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Old 02-25-2008, 12:11 PM
 
Location: SoCal-So Proud!
4,263 posts, read 10,781,069 times
Reputation: 1558

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Quote:
Originally Posted by tj7run View Post
Looking to re-locate to SA from Oregon. We live in a 2400 sq ft home, pool, RV parking very nice neighborhood and our property taxes run about 3500 a year. Our house was last appraised at 460, we purchased it at 285. If we were to live in the NC area, on a 1/2 an acre and 3000 sq ft new home, what would the taxes run each year? What type of payments would be looking at?

It seem that the housing is cheaper in Texas, but the taxes are a lot higher. We definitely would need to know if it would be to our best interest to move.
At least double for taxes...most likely more..depending on where you purchase.
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Old 02-25-2008, 01:10 PM
 
Location: Western Bexar County
3,823 posts, read 14,624,243 times
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Quote:
Originally Posted by tj7run View Post
Looking to re-locate to SA from Oregon. We live in a 2400 sq ft home, pool, RV parking very nice neighborhood and our property taxes run about 3500 a year. Our house was last appraised at 460, we purchased it at 285. If we were to live in the NC area, on a 1/2 an acre and 3000 sq ft new home, what would the taxes run each year? What type of payments would be looking at?

It seem that the housing is cheaper in Texas, but the taxes are a lot higher. We definitely would need to know if it would be to our best interest to move.
If you're asking how much the property taxes/payments are for NC area, then you're in the wrong forum. Yes, houses are cheaper here and our property taxes are higher. However, there is no state income tax here like in Oregon. Now, before someone gets their pants in a bunch and say their state has no income tax and their property taxes are cheaper than Texas, don't forget we do not set our property tax rates. Our state maintains a balanced budget that is hard to do in many other states. You have to keep in mind, what is making you want to move and looking at Texas? Cost of living, overcrowding, weather, etc.? With that in mind, then you can look at the pros and cons to decide if you should move or stay put.
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Old 02-25-2008, 01:23 PM
 
Location: SoCal-So Proud!
4,263 posts, read 10,781,069 times
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I think he's asking about NC..meaning North Central area of SA.
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Old 02-25-2008, 03:03 PM
 
1,740 posts, read 5,723,767 times
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Quote:
Originally Posted by firstclassflyer View Post
I think he's asking about NC..meaning North Central area of SA.
Correct. I believe he is referring to the North Central 281 area...
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Old 02-25-2008, 03:12 PM
 
1,740 posts, read 5,723,767 times
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Quote:
Originally Posted by Retired-&-going-back-2-CA View Post
As of 2007, it is no longer a non disclosure state. So your new KB home will be taxed at your purchase price.
Very interesting. When exactly did this change?

If this is true...then I am glad I didn't load up with lots of interior options. We had the master plan to do many upgrades after we moved in...like upgraded counter tops, appliances and crown moulding after the fact. I was hoping that my purchase price (the cheapest in that neighborhood to date) could be used to argue my tax basis lower than the average price/square foot of the neighborhood.
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Old 02-26-2008, 10:27 AM
 
Location: Oregon
160 posts, read 627,538 times
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Actually I am asking about the North Central area, reason for moving would be job transfer which my husband has some control over. If he didn't have to transfer to move up we would stay in Oregon. We are adventurous, and like to see what is out there. Getting as much information just makes our decision much easier. You are right, Oregon does have state income tax, but not sales tax. All in all it seems it probably evens out. You can buy more of a house out there, but when all is said and done it's pretty equal.
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Old 02-26-2008, 10:33 AM
 
Location: Portland, OR
164 posts, read 553,617 times
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this is actually the only thing that's keeping us from buying a home in San Antonio right now...I can't justify the $4,000 a year in taxes associated with purchasing a home in our price range. It's rediculous.

I'll continue to rent and save in hopes of moving to another city.
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Old 02-26-2008, 11:55 AM
 
1,740 posts, read 5,723,767 times
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Quote:
Originally Posted by manthechange View Post
this is actually the only thing that's keeping us from buying a home in San Antonio right now...I can't justify the $4,000 a year in taxes associated with purchasing a home in our price range. It's rediculous.

I'll continue to rent and save in hopes of moving to another city.
I hate to break it to you...but if you are renting you are paying taxes because the landlord factors in the cost of the taxes into your rent payment. The advantage to owning is that at least the interest and taxes associated with your home are tax deductable.
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Old 02-26-2008, 12:00 PM
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Location: Ohio
17,107 posts, read 37,960,312 times
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Quote:
Originally Posted by manthechange View Post
this is actually the only thing that's keeping us from buying a home in San Antonio right now...I can't justify the $4,000 a year in taxes associated with purchasing a home in our price range. It's rediculous.
In other states, you'd likely be paying that much in state income taxes, assuming you have that much income.

I moved to Texas from a midwestern state that has both high property taxes and state income taxes. I'm paying about the same amount in taxes as I was in the other state, but I prefer the transparency of property taxes to the stealthier payroll deductions and additionaly annual paperwork of income taxes. There are also avenues to protest and lower your property taxes if you think your home's value is being assessed unfairly. Income tax deductions tend to be less straightforward.
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Old 02-26-2008, 02:12 PM
 
Location: SoCal-So Proud!
4,263 posts, read 10,781,069 times
Reputation: 1558
Quote:
Originally Posted by banker View Post
I hate to break it to you...but if you are renting you are paying taxes because the landlord factors in the cost of the taxes into your rent payment. The advantage to owning is that at least the interest and taxes associated with your home are tax deductable.

True, but if the OP makes a large enough down payment (like they should) and purchases a cheap enough home, that tax advantage might be nullified, depending on number of dependents. The standard deduction could be more.
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