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I would think that homeowners insurance on a $175,000 home would be more like $500 or $600.
That will be a nice change, it has gotten out of control here. When we purchased the house 6 years ago we were paying about $1100 or $1200 a year for hazard, and around $450 for flood. It has gone as high as $3500 for the hazard, although it's down to about $3100 this year, and the flood is a little over $800.
You are bouncing between Wealth and Income. Two different things. There are very few rich people that I know that sit around waiting to see what Oprah will say next. They are working hard everyday earning their money. Protecting your nest egg takes work and the returns do not just appear every year.
I thought free speach, open elections, and the right to bear arms kept us from a Feudal System? It's not the rich coming after my money, it's the Government!
Table 6: Distribution of income in the United States, 2003
IncomeTop 1 percent 17.0%
Next 19 percent 40.8%
Bottom 80 percent 42.2%
From Wolff (2007).
Wealth and income are different, yet very related. The progressive tax system is constantly criticized as be a form of "wealth redistribution." Wealthy people tend to have more income, hence their wealth. You can not have a conversation about income without including wealth. That was the main point about my post - that your are leaving out a huge part of the equation, making things seem different than they are.
The vehicle property tax is too high in SC, imho, at least at the high end - I don't mind paying $75/year for my car. However, road repairs have to paid for somehow, and any tax reduction on vehicle property tax will have to come from somewhere else in the budget, whether it be elimination of waste (the definition of "waste" is a whole other can of worms) or raising taxes elsewhere.
We will clearly never agree on the role of government, and we are hijacking this thread. So, I'm out.
The problem is that taxes like this are not just making the wealthy pay more.........it is making the middle class pay more too! I just do not see the fairness in making the person with the new car pay hundreds of dollars in taxes just because they have a new car......seems to me that they are trying to make up for the lost revenue that they can not charge the poor person with the old car. All this does is penalize the person and send the message that they should not have purchased a new car.
What really get's me is that after working years and acquiring these things (paying property taxes and hundreds of dollars in vehicle tax every year to SC) and found myself laid off where was all of this tax money when I needed financial help? It was nowhere! I had to depend on money coming from another state (NYC) just to keep my bills paid.
Nothing from nothing leaves nothing........supposed to put something into the system through years of work in order to get something out......at least this is the way it is supposed to be.
I also moved from MI, and was pleased to find that my insurance was much cheaper here than in MI. In the end, it is probably a wash.
Mine too. For someone in their 20s it was a nice change. Plus I'm with the same company and so they give me discounts every premium too. I pay less than most my age and have full coverage.
For now, I really am doing good, I was just set back that they charge for the plate. In MI you pay like what? $50 for the plate and it's yours forever. And I have no car payment so that helps.
if someone gives you a vehicle do you still have to pay property tax on it? I have a friend who has to leave the country, and I can't afford to buy his vehicle from him but he might just give it to me if he cannot find someone to sell it to. I know I wouldn't be able to afford the property tax on this vehicle because it is only 5 years old and low miles. any help would be appreciated.
I would think that you have to pay the property tax on it no matter how you got it. It is a yearly thing, and they didn't ask me where I got my vehicle.
if someone gives you a vehicle do you still have to pay property tax on it? I have a friend who has to leave the country, and I can't afford to buy his vehicle from him but he might just give it to me if he cannot find someone to sell it to. I know I wouldn't be able to afford the property tax on this vehicle because it is only 5 years old and low miles. any help would be appreciated.
The property tax is based on the value of the vehicle and not what you pay for it. This means you will pay tax on it, even if it is a gift, based on its value and not what you paid for it. I do not know how the state values the vehicle, but I assume they have somethink similar to Kelly Blue Book Values. Of course, if your friend gives you the car, you could always sell it (and if you feel guilty, send him half the money).
The property tax is based on the value of the vehicle and not what you pay for it. This means you will pay tax on it, even if it is a gift, based on its value and not what you paid for it. I do not know how the state values the vehicle, but I assume they have somethink similar to Kelly Blue Book Values. Of course, if your friend gives you the car, you could always sell it (and if you feel guilty, send him half the money).
yeah, its going to be too expensive, I already know that, lol. I assumed as much I just thought maybe there was a loophole and I could get around paying it for this year or something. I probably will end up selling it even though i'd rather keep it, if anyone's in the market for a sportscar pm me
I am from Georgia, and that state eliminated the ad valorem tax. Which is the same as the vehicle taxes! We pay only for our tags! I have been paying $20 each year on a 2014! I think the vehicle taxes should be stopped! I am really debating about moving to South Carolina because I think the taxes ARE UNFAIR! If Georgia can do without charging the taxes, South Carolina can too! You are already making a monthly car payment of $400 or $500 and then have to pay high taxes if your car is fairly new? To me, this is totally unfair. Congressman and county officials should stop these taxes for the people! To me this is an injustice! I was born and educated in South Carolina! I am ready to not move here and just move back to Georgia and inform everyone there about these vehicle taxes!
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