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Do these higher property tax states offer higher deductions as in homestead exemptions or senior exemptions? I am in Miami-Dade County and Homestead Exemption is on the first $25000 of declared value. There is another exemption for senior age retirees to lessen the tax burden on them.
I wouldn't want a palace myself, but I'd sure love a home that is around 3,000+ square feet in a beautiful and safe neighborhood with lots of amenities and great weather like we have now, no "special taxes" or what is referred to here often as Mello-Roos taxes.
I'd love for our forever home to be right here in the San Francisco Bay Area; however, we have so many "newly wealthy immigrants" buying our properties for cash around here that we can't compete for the nicest homes in the best neighborhoods unless we pay in cash, and I don't want to do that.
States that don't tax out-of-state government pensions are good for us, in addition to those that don't tax income at all, but property tax in those states is often very high and with no limit on their rise.
Unless I'm mistaken, Texas property taxes can go up more than our fixed amount here of a maximum 2% (ever since Prop. 13 was passed in 1978.)
Well, all I can tell you is that before moving, spend several weeks in a state, at various times of the year, and really research ALL your costs - not just property taxes. That's my point.
We were very attracted to the Ouachita Mountains, for instance, in Arkansas. Now - Arkansas seems like a very low cost of living area, and we could have bought a GORGEOUS brand new home (we actually had it picked out - about 3200 square feet, loaded with amenities, in a resort area) for about $300,000 and the property taxes would have been lower than our property taxes in Texas.
But when we put pen to paper (or rather, stylus to smart phone), we realized that we would actually be out of pocket more than $7000 more per year in Arkansas, because of the state income tax. It really surprised us.
Like I said, cost of living involves a LOT more than simply property taxes. And conversely, some people don't mind paying more overall for the benefits of living in a particular area. So we just have to weigh what's most important to us.
Do these higher property tax states offer higher deductions as in homestead exemptions or senior exemptions? I am in Miami-Dade County and Homestead Exemption is on the first $25000 of declared value. There is another exemption for senior age retirees to lessen the tax burden on them.
In our county in TX, the first $15,000 assessed value qualifies for homestead exemption. For 65 and older, another $10,000 is added, plus the school tax portion of the property taxes can't be increased once age 65 has been reached, unless major improvements are made to the property. The property tax portion, however, can be increased. In our area the school taxes are more than 3 times the property tax portion.
One thing that annoys me most about these lists is how random and incomplete they are. Connecticut is listed because we do pay high taxes to our towns but we do not have a county level of government so overall our taxes are a bit lower. I do not understand how New York is not on this list either. The taxes people pay on Long Island, Westchester and New York City are insane and that is where the bulk of people live in that state. I always take these stupid lists with a grain of salt since they are often overly simplistic and not well thought out. Jay
We live in Round Rock, an Austin suburb and we pay a small amount under $10k per year in property taxes for a $400sK house. Our property tax rate is considered on the lower side at 2.3%. And our house was actually appraised slightly lower than comps by the taxing authority (suffice to say, we didn't protest this year). So we are paying $800 or so per month just in property tax, and that's with a homestead exemption. When you factor in the actual mortgage and other monthly housing payments, the so-called "cheap" Texas house costs as much as many higher priced homes elsewhere. That's why I chuckle when I hear people remark how "cheap" Texas is. Sure, it's less expensive than California or some parts of the East Coast, but it is ever increasing and unless you put down at least 20%, your $300k house can easily be $2000-$2500 month.
That being said, I hated paying three tiers of taxation in NYC. I like no income tax better. make less but my paycheck is actually
Wildwood is uninhabitable? Tell that to the 1000's of tourists vacationing there as we speak...Asbury park is in the middle of regentrification, I still have high hopes for AC with the plans for the future that have recently been approved. I give you Camden and Trenton. No chemical spills or issues in south Jersey, yes we are still the "Garden State" down here.
I laughed over that, too.
Yeah, there's Camden. Asbury Park has some great restaurants and music venues, and is far from uninhabitable.
"Doizey." I do know how I talk, and it sure as hell isn't like that. I have never in my life heard a pronunciation even similar to that. If you're going to go with the stupid stereotypes, at least type "Joizey." But "DOIZEY"? What the hell is that?
And have you EVER in your life heard anyone from NJ actually pronounce the state "Joisey"? I've been here all my life, and my family has been in Bergen County since the 19th century. Don't know a soul who says it that way. It sounds like the old Bowery Boys movies or something.
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I have never in my life heard a pronunciation even similar to that. If you're going to go with the stupid stereotypes, at least type "Joizey." But "DOIZEY"? What the hell is that?
