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04-26-2008, 12:16 PM
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Junior Member
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Join Date: Apr 2008
6 posts, read 5,627 times
Reputation: 12
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Property taxes & Min. wage in Kentucky!!!! PLEASE HELP!!!
My husband and I are thinking of moving to Kentucky. What is the minimum wage there? We are looking for a property with a house in the country and has at least 60 acres of land near Lexington or Louisville for $350,000 or less. I found a perfect place in Harrodsburg but I'm sure there are others. Also the property taxes there kinda confuse me. Someone told me you multiply the rate by the prchase price per thousand. So that being said, do yo only pay that amount each year or does it go up?
Say the rate was .978 the purchase price is $250,000
The total would be roughly $2,500 that is per year, every year?
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04-26-2008, 07:23 PM
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Broker-Owner-Auctioneer
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Join Date: Aug 2006
Location: Oldham County Kentucky
3,001 posts, read 1,889,825 times
Reputation: 771
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With the purchase of such a property as you are discussing, how in the world does minimum wage play in your decision?
Yes on your tax calculation
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04-26-2008, 08:17 PM
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Junior Member
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Join Date: Apr 2008
6 posts, read 5,627 times
Reputation: 12
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We will have plenty of equity to put down on a home since we are leaving the Seattle area and moving to Kentucky will be downsizing! I am a real estate agent so minimum wage doesn't really play into our move, I was just curious!
Thanks for your help!
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04-27-2008, 06:51 AM
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Senior Member
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Join Date: Oct 2007
4,868 posts, read 2,271,376 times
Reputation: 5370
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babyspeaches---i sure wouldn't buy--real estate--from an agent who didn't know that property taxes are paid every year.
I believe property taxes are a yearly occurence even in Seattle where you state you sell real estate.
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04-27-2008, 08:27 PM
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Broker-Owner-Auctioneer
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Join Date: Aug 2006
Location: Oldham County Kentucky
3,001 posts, read 1,889,825 times
Reputation: 771
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Quote:
Originally Posted by babyspeaches
We will have plenty of equity to put down on a home since we are leaving the Seattle area and moving to Kentucky will be downsizing! I am a real estate agent so minimum wage doesn't really play into our move, I was just curious!
Thanks for your help!
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I didn't mean to downplay the value of your question, but was terribly curious. |
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04-27-2008, 08:58 PM
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Junior Member
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Join Date: Apr 2008
6 posts, read 5,627 times
Reputation: 12
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Man, I have never met such rude people on the internet. You should be ashamed of yourself marmac. Thanks for the positive reply tomocox!
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04-27-2008, 09:17 PM
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Member
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Join Date: Oct 2006
Location: KENTUCKY
21 posts, read 22,478 times
Reputation: 19
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Marmac.
I think you read what she wrote wrong. She just wanted to know if the taxes went up every year. (We all hope they don't)
Check out the different counties for the tax rates. Every one is different. These are hard times but this is a great State and mostly wonderful people.
Like you I was a Realtor, now retired.
Good luck. |
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04-28-2008, 11:07 PM
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Junior Member
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Join Date: Apr 2008
6 posts, read 5,627 times
Reputation: 12
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Good to know there are kind people in Kentucky cactusflower. I appreciate your support fellow realtor! I just got into the "bizz" a few months ago. Any words of advice?  |
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04-28-2008, 11:49 PM
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Moderator
Status:
"Happy Holidays!"
(set 3 days ago)
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Join Date: Feb 2008
Location: Columbia County, Wisconsin
3,538 posts, read 3,186,182 times
Reputation: 1291
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Wow those are some cheap property taxes! I wish we had them up here in Wisconsin. A 250,000 home around with property taxes is around $5-6K a yr.
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11-17-2009, 08:57 PM
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Junior Member
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Join Date: Nov 2009
Reputation: 10
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I am moving from Missouri to Kentucky next year. Currently my property taxes on a 170k home is $900.00 a year. Any idea how much the average property tax is in Hardin County on a 280k house?
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