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One thing I've been noticing of late in RI - is the slew of new listings.. with RE taxes over $10K. There's also been quite a few homes in Warwick listed which are due to be sewered.
Saw a little new build in NK a couple of weekends ago. Less than 1600 sqft. 6000 sqft lot. Taxes are going to be in the low $7000's judging by what has sold earlier in the development. Oh... and buyer has to pay the sewer assessment of around $9400! Basically another $100 a month added to the monthly housing payment for the next 20 years.
True, a buyer does have to do a lot of research and be a good negotiator. Maybe the seller will pay the sewer assessment at closing if they really want to sell. And no doubt new homes will have the highest overall tax since they are up to date.
I think the sewer issue is true of a lot of New England. So many old towns, even though fairly dense, such as Warwick and Cranston, are still in the process of connecting to sewers and/or city water. We've got lots of charm but not modern infrastructure in many cases. So, it comes down to what's most important to any individual buyer. Hard to put a price on amenities, convenience, charm, history, etc.
Our taxes are high, but depends on what other states you compare us with and what's included in the property tax rates. Neighboring states, with the exception of Massachusetts, can have higher taxes.
Little Compton has low taxes but has a 4.5% LCAT for land conservation which is essentially a transfer tax at closing. Their taxes include a couple of policemen and an elementary school, no garbage pickup, water, sewer, etc. Believe fire is a volunteer dept. as well. It is a rural community.
If you decide to go live down south, be aware of city, county, fire district, etc taxes and well as varying rates for home and car insurance due to hurricanes, floods, tornados..... A lot of factors to take into consideration....
True, a buyer does have to do a lot of research and be a good negotiator. Maybe the seller will pay the sewer assessment at closing if they really want to sell. And no doubt new homes will have the highest overall tax since they are up to date.
I think the sewer issue is true of a lot of New England. So many old towns, even though fairly dense, such as Warwick and Cranston, are still in the process of connecting to sewers and/or city water. We've got lots of charm but not modern infrastructure in many cases. So, it comes down to what's most important to any individual buyer. Hard to put a price on amenities, convenience, charm, history, etc.
Our taxes are high, but depends on what other states you compare us with and what's included in the property tax rates. Neighboring states, with the exception of Massachusetts, can have higher taxes.
Little Compton has low taxes but has a 4.5% LCAT for land conservation which is essentially a transfer tax at closing. Their taxes include a couple of policemen and an elementary school, no garbage pickup, water, sewer, etc. Believe fire is a volunteer dept. as well. It is a rural community.
If you decide to go live down south, be aware of city, county, fire district, etc taxes and well as varying rates for home and car insurance due to hurricanes, floods, tornados..... A lot of factors to take into consideration....
You're mistaken. Rhode Island taxes are high, ESPECIALLY when compared with other states! Eight highest per capita in the country. Higher than the Bay State! And when you head to the polls next month, think about what you get for your money. Or rather, what you DON'T get for your money. I'm PureBoston and I approve of this message.
You're mistaken. Rhode Island taxes are high, ESPECIALLY when compared with other states! Eight highest per capita in the country. Higher than the Bay State! And when you head to the polls next month, think about what you get for your money. Or rather, what you DON'T get for your money. I'm PureBoston and I approve of this message.
My niece is paying over $8,000/yr. in property tax in northern Cumberland on a 1200 sq. ft. ranch; there are fire dist. taxes on top of that; add in the ridiculous automobile tax. The house is worth about $340K with a one car garage. Oil heat costs her about $2500/yr. Elec. w/central air about $100/mo.
I have a 1500 sf ranch overlooking the 3 mountain ranges; r/e taxes $875/yr., auto tax $87/yr. fairly new car, 2/car garage, (volunteer) fire tax $30/yr. including EMT. All elec. house w/central air, $650 yr. for everything. $20/mo. for municipal water. No sewer tax. House worth about $220K.
No wonder folks are swarming to the mid-Atlantic states and the south. Then there is the weather and no stress.
Even Florida is less cost of living than RI and the northeast in general.
You're mistaken. Rhode Island taxes are high, ESPECIALLY when compared with other states! Eight highest per capita in the country. Higher than the Bay State! And when you head to the polls next month, think about what you get for your money. Or rather, what you DON'T get for your money. I'm PureBoston and I approve of this message.
Rhode Island's taxes are higher because Massachusetts has Proposition 2 1/2. Without it, ours would be through the roof. I don't know if Rhode Island permits initiative propositions, probably not.
New Hampshire has high property taxes, too. At least they don't have a state income tax so all in all they could well be cheaper.
You're mistaken. Rhode Island taxes are high, ESPECIALLY when compared with other states! Eight highest per capita in the country. Higher than the Bay State! And when you head to the polls next month, think about what you get for your money. Or rather, what you DON'T get for your money. I'm PureBoston and I approve of this message.
Reading comprehension anyone? You might want to re-read what I wrote. I am not at all mistaken.
Rhode Island's taxes are higher because Massachusetts has Proposition 2 1/2. Without it, ours would be through the roof. I don't know if Rhode Island permits initiative propositions, probably not.
New Hampshire has high property taxes, too. At least they don't have a state income tax so all in all they could well be cheaper.
Prop 2 /12 and also because you're in a much bigger state with much more revenue.
NH very much depends on individual situations- if you have a very high income it might be cheaper. RI income tax is based off federal taxes.
The new build house you describe in NK will find a sale price point which factors in the incredible property taxes & sewer assessment or it will languish on the market. You never mentioned the asking price. There is so little desireable new construction in RI, that if it's done right, in the right location, the builder can get up to 20% higher on the same square footage than resales.
One of the reasons Jamestown & L. Compton are at the top of the price heap in RI is their comparatively low property taxes. Well heeled out of state summer house buyers come in, not using schools or services, and are happy to pay purchase prices thru the roof. Compared to where they come from, the coastal houses are a bargain. While their local governments would never admit it, these towns are swimming in property tax revenues looking for a use.
$383,000. 3/2/2 Master on first, gas FHA, tankless hot water, central air... oak hardwoods, tile.. secondary bedrooms carpet, first floor laundry, full unfinished basement, deck. The price is actually lower than the 2/2/2's in Phase 1 of the same size which don't have the hardwoods built by another builder.
My niece is paying over $8,000/yr. in property tax in northern Cumberland on a 1200 sq. ft. ranch; there are fire dist. taxes on top of that; add in the ridiculous automobile tax. The house is worth about $340K with a one car garage. Oil heat costs her about $2500/yr.
That makes no sense considering Cumberland taxes are $15.21 per thousand. It should only be about $5200, not $8000. Also, my annual oil bill is under $1000 since I replaced my boiler and switched to an independent COD supplier instead of one of the big contract guys.
My niece is paying over $8,000/yr. in property tax in northern Cumberland on a 1200 sq. ft. ranch; there are fire dist. taxes on top of that; add in the ridiculous automobile tax.
$383,000. 3/2/2 Master on first, gas FHA, tankless hot water, central air... oak hardwoods, tile.. secondary bedrooms carpet, first floor laundry, full unfinished basement, deck. The price is actually lower than the 2/2/2's in Phase 1 of the same size which don't have the hardwoods built by another builder.
If this is a good NK location the price may be right on target. Otherwise, it might be high. The market always determines. However, if the new 2 bedrooms sold for near $400k it must be a premium location. As for hardwoods, almost everybody wants at least some type of solid surface floors. Carpet over plywood just says cheap in 2018 - even in the bedrooms.
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