U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Vermont
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-26-2010, 02:43 PM
 
1,135 posts, read 2,044,734 times
Reputation: 1486

Advertisements

It's all relative. If I still lived in NJ I'd pay $8,000 taxes on a 1,000-square-foot fixer-upper on a 50 by 100-foot lot. Glad I left in 2001 before things got worse than they had been.

Here we pay less tax on a home that's twice that size on 2 acres. Also, in Vermont if you are a primary resident and earn less than $90,000 your municipal property tax is capped at 2 percent of your income.

It's funny. I work in Stowe where there are more million-dollar homes than any other town in Vermont and the millionaire second home owners are always whining about their taxes. Well, I can't feel sorry for someone who can afford a million-dollar second home when so many working families here can't even afford a fixer-upper.
Reply With Quote Quick reply to this message

 
Old 12-26-2010, 03:23 PM
 
Location: Vermont
5,439 posts, read 14,743,656 times
Reputation: 2629
can anyone send me a link to something that explains the property tax limit?

NM found t his page here, that sort of explains
http://www.vermontrealestatetoday.co...tatetaxes.html
Reply With Quote Quick reply to this message
 
Old 12-26-2010, 03:31 PM
 
Location: Vermont
3,328 posts, read 8,764,751 times
Reputation: 1991
Real estate prices have dipped in Vermont in the second home market-thats why you're seeing lower prices in the "tourist" towns such as Woodstock, Quechee, Stratton etc.
As others have mentioned above, try branching out to what I call "normal" Vermont towns. Try Danby, Wallingford, Springfield, Woodford, Readsboro or Rockingham in Southern Vermont and I think you'll find much more reasonable real estate prices AND tax rates.
__________________
City Data Terms of Service:
http://www.city-data.com/forumtos.html
Reply With Quote Quick reply to this message
 
Old 12-27-2010, 03:27 PM
 
182 posts, read 366,044 times
Reputation: 93
Quote:
Originally Posted by Ulysses61 View Post
I am basing my statement that real estate prices has crashed in Vermont on the fact that home prices have fallen dramatically in the places I am looking at: southern Vermont, roughly from Brattleboro on up to Woodstock. Also Stratton Mountain.

In 2005, I came close to buying a second home in Stratton Mountain for $400,000. That exact same house is on the market now for $219,000. And home prices in Woodstock have fallen dramatically since 2004-05 as well.

It's just so sad that I love Vermont so much, but just refuse to pay property taxes up the yazoo.
The area I'm in in So VT has remained somewhat stable with no big drop outs on prices.

Vacation properties in areas such as Stratton and Ludlow seem to have taken a bigger hit as out-of-state owners are trying to unload them while the economy suffers.

Taxwise, VT is cheap compared to NY state.
Reply With Quote Quick reply to this message
 
Old 01-06-2011, 10:57 AM
 
400 posts, read 724,026 times
Reputation: 473
Quote:
Originally Posted by 4DogsImDone View Post
The area I'm in in So VT has remained somewhat stable with no big drop outs on prices.

Vacation properties in areas such as Stratton and Ludlow seem to have taken a bigger hit as out-of-state owners are trying to unload them while the economy suffers.

Taxwise, VT is cheap compared to NY state.
Is it? I don't know the total tax picture but whenever I looked at real estate listing for update NY houses their property taxes were about the same, maybe a little less. And of course a similar house seemed to sell for half as much. It has been awhile since I looked though.
Reply With Quote Quick reply to this message
 
Old 01-06-2011, 12:02 PM
 
Location: Inis Fada
16,802 posts, read 29,000,265 times
Reputation: 7378
Quote:
Originally Posted by j_jimerino View Post
Is it? I don't know the total tax picture but whenever I looked at real estate listing for update NY houses their property taxes were about the same, maybe a little less. And of course a similar house seemed to sell for half as much. It has been awhile since I looked though.
Perhaps it is relative to the area in NYS. Downstate taxes are high.

I live on LI. The house I own is set on 13 acres in Chester, VT with taxes $4600 a year. The same house here would be around $10K on a 60X100 lot. Pricewise, the VT house is currently worth a little under $200K. On LI, in a comparable area, it would be worth approx. $300K- $325K

School taxes make up a substantial portion of both tax bills.
Reply With Quote Quick reply to this message
 
Old 01-06-2011, 02:02 PM
 
20 posts, read 91,179 times
Reputation: 27
Is there a tax 'break' for agricultural property in Vermont? If part of your land is used to grow something edible or marketable, do you get taxed at a lower rate?
Reply With Quote Quick reply to this message
 
Old 01-06-2011, 04:23 PM
 
Location: Winter Springs, FL
1,789 posts, read 4,056,514 times
Reputation: 925
I don't think people are arguing that Vermont taxes are the highest in the country or the northeast. The simple fact is that the tax to income ratio for the average person in Vermont is one of the highest in the country. My taxes in CT were much higher in CT, but I also made double the income of what I make now. It shouldn't be the price we complain about, It should be the portion of our incomes that go towards mortgages/rent and taxes.
Reply With Quote Quick reply to this message
 
Old 01-13-2011, 08:33 PM
 
24 posts, read 47,946 times
Reputation: 26
I could be wrong, just a thought....if the state of vermont catered more to out of staters coming in for career change, retirement, etc....and it was affordable and jobs were made more available...an awful lot of folks would migrate to vermont. then ironically, it wouldnt be the quaint vt that we all seem to adore and love to visit so much.

that said. it is my belief that if you want something badly enough, you ll find a way to make it happen...the OP was mentioning houses at prices from 350,000 to 400,000. that s quite high. you could find quite a few homes in and around Barre in the 200K range....if you were willing to live more modestly. God Bless you though, I couldnt afford a 400K home in my retirement....

my 2 cents also....
Reply With Quote Quick reply to this message
 
Old 01-13-2011, 10:26 PM
 
670 posts, read 904,688 times
Reputation: 891
Quote:
Originally Posted by 68vette View Post
I don't think people are arguing that Vermont taxes are the highest in the country or the northeast. The simple fact is that the tax to income ratio for the average person in Vermont is one of the highest in the country. My taxes in CT were much higher in CT, but I also made double the income of what I make now. It shouldn't be the price we complain about, It should be the portion of our incomes that go towards mortgages/rent and taxes.
Could not agree more with this post. You hit it on the head.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Vermont
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top