Why should we NOT relocate to Tampa, Florida? (Clearwater, Naples: real estate, buy)

[sinatras]

Originally Posted by bobandsherry

Um, OK, so you are talking assessed value, not property value. The house you included lists for over $900K.
BIG difference.

I never said anything about list price. I am talking about assessed value.

[sinatras]

Originally Posted by bobandsherry

Um, OK, so you are talking assessed value, not property value. The house you included lists for over $900K. BIG difference.

You also said that your home was $350K (guessing assessed). So all things being equal, your place assessed at $350K would have a tax bill of around $4,800. So how do you get to $7K you originally said?

I meant to type $450 but it's gone up I believe.

So let's review:

My home is assessed at $450-$500 something around there.
My tax bill is near $7.

I also pay homeowners insurance AND flood insurance.

All of this adds up to more than $11k.

Conclusion: Property taxes and insurance costs can be high in Tampa Bay!

When I lived in Northern Virginia, my property taxes were $2k a year and my homeowners insurance (which covered flooding) was $600 a year.

[sinatras]

Originally Posted by bobandsherry

No, high in South Tampa, I'm in "Tampa Bay" and pay no where near what you do. And yeah, you "meant" to type $450 but typed $350, sure until someone dug into the details. And I'm sure you "meant" to state it was assessed value vs. market value. Assessed value means NOTHING in the real world. Every county and municipality uses their own formula and other fuzzy math to arrive at said assessed value. The market value is what puts things on an oranges to oranges basis (see what I did there).

As I've already found flaws in your embellished details I can only imagine I'd find as big of a hole in what you state about Virginia home. I have neither the time or interest in showing how far you bend the details to distort the truth.

Last time I checked South Tampa is in Tampa Bay.

Assessed value is what counts when it comes to taxes. But maybe you went to the same college that Mark Livingston did.

It's true. While my assessed value is $450k plus, my market value is prolly a million. I hope they never asses my house at a million. My tax bill would prolly be nuts.

Your jealousy of my assessed AND market value is showing.

[bobandsherry]

Originally Posted by sinatras

Last time I checked South Tampa is in Tampa Bay.

Assessed value is what counts when it comes to taxes. But maybe you went to the same college that Mark Livingston did.

It's true. While my assessed value is $450k plus, my market value is prolly a million. I hope they never asses my house at a million. My tax bill would prolly be nuts.

Your jealousy of my assessed AND market value is showing.

You are just so silly... assessed value mean nothing on it's own. It's assessed value times a rate. Both of those individually mean nothing, one or the other is changed based on the municipality wanting to reach a pre-defined level of tax base. To be comparable one has to look at market value, plain and simple.

I am very comfortable where I am in my life, retired before 55 and enjoying life. I live in a house that fits my needs, preferring to keep my money invested and liquid. But if you think your house value defines your success, then just shows how juvenile you are.

I've known many people who were house rich and barely had any money in the bank. Close friend had million+ dollar house (needed the status image for his job) but had empty living room, dining room and a couple bedrooms as he couldn't afford to furnish said home. He also couldn't afford to travel with us as he had nothing left to spend.

[sinatras]

Originally Posted by bobandsherry

You are just so silly... assessed value mean nothing on it's own. It's assessed value times a rate. Both of those individually mean nothing, one or the other is changed based on the municipality wanting to reach a pre-defined level of tax base. To be comparable one has to look at market value, plain and simple.

I am very comfortable where I am in my life, retired before 55 and enjoying life. I live in a house that fits my needs, preferring to keep my money invested and liquid. But if you think your house value defines your success, then just shows how juvenile you are.

I've known many people who were house rich and barely had any money in the bank. Close friend had million+ dollar house (needed the status image for his job) but had empty living room, dining room and a couple bedrooms as he couldn't afford to furnish said home. He also couldn't afford to travel with us as he had nothing left to spend.

That's a very nice story.

Don't you have any pool maintenance to take care of over there in Riverview?

[sinatras]

Originally Posted by daaronm80

Thank you for all of the responses. It has been very informative.

I am just trying to gather as much information as possible for our decision. As a professor, I tend to over analyze and thoroughly research decisions. I just want to make sure I have as much information as possible going into it so there are minimal surprises once we arrive.

We have no reservations about Florida. My wife would not have applied for the job there if we had reservations about moving. Most of our remaining family is in Florida. My wife's mother is in Pensacola along with a few cousins. My mother is in Sebring. My wife's family on her father's side are scattered around Orlando. So, we are very familiar with all that Florida has to offer.

Our major "Pros" for moving to Florida are obviously the weather, and we will save a substantial amount of income tax. My original post was designed to capture some of the "Cons" of the decision. We certainly know that it gets really hot May-October and the bugs are crazy. I am just trying to peel the onion back a little further to find out some of the cons that we may not think of right off hand.

My wife and I are both off during the summer, so we will have plenty of opportunities to flee the heat. On a side note, nothing can be worse than the polar vortex in January. It is very windy where we live currently, and it is not uncommon for wind chill to hit -30 or -40 during the winter. We boil water on the stove and throw it outside to make instant snow. Not really my idea of fun. I think we will give Florida serious consideration. As many other posters have said, the pros often outweigh the cons.

I highly recommend Maine and Canadian Rockies for escaping the Florida heat. That's where I go.

[MortonR]

True, you may have tax savings, but understand that this is directly offset by higher expenses in areas such as insurance (both car and home - and wait until children are driving age!!!!) and lower salaries relative to the COL.

I would also be surprised that if you’re a tenure track employee that you would be off in the summer. None of the tenured or tenure track profs I worked for were off in the summer - they might not have had classes, but they were definitely working during that time.

Good luck!

RM

[bobandsherry]

Originally Posted by sinatras

That's a very nice story.

Don't you have any pool maintenance to take care of over there in Riverview?

Nope, it's all going fine, thanks for asking. Gives me more time to prove out your BS.

[sinatras]

Originally Posted by bobandsherry

Nope, it's all going fine, thanks for asking. Gives me more time to prove out your BS.

Yeah. I must be delusional. Paying 11k in taxes and insurance, it must all be a figment of my imagination. I think my CPA would disagree. And my insurance agent would disagree also. So would my neighbors, who pay A LOT more than that.

I'm sure insurance and taxes are much much lower in Riverview. No shocker there. Enjoy your lower taxes, your lower insurance! Because many other people in Tampa Bay are not paying what you pay. It is disingenuous to say that property taxes and home insurance are cheap in Tampa Bay. In many many parts of Tampa Bay they are not and are in fact much higher than northern states, especially higher than your old stomping grounds of Illinois.

My taxes and insurance would have been 14k this year if I hadn't switched flood carriers this year. My annual flood premium increased to $5k. And no I'm not on the water. I am in a flood zone that has NEVER EVER flooded. Anyway I was able to get a cheaper policy. My homeowners is a little over $2k a year and my flood is $2k a year.

Yeah, all a delusion.

[bobandsherry]

Originally Posted by sinatras

Yeah. I must be delusional. Paying 11k in taxes and insurance, it must all be a figment of my imagination. I think my CPA would disagree. And my insurance agent would disagree also. So would my neighbors, who pay A LOT more than that.

I'm sure insurance and taxes are much much lower in Riverview. No shocker there. Enjoy your lower taxes, your lower insurance! Because many other people in Tampa Bay are not paying what you pay. It is disingenuous to say that property taxes and home insurance are cheap in Tampa Bay. In many many parts of Tampa Bay they are not and are in fact much higher than northern states, especially higher than your old stomping grounds of Illinois.

My taxes and insurance would have been 14k this year if I hadn't switched flood carriers this year. My annual flood premium increased to $5k. And no I'm not on the water. I am in a flood zone that has NEVER EVER flooded. Anyway I was able to get a cheaper policy. My homeowners is a little over $2k a year and my flood is $2k a year.

Yeah, all a delusion.

If it's so expensive why don't you just move? Or does just complaining about it make you feel better?

BTW, there's areas back in my stomping grounds where taxes are much higher. Here's one that should make you feel like you have a real bargain - $985K market value, $22K in property taxes. Not even near the water.

https://www.zillow.com/homedetails/6...?fullpage=true

But since you put so much emphasis on assessment value, note that the assessed value is only $88K, just shows you how silly you are for trying to compare assessed values.

And then here's another, a bargain at $925K (note that the assessed value is only $69K), taxes are $20K.

https://www.zillow.com/homedetails/8...?fullpage=true

You just have no idea what the rest of the country deals with on taxes, you have a bargain where you are.