend, but what you get for your money (taxes). I am getting a real return on my $5000 yearly taxes, will you?
Exactly. I feel the same way as an ex Florida resident. Plus the low wages, lack of good employment opportunities, and poor schools in Florida make the small savings in property taxes worthless.
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Old 03-17-2010, 03:31 PM
 
4,343 posts, read 6,056,653 times
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This is an old thread but I'll jump in anyway. Property taxes in Florida are not high. My prop taxes went down $1400 since we built back in 2005. We now pay less taxes than we did in Illinois back in 2000.
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Old 03-17-2010, 03:49 PM
 
15,194 posts, read 31,143,494 times
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Quote:
Originally Posted by verobeach View Post
This is an old thread but I'll jump in anyway. Property taxes in Florida are not high. My prop taxes went down $1400 since we built back in 2005. We now pay less taxes than we did in Illinois back in 2000.
Yeah, me too - we have low taxes, gone down two years in a row, a fantastic quality of life, and my husband has a great job with a nice salary working for the gov't., including a fully vested pension.
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Old 03-17-2010, 04:24 PM
 
4,343 posts, read 6,056,653 times
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I hear ya, gypsychic. Husband is a retired gov't employee. We couldn't live this cheaply anywhere else in the US, at least not in Illinois, Massachusetts or Virginia.

But this said, I think Florida prop taxes are calculated different from county to county. Our county was very honest (and generous) when it came to lowered assessments.
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Old 03-17-2010, 05:15 PM
 
Location: New Jersey
2,510 posts, read 3,272,943 times
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Quote:
Originally Posted by sunnygurl View Post
Sorry for the stupid question, but can someone explain to me why prop. taxes are so high there, and when they started getting so high? Was there a law passed within the last 10 years that drastically increased prop taxes???? I just don't understand how a 400k house in Florida could have a tax bill of 8-12k, depending on the county/locality. Has Florida always had high prop taxes in proportion to other populous states? Maybe I just wasn't aware of that............
High property taxes in Florida....you must be kidding.....you have no idea how low your taxes are in comparrison to other states. I'm from New Jersey and we have the dubious distinction of having the highest property taxes of all 50 states.....Florida is no where near that. If you wish to compare salaries Florida wages are lower but in reality statistics show that your property taxes represent 3.28% of your wages while in New Jersey property taxes represent 7.02% of wages. Its horrible up here....add in the fact that New Jersey was recently voted the worst "business climate" of all 50 states in 2009 and you have a real financial disaster going on up here compared to where you are. 8 to 12K is cheap up here.
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Old 03-17-2010, 07:14 PM
 
2,996 posts, read 4,918,703 times
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Quote:
Originally Posted by sunnygurl View Post
Sorry for the stupid question, but can someone explain to me why prop. taxes are so high there, and when they started getting so high? Was there a law passed within the last 10 years that drastically increased prop taxes???? I just don't understand how a 400k house in Florida could have a tax bill of 8-12k, depending on the county/locality. Has Florida always had high prop taxes in proportion to other populous states? Maybe I just wasn't aware of that............
If you have a 400 k dollar home, then they figure you can certainly afford to pay the 8-12 k. in property taxes. A far better way to go would not be to buy a 400 k. home if its going to stretch you so much. I was taught not to live beyond my means ; its an outdated philosophy nowadays but one which I have benefitted from greatly. Ive seen way too many families bury themselves in debt from the elaborate home, fancy cars, $400 suits and all the rest of it....why anyone puts themselves on a financial treadmill for prestige Ill never understand. My suggestion is to downsize...even though its not the american way, then if you loose your job or get a prolonged illness , you wont be financially devastated -- I know, its really a silly concept i have.
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Old 03-17-2010, 08:28 PM
 
15,194 posts, read 31,143,494 times
Reputation: 18364
Quote:
Originally Posted by 007.5 View Post
If you have a 400 k dollar home, then they figure you can certainly afford to pay the 8-12 k. in property taxes. A far better way to go would not be to buy a 400 k. home if its going to stretch you so much. I was taught not to live beyond my means ; its an outdated philosophy nowadays but one which I have benefitted from greatly. Ive seen way too many families bury themselves in debt from the elaborate home, fancy cars, $400 suits and all the rest of it....why anyone puts themselves on a financial treadmill for prestige Ill never understand. My suggestion is to downsize...even though its not the american way, then if you loose your job or get a prolonged illness , you wont be financially devastated -- I know, its really a silly concept i have.
Great post - well said, and I totally agree.
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Old 03-18-2010, 12:23 PM
 
26,590 posts, read 54,590,084 times
Reputation: 13019
Quote:
Originally Posted by gypsychic View Post
Sorry, but anyone living in a $500,000 house has no reason to be complaining about anything. Why not be grateful for what you have.
I disagree. I think it absurd and patently disgusting that I pay more taxes for my $500K home than someone living in a $1M home--simply because they've been there for 15 years. It's something that will most likely drive me out of this state when I retire, simply because I won't be able to afford the ridiculous and oppressive tax burden here.

And for the record, the only reason I have an "expensive" home is because I bought my last property at a low in the market and sold it at the peak of the market, which gave me a large d/p. I'll bet my mortgage is lower than yours--my taxes and insurance cost as much as my P&I! Not everyone in a house that costs over $200K is "loaded."
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