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Old 01-05-2015, 07:51 AM
 
Location: The Triad (NC)
28,506 posts, read 62,217,072 times
Reputation: 32199

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Quote:
Originally Posted by Submariner View Post
Are you suggesting that SAT scores are linked to taxes?
I'm suggesting that statewide SAT and ACT scores are as close to an objective measure of
parental values toward and involvement in education and school performance as we'll ever have.

And... (the inevitable anecdotes of exception aside) I'm suggesting that the amount of MONEY
these adults of each state are willing to subject themselves to paying for the support of their schools
is as close to an objective measure of civic virtue as we'll ever have.

Correlate the several points... what do YOU get?
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Old 01-05-2015, 08:55 AM
 
Location: Tennessee
23,601 posts, read 17,589,896 times
Reputation: 27682
Quote:
Originally Posted by ss20ts View Post
Totally not true at all! My aunt and uncle owns second home on the beach. It was fairly inexpensive and their taxes are well over $10K a year. Not exactly pocket change especially since he's retiring next month. There are plenty of areas in SC where you can buy a decent house for under $100k. Not a mansion, but it's still a livable house.
Where is this "inexpensive house" with the $10k/year property taxes? I certainly doubt it's in SC. The house may be inexpensive relative to its area, but it's probably not inexpensive in absolute terms. If you are buying a house in NJ, you're probably quite well to do anyway, as the state is very well to do. That $800/month or so in property taxes isn't going to sting as bad on a good NJ income/wealth level as it would on a low SC income.
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Old 01-05-2015, 10:19 AM
 
Location: WA
5,396 posts, read 21,404,537 times
Reputation: 5903
Taxes do change...

Ten years ago I considered a very nice house in Texas but the property taxes were about 3.5% and the appraiser said there was no chance to negotiate in the next three years. I passed but since then there has been tax reform there and the taxes although not low are a little better.

Here in Washington my property taxes have gone up 25% in the past nine years, so what was a relatively low rate is now notably higher... worse there new state proposals that will push them up in the next two years.

Property taxes are a real trap in many places where local governments take on poorly planned services, projects, and employee benefits that grow over the years damaging the financial health of the citizens.
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Old 01-05-2015, 02:30 PM
 
Location: Near a river
16,042 posts, read 18,985,208 times
Reputation: 15649
Quote:
Originally Posted by cdelena View Post
Property taxes are a real trap in many places where local governments take on poorly planned services, projects, and employee benefits that grow over the years damaging the financial health of the citizens.
Yes. I have been accused of anti-schools and anti-libraries, which is absolutely not true. I am against poorly planned, overly extravagant facilities for both, esp when former buildings/land could have been used to great cost advantage. It's usually the wealthy folks in one end of town who cook up these schemes, oblivious to how these unnecessary costs are impacting retirees, the elderly, and those of modest income. It particularly galls when I see adjacent towns building similar new facilities for maybe 1/3 the cost of what my town is paying.
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Old 01-06-2015, 10:00 AM
 
Location: Maryland
282 posts, read 306,166 times
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Quote:
Originally Posted by luv4horses View Post
Many of us will need to consider property taxes when deciding if we should move during retirement. This map was really interesting to me so I thought I would share it.
Property taxes: How does your county compare? - CNNMoney.com
I have found at least one of the reasons the percentage rates in that article are inaccurate. The original study gathered data on home prices and taxes paid. Then they used the median home price and the median tax paid to generate a percentage. That is a statistical mistake, using the wrong statistic to come to a conclusion (percentage rate). Since property taxes are basically a fixed percent of value, they should have used the average, not the median. Or even better, get the real rates directly. The median is fine for comparing general housing costs, but not tax rates.
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Old 01-06-2015, 11:16 AM
 
6,274 posts, read 4,740,348 times
Reputation: 12882
Quote:
Originally Posted by Emigrations View Post
Where is this "inexpensive house" with the $10k/year property taxes? I certainly doubt it's in SC. The house may be inexpensive relative to its area, but it's probably not inexpensive in absolute terms. If you are buying a house in NJ, you're probably quite well to do anyway, as the state is very well to do. That $800/month or so in property taxes isn't going to sting as bad on a good NJ income/wealth level as it would on a low SC income.
Clearly you have not lived in an expensive area. Your assumptions are wrong.

First, where I live (Long Island, NY) there are plenty of dumpy little houses with $10k property taxes. The old Levittown neighborhoods would be an example of very modest houses with high taxes. Your assumption that high salaries make up for the costs is also incorrect. The cost of living in this area is about 1.7 times the national average. Salaries are about 1.3 times the national average. In addition taxes and deductions are progressive so the 1.3 is more likely to be about 1.2 in take home pay. Living in an expensive area is really difficult. The hustle of NY is no myth. We hustle and move quickly just to get by. Most of us need to leave when we retire.
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Old 01-08-2015, 08:14 AM
 
Location: Tennessee
23,601 posts, read 17,589,896 times
Reputation: 27682
Quote:
Originally Posted by jrkliny View Post
Clearly you have not lived in an expensive area. Your assumptions are wrong.

First, where I live (Long Island, NY) there are plenty of dumpy little houses with $10k property taxes. The old Levittown neighborhoods would be an example of very modest houses with high taxes. Your assumption that high salaries make up for the costs is also incorrect. The cost of living in this area is about 1.7 times the national average. Salaries are about 1.3 times the national average. In addition taxes and deductions are progressive so the 1.3 is more likely to be about 1.2 in take home pay. Living in an expensive area is really difficult. The hustle of NY is no myth. We hustle and move quickly just to get by. Most of us need to leave when we retire.
These high cost areas are where the best jobs in the country are found. These areas are where you find the most cutting edge people and innovation. NYC is on the cutting edge of finance, and is the largest market in the country. You're going to have a lot of everything there. There will be types of jobs in NYC that do not even exist in other fairly large metros (think you're going to find much in the way of international diplomacy here in Indianapolis?). Fields that are fairly esoteric are probably going to at least have some presence in NYC, Chicago, Boston, etc. Someone I went to high school with in rural TN went to a high-end art school and now has a high powered art director job in NYC. Think that job exists in rural TN, or even a big city like Nashville? Probably not.

The cost of living is going to be prohibitive to those on the low and possibly middle ends of the income chain. If you're working in fast food for $12/hr in NYC, you'd probably be better off in TN on $8/hr. For the best educated, best paid professionals, these people are still going to be flocking to places like NYC, Chi, Boston, etc.
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Old 01-09-2015, 12:01 AM
 
26,591 posts, read 52,323,935 times
Reputation: 20438
When I bought in Thurston County WA the price I paid just happened to be the assessed price.

18 months later the county decides my home has appreciated 80%... it was enough to change my future plans...

The increase came on the heels of Prop I-747 being tossed out by a judge and all h*ll broke loose.
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