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One house we looked at has a very tiny lot. It barely extended beyond the house. My agent called it a"zero lot line" house. Taxes $5600. House was in a community with a pool etc and HOA. Newer build but not brand new. In fact taxes are about this for every house in the community.
House downtown in historic city where taxes are higher due to a both county and city tax with a bigger lot and similarly sized house is $5000. Cheaper than the no lot house.
What is the difference here? Is it just that the planned community house is newer?
Ad valorem property taxes are based upon the tax assessment value and the millage rate. A cheaper house will have less taxes...unless the increase in the millage rate would exceed that difference.
Ad valorem property taxes are based upon the tax assessment value and the millage rate. A cheaper house will have less taxes...unless the increase in the millage rate would exceed that difference.
Again this is confusing.
Planned community house is 100k less than city house.
What is the taxation rate per $1000 of value there?
In most of the US it's right around 1% making $5600 an apprx $500,000 property
In some places the tax rate tops 3% making $5600 an apprx $170,000 property
(then you can get into the land vs structure and appraisal issues)
What is the taxation rate per $1000 of value there?
In most of the US it's right around 1% making $5600 an apprx $500,000 property
In some places the tax rate tops 3% making $5600 an apprx $170,000 property
(then you can get into the land vs structure and appraisal issues)
House one is a 340k property. House 2 is 440k. I'll look at the rate. Honestly I think this is just off.
House one is a 340k property. House 2 is 440k. I'll look at the rate. Honestly I think this is just off.
Where are you finding the listed taxes for these houses? MLS listing or county property search? If you're going off of the MLS listing, some areas don't have to list the taxes BEFORE any deductions. We've been looking in an area like that. I think it's like that so buyers don't get sticker shock. If you haven't done so yet, you should do a proper property search to determine what the actual annual taxes are and what, if any, deductions are being provided to the current property owners. Maybe property #1's owners have a home business and it's not owner-occupied. Maybe property #2 is owner occupied and they're older, thus qualifying for the deduction that many states offer to senior citizens. The easiest way to see the true taxes are a property search, and no, your realtor may not be obligated to provide the real total to you. A good one will, of course.
You need to look at the tax assessment value for each house (not the market value of each) and look at the tax rate for each. In some areas there are primary residence, senior or veteran discounts so that might be a factor.
There are also, here at least, school district taxes. So when you look at the auditor's website you will see a breakdown and one identical house over might be in school district A the next in school district B and the taxes might be even DOUBLE for the "good" school district house.
Tax search is from records. Not from any listing sites. County property tax records.
The school district is better in the city house with elementary and high schools that are in the top 1% state wide. The community house has a good school in the top 25% but not the highest rated. There is no separate school tax.
Could it be taxed at a higher rate because its in a planned community and newer build? I have looked at a few houses in this community and they all seem to be about 10% higher than taxes elsewhere. City and planned community house are in the same zip.
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