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Old 08-30-2013, 05:23 PM
 
Location: Central Maine
2,867 posts, read 2,966,992 times
Reputation: 3981

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Wanna get blown away? Look at property taxes in Springfield Vt. Yes, good old "Simpsonville" I looked at a house there and the taxes, on an average house with essentially no back yard and a small front yard were almost 3K. But, when we would purchase we were told that the taxes would increase to almost 4K because the actual land the house sat on belonged to a trust and would be conveyed upon new ownership. So the previous owners were paying almost 3K for JUST the house. Needless to say, we haven't looked in Springfield since.
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Old 08-30-2013, 05:26 PM
 
Location: Vermont
3,327 posts, read 8,754,181 times
Reputation: 1986
Quote:
Originally Posted by 68vette View Post
This is true, but how long can the state sustain this? I guess the family making more than 97K can pay higher taxes. The population is second oldest in the country, youth are moving to greener pastures and large employers with large incomes are laying off (IBM and Entergy are two recent ones with massive salaries. Entergy paid Vermont employees approximately $30,000,000. That loss to the state and local economy will hurt), the state cannot offer this benefit forever.
Very good point....you ever think of running for office?
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Old 08-30-2013, 05:37 PM
 
129 posts, read 188,119 times
Reputation: 195
Quote:
Originally Posted by vter View Post
A LOT of Vermonters don't pay the full property tax for their properties. If you make a combined $97k (or somewhere around there) income or less you pay less on your property taxes. Its all explained in the .pdf that AmILost posted. Great read.
My understanding is that the municipalities are reimbursed by the state treasury for the shortfall caused by residents who don't have to pay their full tax bill. Does anyone know if this is true? And, if so, I can only assume the money is ultimately generated by other taxes (probably the state income tax).
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Old 08-30-2013, 06:45 PM
 
Location: in a cabin overlooking the mountains
3,079 posts, read 3,700,322 times
Reputation: 2253
Quote:
Originally Posted by DauntlessDan View Post
Wanna get blown away? Look at property taxes in Springfield Vt. Yes, good old "Simpsonville" I looked at a house there and the taxes, on an average house with essentially no back yard and a small front yard were almost 3K. But, when we would purchase we were told that the taxes would increase to almost 4K because the actual land the house sat on belonged to a trust and would be conveyed upon new ownership. So the previous owners were paying almost 3K for JUST the house. Needless to say, we haven't looked in Springfield since.
Dan - read my post. Springfield is one of the towns that has the assessment bass-ackwards. Home values have gone down while the taxes are being assessed according to peak. If a homeowner really wants to sell their house, they have to pound on the listers and get them to reduce the assessment. It can be done.
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Old 08-30-2013, 07:23 PM
 
Location: Inis Fada
16,767 posts, read 28,940,663 times
Reputation: 7352
Quote:
Originally Posted by FrugalYankee View Post
Ask whether the sellers have "grieved" their assessment. What has happened in Windsor county is that many of the assessments were done in 2007, while actual selling prices have dropped to the values they had in 2002. The result is that the ratio of property tax to home value is totally out of whack.

I was successful in getting 2/3(!) of the assessment knocked off a house I have been trying to sell and it had about the same effect of a 2/3 reduction in property taxes. Now suddenly that property looks a whole lot more attractive.
I grieved my assessment immediately after the county reappraisal. I'm overdue to grieve again. Thanks for the reminder
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Old 08-31-2013, 04:16 AM
 
Location: Vermont
5,439 posts, read 14,723,227 times
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around here in the Mad River Valley from what I've been looking at, around $4000-$4500/year for an avg house that sells in the low-mid 200s, on 2-3 acres.
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Old 08-31-2013, 08:39 AM
 
43,012 posts, read 91,841,033 times
Reputation: 30369
Quote:
Originally Posted by mikeandaija2009 View Post
A single wide on 10 acres in Orange County taxes were almost $5k a year. Another was a bank foreclosure which needed a ton of work (too much work for the asking price IMO), on 14 acres with a barn. Property taxes were almost $8k a year!
Those taxes sound like a bargain to me for that acreage.
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Old 08-31-2013, 08:46 AM
 
Location: in a cabin overlooking the mountains
3,079 posts, read 3,700,322 times
Reputation: 2253
Really? I have 15 acres lovely wooded in NH (current use) with a nice 4BR 2 BA home and taxes are $5 k.
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Old 08-31-2013, 10:00 AM
 
43,012 posts, read 91,841,033 times
Reputation: 30369
Quote:
Originally Posted by FrugalYankee View Post
Really? I have 15 acres lovely wooded in NH (current use) with a nice 4BR 2 BA home and taxes are $5 k.
I wish I could! It's a beautiful region. Unfortunately, there's no work for my husband up there. Maybe when we retire.
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Old 08-31-2013, 12:01 PM
 
Location: Somewhere in northern Alabama
17,652 posts, read 53,729,740 times
Reputation: 29842
Quote:
Originally Posted by FrugalYankee View Post
Really? I have 15 acres lovely wooded in NH (current use) with a nice 4BR 2 BA home and taxes are $5 k.
Not even going to make you green with envy on our taxes on fifteen acres of mixed field and forest w/ year-round creek in rural Alabama. Just going to say we pay a LOT less in taxes and don't have as many seasonal pest issues w/ mosquitoes and tourists. As I've said before, this area is a lot like Vermont USED to be.
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