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Old 01-28-2009, 10:11 AM
 
Location: Murphy, TX
649 posts, read 2,728,904 times
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I heard the property taxes in were low Louisiana. Can anyone estimate how much in property tax would it be for a 200k house? Not sure how different Property Tax rates are across the state, but I am mainly thinking about Northern Louisiana areas.
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Old 01-28-2009, 12:18 PM
 
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Oh brother, they are LOOOOOOOOOOOWWWWWWW. Louisiana uses a millage system based on 10% of the assessed value of the home. The millage values are different by county here (called parishes).

So let's see, in Bossier I *think* the millage is 83. So that means the following. 10% of 200K is 20K. There's a $7,500 homestead exemption so that is 12,500. A millage amount is 1/1000 times the millage value. So take 12,500*83/1000 = $1037.50 <== That's your property tax for the YEAR. If that's not low I don't know what is.

Clearly TX gets their money with property taxes, as you can see there's no free lunch in TX either, unless you're stinking rich and rent.
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Old 01-31-2009, 04:12 PM
 
Location: Murphy, TX
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WOW!!! Thanks for the info. Texas's property taxes goes up to 3%, some are maybe 2.5%. So 200k houses over here it is 6000 to 5000!!! That is very high, very high compared to LA.

I am mainly asking this because my parents are thinking about retiring and moving to TX or closer to where I live. My parents retirement income is low so no Income Tax in Texas isn't going to help, BUT the properly tax will probably kill their budget! Northern LA areas might be good are for them to settle into.
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Old 02-19-2009, 09:43 PM
 
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We elect our tax assessors so they tend to be nice to taxpayers. Homes in my neighborhood sell for about 160k our assessed value tend to be in the 100 k range. I acually paid property tax for the first time this year 450.00

The homestead expemption is only for homeowners so its the buisnesses and renters that make up the tax revenue.

Of course our sales tax is near 9% but only cost 30.00 to renew car registration for 2 years.
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Old 02-08-2011, 10:45 PM
 
Location: Murphy, TX
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I know this my old post, but I just had to say you guys in LA have it so good in property taxes. I ended up buying a $200K house in the Dallas metro in 2009. They just raised my property value this year and now I will be paying almost $5,000 a year in property taxes! I really wished I had that $1,000 low property tax instead!

Guess I am making up for Texas not having income tax now...
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Old 02-10-2011, 01:13 PM
 
145 posts, read 578,049 times
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Quote:
Originally Posted by unseengundam View Post

Guess I am making up for Texas not having income tax now...
You hit the nail on the head. Between the LA state income tax & TX property tax, it really is a wash.

Be happy, though, that you don't have to pay LA premiums for auto & homeowners insurance, let alone flood. TX is definitely a better deal there.
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Old 02-10-2011, 01:53 PM
 
Location: Texas/Louisiana
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I believe property taxes in Louisiana is the lowest in the U.S. I don't have the list with me.

We're exempt (property tax= $0) here in a small town in central Louisiana. Just crying from laughing.
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Old 02-10-2011, 08:53 PM
 
Location: Murphy, TX
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Originally Posted by dal2aus View Post
You hit the nail on the head. Between the LA state income tax & TX property tax, it really is a wash.

Be happy, though, that you don't have to pay LA premiums for auto & homeowners insurance, let alone flood. TX is definitely a better deal there.
Homeowners insurance I though was high in Texas. I guess LA is higher due to hurricanes.

I have actually figured out LA is good state for low fixed income retirees, like my dad. From what I figured my dad's income is so low he would very little in LA taxes and then if he buys a house he pay almost $0 in property tax. Right now my dad can't buy a house in Dallas because the property tax + mortgage makes it impossible.
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Old 02-14-2011, 02:48 PM
 
Location: Louisiana
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Quote:
Originally Posted by unseengundam View Post
Homeowners insurance I though was high in Texas. I guess LA is higher due to hurricanes.

I have actually figured out LA is good state for low fixed income retirees, like my dad. From what I figured my dad's income is so low he would very little in LA taxes and then if he buys a house he pay almost $0 in property tax. Right now my dad can't buy a house in Dallas because the property tax + mortgage makes it impossible.
Depending on your dad's retirement income, he may not qualify for a home loan unless he has a significant down payment. I am older and wanted to move into a smaller house, but unless I pay about 50% of the cost of the house with cash — which would put a significant dent in my savings — even my own bank requires that kind of down payment, and on the condition that I do not move any of my assets. Several mortgage companies I contacted are not interested in doing a conventional loan, even with a significant down payment.

It is certainly a buyer's market as far as selling your house too. There are 4 houses for sale on my street; one of them has been for sale for more than a year. A fifth house recently sold for about half its asking price.
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Old 02-14-2011, 09:06 PM
 
Location: Murphy, TX
649 posts, read 2,728,904 times
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Quote:
Originally Posted by Rosinante View Post
Depending on your dad's retirement income, he may not qualify for a home loan unless he has a significant down payment. I am older and wanted to move into a smaller house, but unless I pay about 50% of the cost of the house with cash — which would put a significant dent in my savings — even my own bank requires that kind of down payment, and on the condition that I do not move any of my assets. Several mortgage companies I contacted are not interested in doing a conventional loan, even with a significant down payment.

It is certainly a buyer's market as far as selling your house too. There are 4 houses for sale on my street; one of them has been for sale for more than a year. A fifth house recently sold for about half its asking price.
That could be a factor indeed. My parents actually had to sell their old house at $10k-$12K loss out of their pocket, which put dent in my dad's retirement funds. They had to sell that house since there was no way they could afford the mortgage payment after my dad's retirement. If he does get house, it will probably be very small house ($70k or less).
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