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Old 07-26-2012, 10:37 AM
 
40 posts, read 48,295 times
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Quote:
Originally Posted by cpg35223 View Post
When we moved to Birmingham, Alabama, we moved into a really nice suburb. Mountain Brook has a very high household income and one of the top twenty public school systems in the country according to some survey. The crime is almost non-existent, limited to the occasional public intoxication or someone's car getting vandalized. City services are very efficient and responsive.

Our house is 2,800 sf and sits on a 3/4-acre lot. We bought it on deal in 2006 from a contractor who was having money trouble and needed to sell immediately. $350,000.

When I got my property tax statement, I thought it was a misprint. $2700 a year, and that's the highest millage rate in Alabama. I have an uncle in Chicago who pays five times that for a house not much larger than mine and in a neighborhood not nearly as nice. It's crazy what people are willing to pay.

You would be paying at least twice that in property taxes in Cincinnati for a similar size house.
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Old 07-26-2012, 11:11 AM
 
28,905 posts, read 46,738,716 times
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Quote:
Originally Posted by meat123 View Post
You would be paying at least twice that in property taxes in Cincinnati for a similar size house.
Yeah. It was a pleasant surprise to us.
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Old 07-26-2012, 01:07 PM
 
Location: Up on the moon laughing down on you
18,509 posts, read 28,169,813 times
Reputation: 7598
Quote:
Originally Posted by KathrynAragon View Post
Yes, and aren't those in large metro areas? I mean, Texas has five of the largest cities in the US.
Yeah, they were in Austin I think. The Houston, Dallas, San Antonio ones were from the 100's and up.
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Old 07-26-2012, 01:21 PM
 
56,618 posts, read 80,930,134 times
Reputation: 12508
Quote:
Originally Posted by KathrynAragon View Post
Without researching it, I wouldn't know. But as your point probably is, mine is that you can't go by property tax alone when looking at living expenses, though you certainly need to factor them in!

Here's a cool site that compares cost of living in different areas. You put in your area and your income and then choose another area to compare it to.
Moderator cut: link removed, linking to competitor sites is not allowed
We are pretty much saying the same thing in slightly different ways. For instance, here is a home that could be viewed similarly as the home in Mountain Brook that cpg35223 mentioned, except that it is older and some things here or there: CNYHomes - Detailed House Listing Information for MLS#S272168

While the tax rate and tag are higher, the home price is much lower. It is in a school district that regularly graduates at a 90%+ clip and is one of the best in Upstate NY. So, when looking at the total housing price, you can still make out in spite of taxes(rates or total property tax price).

Exemptions for taxes is another aspect to consider too.

Here's another calculator that can be city/town specific: Moderator cut: link removed, linking to competitor sites is not allowed

Last edited by Yac; 08-02-2012 at 05:16 AM..
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Old 07-26-2012, 10:59 PM
 
Location: Michigan
4,571 posts, read 7,034,245 times
Reputation: 3599
Quote:
Originally Posted by cpg35223 View Post
When we moved to Birmingham, Alabama, we moved into a really nice suburb. Mountain Brook has a very high household income and one of the top twenty public school systems in the country according to some survey. The crime is almost non-existent, limited to the occasional public intoxication or someone's car getting vandalized. City services are very efficient and responsive.

Our house is 2,800 sf and sits on a 3/4-acre lot. We bought it on deal in 2006 from a contractor who was having money trouble and needed to sell immediately. $350,000.

When I got my property tax statement, I thought it was a misprint. $2700 a year, and that's the highest millage rate in Alabama. I have an uncle in Chicago who pays five times that for a house not much larger than mine and in a neighborhood not nearly as nice. It's crazy what people are willing to pay.
We pay $2400 (+$1200 in utilities) for a 1661 sf house valued at $40,000 in SE Michigan.

The taxes don't seem bad, but I feel like homes are way overpriced. In Michigan, homes are not sold at the same price that they're valued (which makes things complicated). Our last house was bought for $200,000 but it was only worth $100,000. It was a 2300 sf tri-level. Our taxes were about $3,000 a year. And that's on the lowest millage rate in Metro Detroit.

The most expensive homes in SE Michigan are valued at $750,000+ and pay $23,000+ in annual taxes. These are like 6,000+ sf homes with 2 acre lots being sold at $1 million dollars and above. They used to be more expensive before the market crash actually. However, these are also the same suburbs where the median income is above $200,000. So these people aren't exactly having their incomes sapped out of them. Does it make sense? I don't know. But I know I'm not paying the highest taxes.
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Old 07-26-2012, 11:14 PM
 
Location: The Old Dominion
774 posts, read 1,423,519 times
Reputation: 1172
Quote:
Originally Posted by sarichter View Post
I've recently read many threads about how awful some tax rates were. I think people forget the relative nature of such facts and figures. For anyone complaining about real estate tax anywhere in the country other than the northeast, please take a look at this wonderful little table.

Table: Who Pays America's Highest Property Taxes? - Forbes.com

Passaic County, my place of origin... and I can attest to how expensive it is to live there!
This has had me wondering a lot lately. I can't believe the property tax rates in places like Conn and R.I. I can't believe they're tolerated. It's like paying rent to live in your own home.


Quote:
Originally Posted by lammius View Post

In Virginia, the real estate tax was low, but sales tax was higher (and charged on food/clothing), gas tax was higher, had to pay state AND county property tax on cars, vehicle registration fees are high, and you had to pay for a state vehicle inspection (though it's not very expensive, still that's free in NJ). Do those nickels and dimes make up for the difference in real estate tax? Not sure, but probably not.
The property tax on cars is onerous and annoying, but it's a single tax. You pay your city/county and part of it does go to the state. However the local jurisdiction is the one which sets the rate and collects the tax. Vehicle registration and inspection fees are trivial.

What I do want to know is the gasoline tax. So I looked it up and Virginia ranks 40th and NJ is 48th. Both are too low imho! A fuel-consumption tax is one of the most justifiable taxes I can think of. It brings about tremendous benefits to society, the economy, and the planet. Instead we tax production more highly than consumption. Sorry for the digression.

State Gasoline Tax Rates, as of January 1, 2012 | Tax Foundation
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Old 07-27-2012, 03:37 PM
 
Location: Indianapolis
3,895 posts, read 4,570,063 times
Reputation: 957
theres a simple solution to high property taxes.
Move to Indiana 1% capped property taxes on your homes assessed value and low income taxes. Plus Indianapolis is the fastest growing city in the midwest and in the top 20 nationally.
Indiana also is the fastest growing state in the northeast quadrant of the US and is a magnet for young professionals immigrants.
Unemployment is also below the national average in Indiana and its no surprise Indiana has the nations most affordable real estate market and Indianapolis is ranked #1 in housing affordability.
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Old 07-27-2012, 03:45 PM
 
56,618 posts, read 80,930,134 times
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Here is a great website for viewing taxes by state: Taxes by State
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Old 07-27-2012, 07:34 PM
 
Location: IN
20,849 posts, read 35,958,846 times
Reputation: 13297
Quote:
Originally Posted by KathrynAragon View Post
Without researching it, I wouldn't know. But as your point probably is, mine is that you can't go by property tax alone when looking at living expenses, though you certainly need to factor them in!

Here's a cool site that compares cost of living in different areas. You put in your area and your income and then choose another area to compare it to.
Moderator cut: link removed, linking to competitor sites is not allowed
Cost of living is an important factor, but I wouldn't move to many places just because they are cheap. I look at a plethora of other categories including availability of jobs, educational attainment, climate, conservation lands, etc.

Last edited by Yac; 08-02-2012 at 05:36 AM..
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Old 07-27-2012, 07:48 PM
 
Location: The Old Dominion
774 posts, read 1,423,519 times
Reputation: 1172
Quote:
Originally Posted by GraniteStater View Post
I wouldn't move to many places just because they are cheap.
Neither would most people. In fact, the main reason they're cheap is that no one wants to live there.
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