Will Portland home prices keep going up? (Old Orchard Beach, Charleston: mortgage, houses)

[New place]

WhoFanMe - it was 9 Hawthorne St in Brunswick. It sold for under $ 210k and the taxes were up there.

And yes Vance Mack - that helps. The key is trying to find something under $ 300K!

[WhoFanMe]

Originally Posted by New place

WhoFanMe - it was 9 Hawthorne St in Brunswick. It sold for under $ 210k and the taxes were up there.

It closed for a net price of $190,500 ($194,000 - $3500 in seller concessions). The taxes for 2017-2018 were $3017.38. The taxes in 2016-2017 were $2644.44, so yes, that's a 14.4% increase. $3000 is not $5000, but that's a big jump in one year.

[New place]

Thanks for setting me straight. It was a very small house on a small lot and so that increase was alarming to me and when I contacted the Tax protest group in Brunswick - they said due to the funding of a new school (without Maine State help) that those taxes were slated to increase 5 percent a year for the next several years to pay for the school.

That was why I thought Brunswick was off-limits given the tax scenario. Sorry my numbers were not accurate but the overall gist is the same I think

[WhoFanMe]

Originally Posted by New place

Thanks for setting me straight. It was a very small house on a small lot and so that increase was alarming to me and when I contacted the Tax protest group in Brunswick - they said due to the funding of a new school (without Maine State help) that those taxes were slated to increase 5 percent a year for the next several years to pay for the school.

That was why I thought Brunswick was off-limits given the tax scenario. Sorry my numbers were not accurate but the overall gist is the same I think

When taxes go up 14% in one year, I can see why residents would be alarmed. I live in Gorham and the superintendent just proposed a budget with a 6.45% increase over the current year. You can guess who is going to make up the difference.

[Vance Mack]

The situation with property taxes in Maine will probably not get better in the near term.


https://www.pressherald.com/2017/03/...roperty-taxes/

[New place]

That article does not paint a pretty picture! Yikes. I am not sure what the answer it.

[Northern Maine Land Man]

Portland is a magnet destination. Half of Maine's population lives within 50 miles of Congress Street in Portland; and half of that is water! Just swing a compass with a radius of 50 miles and you will self educate yourself on Maine demographics. A couple of years ago, there were four state representatives within walking distance of each other in Portland. Where I live, one district is 80 miles by 52 miles. That is roughly 4,200 square miles. I know. I'm running for that district. That land area is represented by one legislator versus 78 legislators serving the smaller area surrounding Portland.

[mainegrl2011]

Originally Posted by New place

Thanks NMLM. What about for singles 50 plus without children? Do they move in and stay?

We all benefit from an educated society. Don't try to get out of supporting local schools or complain about it just because you don't have children. On the other hand, I really question the logic in building some of the new schools. It wouldn't surprise me to see more and more online educational opportunities for high school students--lower grades such as Pre-K through 8, who knows.

[New place]

Mainegrl2011 - I am not complaining about paying for schools at all. And it has nothing to do with having children or not having them - so I don't appreciate your comment.

Education is extremely important to us all. That said - I have worked with school budgets in CT and there is a lot of waste and excess. Also, annual raises of 4 to 5 percent for almost all, full-time therapists at each school - all of whom make over $ 100k, and music, language, and private coaches for each kid. That is not education - that is spending money recklessly.

Building schools and rewarding teachers is very, very important for everyone. However, it has to be done responsibly so the community as a whole does not suffer.

[colty31]

It is possible to find a good deal in Portland.

My wife and I closed on a house is December of 2017 for under 200K. 3 bedroom/2 bath over 1200 sq. feet

Only 3.5 miles off the peninsula.