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Old 03-18-2010, 12:32 PM
 
26,590 posts, read 54,607,588 times
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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 I was taught not to live beyond my means ; its an outdated philosophy nowadays but one which I have benefitted from greatly.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.
Not everyone who buys a $400K home has a $400K mortgage. When we bought our home we called the tax assessor and inquired as to how much the property taxes would be. We were told $4-6K. We almost fell over when we got our first tax bill for almost $10K.

We don't live where we do for "prestige" but rather because we like the neighborhood and the homes suits us.

We don't mind paying our share, but we have a real problem with the way that the tax structure is set up in Florida whereby some people are paying a mere fraction of their share while others are paying a disproportionately large amount of it. My neighbor two houses away has a house worth $100K more than mine (they have a pool and 400 s/f more than we do) yet they pay about 65% less in taxes a year for a home three years older than ours is. Tell me how that is fair?
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Old 03-18-2010, 12:37 PM
 
17,297 posts, read 25,706,613 times
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Originally Posted by annerk View Post
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."
If you live in a 500k house, your taxes probably approach 8-9k/year. You could have bought a nice home in cash though, no? For half as much? Especially these days!

I don't understand the logic of moving somewhere else though --- you move somewhere with lower property taxes, you'll find more expensive home prices, and most likely an income tax to make up the difference. Places with lower home prices (Texas) have even HIGHER property tax rates.

As a rough guide, in CA, for example, figure taxes are 1% of home price (but home prices are ridiculous). In FL, it's 2% on average (where homes can be found for an absolute bargain right now), and in TX, it's about 3% (where prices are generally lower).

Unless it's somewhere like Tennesee.... but....um, that's definitely NOT for everyone!


For what it's worth, the property taxes I paid last year helped me get quite a bit back this year on my federal income taxes, reducing my tax burden by quite a bit when all things are considered.
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Old 03-18-2010, 12:47 PM
 
26,590 posts, read 54,607,588 times
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Quote:
Originally Posted by TriMT7 View Post
If you live in a 500k house, your taxes probably approach 8-9k/year. You could have bought a nice home in cash though, no? For half as much? Especially these days!
Having a mortgage or not isn't any part of the tax equasion. It's not like my taxes would be lower if I didn't have a mortgage, so I'm not sure what your logic is.

Quote:
I don't understand the logic of moving somewhere else though --- you move somewhere with lower property taxes, you'll find more expensive home prices, and most likely an income tax to make up the difference. Places with lower home prices (Texas) have even HIGHER property tax rates.
We will probably downsize into a state with lower taxes and it might be CA if it hasn't fallen into the Pacific by then, and when you have no income (once we are retired) then income taxes won't matter much, will they?
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Old 03-18-2010, 08:03 PM
 
2,996 posts, read 4,920,462 times
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Quote:
Originally Posted by annerk View Post
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."
Maybe you should learn how to shoot a shotgun, then you could move to the woods and have squirrel for dinner like alot of us . You wouldnt have to play keeping up with the Jones' , having a fancy hood ornament on your car, and trying to keep greener grass than your next door neighbor . Life is simple out in the woods...and youd have alot of money leftover to play bingo on a friday night too. Trade in your Mercedes that you cant afford anyway, and git yourself a 4 wheel Pickup ... youll make nicer friends too out in the back woods --- nobodys got Gucci handbags nor cares to own one . 'Loaded' out here in the woods means having too many baked beans for dinner . You were getting sick and tired of trying to impress others with your Crown Molding anyways.
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Old 03-18-2010, 09:23 PM
 
15,199 posts, read 31,159,793 times
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Quote:
Originally Posted by 007.5 View Post
maybe you should learn how to shoot a shotgun, then you could move to the woods and have squirrel for dinner like alot of us . You wouldnt have to play keeping up with the jones' , having a fancy hood ornament on your car, and trying to keep greener grass than your next door neighbor . Life is simple out in the woods...and youd have alot of money leftover to play bingo on a friday night too. Trade in your mercedes that you cant afford anyway, and git yourself a 4 wheel pickup ... Youll make nicer friends too out in the back woods --- nobodys got gucci handbags nor cares to own one . 'loaded' out here in the woods means having too many baked beans for dinner . You were getting sick and tired of trying to impress others with your crown molding anyways.
lol! ^^^^
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Old 03-18-2010, 09:28 PM
 
26,590 posts, read 54,607,588 times
Reputation: 13019
Quote:
Originally Posted by 007.5 View Post
Maybe you should learn how to shoot a shotgun, then you could move to the woods and have squirrel for dinner like alot of us . You wouldnt have to play keeping up with the Jones' , having a fancy hood ornament on your car, and trying to keep greener grass than your next door neighbor . Life is simple out in the woods...and youd have alot of money leftover to play bingo on a friday night too. Trade in your Mercedes that you cant afford anyway, and git yourself a 4 wheel Pickup ... youll make nicer friends too out in the back woods --- nobodys got Gucci handbags nor cares to own one . 'Loaded' out here in the woods means having too many baked beans for dinner . You were getting sick and tired of trying to impress others with your Crown Molding anyways.
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Old 03-19-2010, 08:44 AM
 
1,468 posts, read 4,167,600 times
Reputation: 1071
Quote:
Originally Posted by 007.5 View Post
Maybe you should learn how to shoot a shotgun, then you could move to the woods and have squirrel for dinner like alot of us . You wouldnt have to play keeping up with the Jones' , having a fancy hood ornament on your car, and trying to keep greener grass than your next door neighbor . Life is simple out in the woods...and youd have alot of money leftover to play bingo on a friday night too. Trade in your Mercedes that you cant afford anyway, and git yourself a 4 wheel Pickup ... youll make nicer friends too out in the back woods --- nobodys got Gucci handbags nor cares to own one . 'Loaded' out here in the woods means having too many baked beans for dinner . You were getting sick and tired of trying to impress others with your Crown Molding anyways.
I am not sure if you are categorizing anyone with nice stuff as phonies or it is sour grapes or you resent someone being successful and enjoying the fruits of their hard work. I don't get your post at all. In the same respect, living in a trailer or on a small farm or driving an old pick up truck does not necessarily mean you are poor. I used to travel in my RV and always was running into some guy in a gas station sitting in his bib overalls BS'ing with a bunch of guys looking like he doesn't have a pot to pi$$ in who owns a 1000 acres of tobacco down the road. You can't judge people by the way they look and people have different priorities and that may even be they feel the need to show off for what ever reason. So be it if it makes them feel good. Many people may even have jobs that require a certain image even if it may be somewhat put-on. Why the constant need to judge people?

People who are big spenders spread the wealth around and make for a lively economy. One of the problems with Florida is the wealth that just stays in the bank. Retires come to Florida and don't spend a cent beyond the purchase of their condo if they can help it. They use political influence to try to shape Florida to their narrow minded wants needs with no regard for younger families trying to just get by. I remember when I owned a pool room and bar I had a bunch of old guys coming in the day time and they wanted a special price. I didn't really care so I set up a system so they could play all day and hang out for a small price. It took no time at all before they are complaining about the music, they didn't like the younger players having a good time, they never tipped the bartender as they drank up my free coffee I provided for the pool players.

It came to a head when a few of them came in on a Saturday night and when they came up to pay didn't want to pay the bill, they told the girl they got special rates, mean time there is a waiting list for tables as they want to play for pretty much nothing all night. I get a call at home asking what this is all about from the barmaid. I told her to just charge them what they thought the owed. The next day I ended the special deals and they never came in again. After all I did for them I find out I was nothing more to them then a sucker they judged by what they could get out of me for nothing. I honestly have little use for the retirees and old people here who have turned Florida into dead issue for the working class. I guess I got a little off subject but it is the truth.
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Old 03-19-2010, 08:50 AM
 
Location: Miami
6,853 posts, read 19,810,090 times
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Lets stay on topic, the OP asked why taxes in Florida are so high?
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Old 03-19-2010, 09:40 AM
 
Location: SE Florida
1,194 posts, read 3,690,428 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?............
I can say we dislike the cold so we were driven to seek a warmer climate when I turned 50. Consequently I retired before age 55 built a home in Florida where we currently live....We love it in Florida and regardless of taxes, we have no plans on moving out of our 3,500 home.

Comparison:
My 2 brothers live in Virginia. One brother has a single 3/2 home recently appraised at 1.4 million. WOW! 2 story 1,600 SF home in what he calls a nice area. My brother pays $7,800 in RE taxes and 1/3 the amount as we pay on his home owners insurance. I consider his home just so-so.

I payed $6,200 in RE taxes and we paid $410K to have our home built 4 years ago. Now our home is $225k and we are paying $7,600 in RE taxes for a water front home but we do not care what our home is worth because it is the quality of life we are enjoying.

Since our move to Florida we can say the taxes in Florida have not been higher than other states but it depens on where someone once lives, what type of community utilities are place on the tax rolls and the cost the county places on a "mill" which homes base their taxes on each community.

Since our Florida home is based on XYZ mills and our appraiser gave us a very low value on our Florida home we will not lower our home insurance.
Try to find a builder that will dupicate a home the same as ours is impossible.
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Old 03-19-2010, 10:41 AM
 
Location: Niceville, FL
7,685 posts, read 16,109,576 times
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We pay about $1200/year on a house that would sell for around $225K. Which seems pretty low to me. My parents Up North pay about $4K a year on a house they'd be happy to get $200K for on the open market.
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