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Can anyone comment on thoughts of property taxes in the state? I don’t want this to spiral into a bad debate I am just curious. I was on a website yesterday looking at some configurations and it was interesting. Either way, they look much better than mine here! Lol
Oh, so glad you’re back. It’s not uncommon for people to post, answer a few and drift away.
I can just give you two quick examples of taxes — In Loudoun County, Virginia, two years ago our taxes on a $550k house (4,000 sf) were in the range of $5,500+ and going up. It was over an hour from DC. Now we have a $250k house (2,400 sf) and the taxes are $2,500 in a wonderful, close to everything neighborhood. Because of the Homestead Act for older, retired people, we get a nice tax break on that.
Last edited by LynchburgLover; 12-14-2019 at 01:52 PM..
Oh, so glad you’re back. It’s not uncommon for people to post, answer a few and drift away.
I can just give you two quick examples of taxes — In Loudoun County, Virginia, two years ago our taxes on a $550k house (4,000 sf) were in the range of $5,500 and going up. Now we have a $250k house (2,400 sf) and the taxes are $2,500. Because of the Homestead Act for older, retired people, we get a nice tax break on that.
Yes! Forgot to mention the Homestead Act; no need to be retired; you only need to be over 65 and it's a nice break. No taxes on the first $50,000 of fair market value of your house.
Don't know if you are aware that there is a personal property tax here; you do pay an annual tax on your vehicles. But overall, with taxes being so much lower as well as gas it is much less expensive to live here.
Yes! Forgot to mention the Homestead Act; no need to be retired; you only need to be over 65 and it's a nice break. No taxes on the first $50,000 of fair market value of your house.
Don't know if you are aware that there is a personal property tax here; you do pay an annual tax on your vehicles. But overall, with taxes being so much lower as well as gas it is much less expensive to live here.
Not sure about NJ, but Virginia had a personal property tax on top of high real estate taxes. Gas was higher there, too, but not as bad as Maryland & DC. Maryland taxes were insane. The house I grew up in (3,000 sf) has current taxes of about $13,000.
Can anyone comment on thoughts of property taxes in the state? I don’t want this to spiral into a bad debate I am just curious. I was on a website yesterday looking at some configurations and it was interesting. Either way, they look much better than mine here! Lol
Property taxes are calculated at 4% for owner occupied. It also depends if you live in the county or the city. If you live in the city, you have more taxes on top. Real estate taxes are not bad overall. We owned a house in Taylors that was valued at $130K (tax assessment) when we first purchased it. Our taxes were about $1200 year. They have some type of calculation they do to figure it out. Keep in mind, if your are out of city limits, you have to pay additional for trash. That usually costs around $240 more a year.
Also, some of the properties we looked at to buy were not owner occupied so the tax rate was higher. If you see a listing on line and the tax seems way high, that is probably why. BigRedBeth can explain that one better than I.
Also, some of the properties we looked at to buy were not owner occupied so the tax rate was higher. If you see a listing on line and the tax seems way high, that is probably why. BigRedBeth can explain that one better than I.
We moved to SC from NY in '07, my wife is originally from Columbia. Lived there for a year then moved to Traveler's Rest in August of '08. I like it out here for the simple fact that it's quiet, but close enough to where we work and to downtown Greenville, which is about 30 minutes away and we're there at least once per month.
This area in general is booming and has a huge amount of transplants. I'll say this much about the local culture, it has changed me for the better, compared to the lifestyle we had and were used to in Upstate, NY. Transplants are from all over the U.S. and abroad, in this region, and over time a lot of amenities around here have evolved to cater to differences in demands for various things. I rarely feel like we have to go anywhere else for much of anything, and it's great to have small and large metros within a 4 hour drive of here to get away once in a while for fun.
Our property taxes are less than a third of what we would have paid in New York for the same assessment, a little over $5,000 on a scenic lot on a hill with a nice view.
Oh, so glad you’re back. It’s not uncommon for people to post, answer a few and drift away.
I can just give you two quick examples of taxes — In Loudoun County, Virginia, two years ago our taxes on a $550k house (4,000 sf) were in the range of $5,500+ and going up. It was over an hour from DC. Now we have a $250k house (2,400 sf) and the taxes are $2,500 in a wonderful, close to everything neighborhood. Because of the Homestead Act for older, retired people, we get a nice tax break on that.
I must be a cheap son of a gun; 2.5k seems like a lot, no?
(Yes...it's nothing like up North; my Parents live in a 1,200sq ft house valued at around $550k, and pay 12.5k a year in taxes - and that includes a senior citizen discount of $1.5k (isn't NYS *so* kind)).
Thus far, it looks as though Pickens has the lowest taxes, in our region.
As for the OP: things are tabulated differently here, than in NJ; here, a house can be situated inside of the City limits, or within the confines of the County.
If you live inside of the City limits, your taxes are a bit higher, yet the services that are offered reflect that (e.g. garbage collection, local police, etc).
If you live within the jurisdiction of the County, your taxes are a lot lower, yet your water bill might be a lot higher (as compared with those living within the City limits); you may have to pay additional fees if you want garbage to be picked up at your home, etc
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