Best neighborhoods to consider? (Pittsburgh, Crafton: 2013, insurance, chapel)

[gladhands]

Originally Posted by Goinback2011

Check the property taxes before you buy anything. They're likely significantly higher than whatever you're paying now.

You have absolutely no idea what you’re talking about, yet you insist on trying to paint the city in a negative light. Las Vegas property taxes are SIGNIFICANTLY higher than Pittsburgh’s.

[Goinback2011]

Originally Posted by gladhands

You have absolutely no idea what you’re talking about, yet you insist on trying to paint the city in a negative light. Las Vegas property taxes are SIGNIFICANTLY higher than Pittsburgh’s.

Rather than look it up myself, I'll mimic your laziness. Prove it.

[PGH423]

Originally Posted by Goinback2011

Rather than look it up myself, I'll mimic your laziness. Prove it.

I'll be lazy too but I assume that post is correct. Our property tax rates are high but assessed values are low (and market values are still low too).

[gg]

Originally Posted by gladhands

You have absolutely no idea what you’re talking about, yet you insist on trying to paint the city in a negative light. Las Vegas property taxes are SIGNIFICANTLY higher than Pittsburgh’s.

Here is how property taxes are calculated in Las Vegas. Las Vegas taxes are SIGNIFICANTLY lower than Pittsburgh.


Let's assume you have a house with a taxable value of $200,000 located in the City of Las Vegas with a tax rate of $3.50 per hundred dollars of assessed value. To determine the assessed value, multiply the taxable value of the home ($200,000) by the assessment ratio (35%): $200,000 X .35 = $70,000 assessed value.

To calculate the tax, multiply the assessed value ($70,000) by the tax rate (.035): $70,000 x .035 = $2,450.00 tax for the fiscal year.

Lets have a look at a comparison of $100,000 of value!

Las Vegas would be $1,225 per $100,000
Pittsburgh would be $2,263 per $100,000

[PGH423]

Originally Posted by gg

Here is how property taxes are calculated in Las Vegas. Las Vegas taxes are SIGNIFICANTLY lower than Pittsburgh.

Just to clarify: Property taxes are about the same in Las Vegas as Pittsburgh but the property tax rate is higher in Pittsburgh (since property values are higher there). So if you want a similar property in Las Vegas, you will pay twice as much for the house, your tax rate will be half the amount, and your total paid taxes will be about the same as in Pittsburgh.

[Goinback2011]

The statement made by the OP was - her mother was looking for a home in the $300k to $500k range. The property taxes in that range would be double the Las Vegas taxes.

So it appears my statement was correct and Gladhand was giving misinformation.

[erieguy]

Originally Posted by Goinback2011

The statement made by the OP was - her mother was looking for a home in the $300k to $500k range. The property taxes in that range would be double the Las Vegas taxes.

So it appears my statement was correct and Gladhand was giving misinformation.

Bingo

[PGH423]

Originally Posted by Goinback2011

The statement made by the OP was - her mother was looking for a home in the $300k to $500k range. The property taxes in that range would be double the Las Vegas taxes.

So it appears my statement was correct and Gladhand was giving misinformation.

Why would anyone compare the taxes without adjusting price? The taxes would be double but you’re getting double the property/house. The same house would cost double.
We’re not really disagreeing FWIW. Allegheny County has a high tax rate but low taxes (due to low assessed and market values).

[Goinback2011]

Originally Posted by PGH423

Why would anyone compare the taxes without adjusting price? The taxes would be double but you’re getting double the property/house. The same house would cost double.
We’re not really disagreeing FWIW. Allegheny County has a high tax rate but low taxes (due to low assessed and market values).

My original statement was - taxes here are higher than she is accustomed to. Gladhand claimed the opposite. This is incorrect.

The OP stated she is looking for a home in the $300k to 500k price range. There are many homes in that price range in Pittsburgh. The houses here have a tax rate double that of LV. It's not rocket science. If she wants a comparable tax, she needs to be aware of that before buying and lower her purchase price expectations.

[gg]

Originally Posted by PGH423

Why would anyone compare the taxes without adjusting price?

As an investor, I would compare property without adjusting price to a point, because I consider my home an investment. Property taxes are a fixed expense that eat into your investment. You can't get that money back. If a home in Pittsburgh costs $100,000 and a home in Vegas costs $150,000, that is your investment, but the taxes in Pittsburgh are so much higher as a percentage that it makes it much harder to make your money back and a profit on your sale. That is why I consider property taxes as a percentage of value. Pittsburgh's home values are lower because taxes are so wildly high. The average home in my neighborhood would have an average property tax at $17,000+ a year!!!!! That being said, home values just don't go up all that much around here unless of course they were about worthless to begin with like in Lawrenceville. At some point Pittsburgh will not be all that affordable because the tax rates are so wildly high. A $200,000 in Pittsburgh is at $4526 a year. You can't get into the better areas for $200,000 anymore. It adds up. The median home price in Las Vegas is $269,400. Taxes on that are $3,295 a year on that home in Vegas.

For me, I would invest a lot more into a home in an area with lower property taxes because those property taxes eat you alive around here. No interest in ever really putting big money in a home or a nice addition as it would just make my property taxes skyrocket.