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I'm surprised more people don't move to Idaho for that reason alone. I know people paying THOUSANDS a month in property taxes! Most paying at least HUNDREDS. For the rest of their lives!
It's nice to know if we move to ID, we can really own a home. That is, not pay taxes at all! But then again, we have to deal with the nation's worst nuclear radiation
I'm surprised more people don't move to Idaho for that reason alone. I know people paying THOUSANDS a month in property taxes! Most paying at least HUNDREDS. For the rest of their lives!
It's nice to know if we move to ID, we can really own a home. That is, not pay taxes at all! But then again, we have to deal with the nation's worst nuclear radiation
You realize ID has sales tax, right? Even on food. And state income tax, if you have income other than SS and certain retirement income?
Also:
"No matter where you live in the U.S., if you own real estate you'll have to pay property taxes."
And, WA has the most contaminated nuclear site in the country:
"The Hanford facility is considered the most contaminated nuclear site in the nation. It is also the oldest in the world, with plutonium from the site used to make the atom bomb detonated over Nagasaki, Japan, in World War II. It borders the Columbia River
And, WA has the most contaminated nuclear site in the country:
"The Hanford facility is considered the most contaminated nuclear site in the nation. It is also the oldest in the world, with plutonium from the site used to make the atom bomb detonated over Nagasaki, Japan, in World War II. It borders the Columbia River
And who lives in a house that costs more than $150,000? Or even $80,000 for that matter.
So Idaho IS a State where we would not have to pay tax on our real estate
Are you sure the Hanford Facility has more nuclear radiation than the entire State of Idaho? Or all the other States?
No, but tax on food still involves money you don't get to keep. Same for state income tax. Tax is tax, whether it happens on the employer payroll level or you have to mail a check. Americans' greatest general accounting weakness is not realizing that all the employer taxes are really costing them, since those costs are all associated with the cost of having employees. Health insurance, FUTA, SUTA, L&I, employer portion SS/Medicare--that's all money that isn't available to pay you because it gets paid as tax to have you on payroll. Unless one has done payroll, one probably doesn't know. Americans think they are at least taxed less than the rest of the developed world. They are taxed a lot more than they think; the difference is that in the rest of the developed world, people get something for their tax money. The shell game fools them every time.
I live in a house in Boise that cost about $190,000. And I could easily have spent more; this isn't an extravagant place. Had I told my real estate agent to show me only houses for less than $80K, she would have either started showing me tarpaper shacks, or politely suggested I come back when I was serious.
On it, I pay about $1000/year with the Idaho homeowner's exemption. Otherwise it would be over $2000. That is property tax. You would have to pay tax on your real estate.
Having just moved from living near Hanford, I doubt Idaho has more radioactive hazards than eastern Washington. Although I'm not sure how that's relevant to Idaho life.
I hear a lot of people on the forums talking about paying hundreds a month in property taxes.
I thought Idaho was one of the 2 States in the USA that does not make you pay property taxes?
So which is it?
In Bonner County we pay 1% property tax to fund roads & bridges, fire district, school levy, etc.
So as other posters mentioned, there is an exemption for your home and up to 1 acre of land. This amount was $81k in 2013 (will be $84k for 2014). So if your home is assessed at $300k (each county in Idaho re-assesses every year for property tax purposes), then you'd pay 1% on $219k or $2190 for the year.
If you live in a city that has additional assessments, that's obviously on top of the county base tax rate. For example, Sandpoint has additional taxes for police, parks, streets, water/sewage, etc. I believe people in Sandpoint pay around 1.7%. I would defer to Boise area residents to inform on their specific cities' tax rates...but unincorporated county areas will always be less...
Plus, I don't think you are understanding how the exemption works. It isn't that you don't have to pay taxes on the first $81k on your home. That is the MAXIMUM exemption. It is 50% of the value of your home, UP TO $81k. So if your house is worth $80k, you pay taxes on 50% of that, or $40k. If your home is worth more than $81k x 2 or $162k, you cap out the exemption.
Idaho DEFINITELY does have property tax.
As for value, I live in a 2 bedroom townhouse and it cost about $135k. So it is pretty east to reach the $162k and cap out the exemption. With the exemption (which at my value is 50%), I pay about $1200 a year in property taxes.
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