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Kinda hard to figure. The reason I say this is because so many properties in Philly received 10 year tax abatements when they were developed (or re-devleoped). We are in a three year old high-rise condo and will pay less than $1000/year for the next 7 years until the abatement runs out. Then? Taxes are assessed when properties they are sold as I understand it, based on "market value" (which is determined to be some sort of odd formula I'm told no one can decipher).
Just for gins, I looked up several properties to give you an idea:
>List price of $315K taxed at $1099
>List price of $319K taxed at $2982
>List price of $549K taxed at $44646
>List price of $550K taxes at $5993
>List price of $810K taxed at $12465
>List price of $815 taxed at $3616
>List price of $825K taxed at $6407
See - little rhyme or reason. That said, even the outlier above (the $810K property) is assessed at rates well below what we were paying in Houston - a big surprise to me.
Not sure whether this helps or simply invites confusion.
Taxes go by list price??? That's mighty subjective, as is selling price. How about actual property assessments??
Taxes go by list price??? That's mighty subjective, as is selling price. How about actual property assessments??
No, taxes don't go by list price. To answer your question, I looked up some properties currently for sale along with their existing tax rates. As I understand it, tax rates are fixed after a sale until the next sale. Once a property sells, a complicated formula is used to determine "market value" and a new tax is assigned. "It's a Philly thing" is all I've been told. The rates on the listed properties I provided are a good indicator of local rates. Given we personally have tax abatement for the next 7 years, we won't worry about it for some time.
We were just in Portland on vacation and confirm that it's quite lovely. However, we already have a northern retirement home (in SW Vermont) and are looking for an affordable warmer climate location for the worst winter months (Dec-Feb) that is in the Eastern U.S., near a lake or river and NOT in Florida. Prefer somewhere with a reasonable ratio of other native New Yorkers, good shopping, excellent medical facilities and lots to do (golf, nature walks, arts & crafts, woodworking, cultural activities, etc.).
Thanks, it's already on our list of places to visit in an exploratory trip next Spring. There are several lakes in the general area that look promising.
We're open to suggestions/recommendations anyone might have on specific areas in NC, SC, GA, VA, W.VA, TN, etc. We're used to small towns in VT so needn't be a major metropolitan area or have more than basic shopping and services (except, of course, for medical care).
Winchester, VA is a neat little town. There's a nearby college, good medical facilities, museums, parks, and a cute downtown area (surrounded by a sea of more typical and recently built country/suburban neighborhoods). It's near the mountains, which is nice. I would recommend it as a place to live.
But.... how did this town make it onto the AARP list of most affordable places? For northern VA it's a bargain, but compared to places in the midwest or south it's still fairly expensive.
Anyway, here's a photo tour if anyone is interested.
We are within two years of retirement and escaping Texas and have been traveling to destinations that interest us as "final resting spots." In the past 18 months, we have spent time in both Ithaca and Portland and would very much consider both. As of today, Portland (and the surrounding area) is at the top of our list, followed by Glens Falls NY, and then Ithaca (or Auburn at the northern end of the fingerlakes). The rest of the list doesn't appeal to us in the least, but that is our opinion. Any decision anyone makes should be based on what they like and not on any list. There may actually be someone that would like to live in Midland Texas!
We are within two years of retirement and escaping Texas and have been traveling to destinations that interest us as "final resting spots." In the past 18 months, we have spent time in both Ithaca and Portland and would very much consider both. As of today, Portland (and the surrounding area) is at the top of our list, followed by Glens Falls NY, and then Ithaca (or Auburn at the northern end of the fingerlakes). The rest of the list doesn't appeal to us in the least, but that is our opinion. Any decision anyone makes should be based on what they like and not on any list. There may actually be someone that would like to live in Midland Texas!
I second Ithacha. My impression is that Portland, Maine is more for younger adults.
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