Why is TN property tax so high? (Kingsport, Cookeville: credit, houses)

[goodbyehollywood]

Originally Posted by knoxgarden

Also figure in things like insurance (both car and home owner), cost of electricity (lots of cheap hydroelectric power in Tennessee); car registration.

My insurance is about the same as it was in L.A., figuring homeowners on a CPF basis. Auto is about $20 per year less for the exact same coverage on the exact same car. Health insurance is more expensive in TN. All pretty shocking, since CA is considered such a high tax state.

I think utilities and water are outrageously expensive in TN, and it seems like they go up more every month. It was much cheaper in CA, again looking at it on a CPF basis. Everybody I know comments on how high the gas, electric and water bills are in East TN, and they're billed separately, so you pay a base on each. East TN used to be low utils, because of TVA, but no more. It may be cheaper, depending on where you're coming from, but I wouldn't bank on it. I was shocked last winter, and I've been just as shocked this summer.

Anybody looking to buy-- I'd certainly ask to see the actual utility bills and not just take the sellers' word for it. I've been paying more than double what my sellers quoted-- and that's keeping the house a lot less comfortable than I would like!

[twinkletoes38372]

Try living in FL or NY or CA. Now there are taxes to cringe about.

[tnmike]

You are forgetting an important point on TN property taxes---the "rate" , say $2.78, is per $100 of assessed value, so you have to take your $100,000 assessed vaue, take 25%, or $25,000, divide by 100, to get 250, times the tax rate of 2.78, to get a property tax of $695.
Mike

[JMT]

Originally Posted by tnmike

You are forgetting an important point on TN property taxes---the "rate" , say $2.78, is per $100 of assessed value, so you have to take your $100,000 assessed vaue, take 25%, or $25,000, divide by 100, to get 250, times the tax rate of 2.78, to get a property tax of $695.
Mike

I had friends from Utah who were just convinced that their property tax rate was lower than ours until I reminded them that in Tennessee, property taxes are assessed on only 25% of the value of the home. In Utah it's assessed on 55% of the value of the home. No matter how you slice it, that's a big difference.

[mrradio]

My house in NY had taxes of $12,500 a year when I sold it in 2000 and the taxes were going up 8-11% a year. Here in TN I pay $1,100 for a better house on more land.

Enough said.

[JMT]

Originally Posted by mrradio

My house in NY had taxes of $12,500 a year when I sold it in 2000 and the taxes were going up 8-11% a year. Here in TN I pay $1,100 for a better house on more land.

Enough said.

I cannot imagine paying $12,500/year in property taxes!!!

Aren't you now in the Cookeville area? Were you at the ice cream festival in downtown Cookeville last weekend? I meant to go but competely forgot about it (even though I was in Cookeville last weekend).

[northcountrygirl]

"Take Kingsport, TN for example, Sullivan county tax is 2.53% and Kingsport city tax is 2.26% for a total of 4.79% x $25,000 = $1197.50. That is alot of tax, almost $1200 in taxes on a $100,000 house."

That same $100,000 house would cost you $3500 in taxes in New Hampshire. I know because that's what I pay, so Kingsport TN is still a lot less expensive than NH and I live in a rural area. The tax rate in larger areas or cities is much higher.

[JMT]

Originally Posted by northcountrygirl

"Take Kingsport, TN for example, Sullivan county tax is 2.53% and Kingsport city tax is 2.26% for a total of 4.79% x $25,000 = $1197.50. That is alot of tax, almost $1200 in taxes on a $100,000 house."

That same $100,000 house would cost you $3500 in taxes in New Hampshire. I know because that's what I pay, so Kingsport TN is still a lot less expensive than NH and I live in a rural area. The tax rate in larger areas or cities is much higher.

That's exactly right. In addition, Tennessee's property taxes also pay for our schools. In many other places, there's a property tax as well as an additional school tax.

[Tony1790]

Originally Posted by northcountrygirl

"Take Kingsport, TN for example, Sullivan county tax is 2.53% and Kingsport city tax is 2.26% for a total of 4.79% x $25,000 = $1197.50. That is alot of tax, almost $1200 in taxes on a $100,000 house."

That same $100,000 house would cost you $3500 in taxes in New Hampshire. I know because that's what I pay, so Kingsport TN is still a lot less expensive than NH and I live in a rural area. The tax rate in larger areas or cities is much higher.

It's been a long time since I started this thread, but that $1200 on a $100k is very expensive when compared to WA state. WA state does not have an income tax either, one of my houses cost me $200k, I paid $1400 per year in tax. So the TN property is about double per $100k value as I was in WA state. Yes it's a bargain compared to the tax happy northeast, but my point of reference was the Northwest.

Oh well, different perspectives, TN has expensive taxes in my eyes, cheap in others, lets just hope that the NE taxaholics stay up there and don't bring the tax everything mentality with them.

Tony

[northcountrygirl]

Yeah! I hope so too! Because I'm moving to Tennesse in September. I can't imagine anyone leaving here and bringing outrageous tax practices with them!!!!!