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Old 07-19-2015, 10:53 AM
 
Location: Sneads Ferry, NC
13,383 posts, read 27,153,969 times
Reputation: 6997

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I am a retiree and I have been looking at condos in Bucks County. I am horrified by the property taxes. One place in a beautiful senior community in Bensalem sells for about $220,000 but the property tax is about $4200. I know there is a senior rebate program, but I would only get $250-350 off the taxes which is very little help. Is there a homestead exemption I am missing?

Any insight? Am I better off in another county or in Philadelphia? I would consider $1800-2000 reasonable taxes on a condo worth $150K to $225K.

Last edited by goldenage1; 07-19-2015 at 11:07 AM..
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Old 07-19-2015, 01:05 PM
 
10,787 posts, read 8,797,044 times
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Quote:
Originally Posted by goldenage1 View Post
I am a retiree and I have been looking at condos in Bucks County. I am horrified by the property taxes. One place in a beautiful senior community in Bensalem sells for about $220,000 but the property tax is about $4200. I know there is a senior rebate program, but I would only get $250-350 off the taxes which is very little help. Is there a homestead exemption I am missing?

Any insight? Am I better off in another county or in Philadelphia? I would consider $1800-2000 reasonable taxes on a condo worth $150K to $225K.
I answered your question about the Phila. homestead exemption in the other thread. You won't be paying any city wage tax. The only other thing I can think of, which may not be an issue, is the sales tax is 8% in the city and 6% in the 'burbs.

I live in a condo near Center City(Phila.'s downtown). I never considered 55+ communities. Just not for me.
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Old 07-19-2015, 04:11 PM
 
Location: Sneads Ferry, NC
13,383 posts, read 27,153,969 times
Reputation: 6997
Quote:
Originally Posted by kyb01 View Post
I live in a condo near Center City(Phila.'s downtown). I never considered 55+ communities. Just not for me.
Thanks.

I found a propertytax101.com website, and most of the suburban counties around Philadelphia have similar tax rates. If I have to pay $4000/year taxes in addition to condo fees, then a condo is just not affordable on Social Security income.

The rural counties are more affordable, but I was really hoping for urban amenities in a safe location. I'll explore Philadelphia a bit more.
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Old 07-19-2015, 05:01 PM
 
Location: The place where the road & the sky collide
23,816 posts, read 34,774,970 times
Reputation: 10256
Quote:
Originally Posted by goldenage1 View Post
Thanks.

I found a propertytax101.com website, and most of the suburban counties around Philadelphia have similar tax rates. If I have to pay $4000/year taxes in addition to condo fees, then a condo is just not affordable on Social Security income.

The rural counties are more affordable, but I was really hoping for urban amenities in a safe location. I'll explore Philadelphia a bit more.
Are you also looking in Delaware?
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Old 07-19-2015, 06:03 PM
 
Location: Sneads Ferry, NC
13,383 posts, read 27,153,969 times
Reputation: 6997
Quote:
Originally Posted by southbound_295 View Post
Are you also looking in Delaware?
Yes. Delaware is more affordable but not very interesting.
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Old 07-19-2015, 10:08 PM
 
Location: The place where the road & the sky collide
23,816 posts, read 34,774,970 times
Reputation: 10256
Quote:
Originally Posted by goldenage1 View Post
Yes. Delaware is more affordable but not very interesting.
Don't forget Amtrak.
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