Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Old 09-27-2013, 06:41 AM   #81
Full time employment: Posting here.
BTravlin's Avatar
 
Join Date: May 2010
Posts: 996
Quote:
Originally Posted by nico08 View Post
Where do you live?
Quote:
Originally Posted by Corporateburnout View Post
Where do you live?
Cozumel, MX. Love the low property taxes!
__________________
Wherever you go, there you are.
(In other words, no whining!)
BTravlin is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-27-2013, 07:36 AM   #82
Recycles dryer sheets
 
Join Date: Mar 2012
Posts: 388
I am a NJ resident as well. Live about 25 miles due west of NYC. Somewhat rural area but taxes do sting a bit. Right now I am at 4.4% while working and will be 7.5% when I retire in a year or two. Will be 50 in a few months.
tdv2 is offline   Reply With Quote
Old 09-27-2013, 07:45 AM   #83
Full time employment: Posting here.
 
Join Date: Jan 2008
Posts: 838
Another FIRED NJ resident here: property taxes were 16.6% of what I spent last year.
DayDreaming is offline   Reply With Quote
Old 09-27-2013, 08:02 AM   #84
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
JoeWras's Avatar
 
Join Date: Sep 2012
Posts: 11,701
Quote:
Originally Posted by KingB View Post
+1. I considered getting out of IL but DW is resisting it because of the children/grandchildren.

Our (Cook County) sales tax is 9.75%.
Lake County (just north) is a tiny bit better on sales, but real estate is worse.

For the record, Dad's place had market value around 150k and he was spending nearly 6k in RE taxes, with the senior exemption. (You cannot go by the assessor's value -- they play number games in Illinois that cannot be correlated to reality.)

Yeah, no income tax on the pension, but geez this RE fixed tax is just murderous.
JoeWras is offline   Reply With Quote
Old 09-27-2013, 08:49 AM   #85
Full time employment: Posting here.
 
Join Date: Jan 2011
Posts: 586
Quote:
Originally Posted by JoeWras View Post
(You cannot go by the assessor's value -- they play number games in Illinois that cannot be correlated to reality.)
You mean like this? From Zillow - figures are correct for my property of just over 2100 sq ft.
Year Property taxes Change Tax assessment Change
2011 $8,690 -5.3% $32,366 -4.5%
2010 $9,179 11.9% $33,893 -11.1%
2009 $8,201 -1.7% $38,139 -15.7%
2008 $8,345 10.0% $45,263 --
2007 $7,588 7.7% $45,263 28.1%
2006 $7,048 10.7% $35,338 --
2005 $6,366 1.1% $35,338 --
2004 $6,295 -4.3% $35,338 18.6%
2003 $6,577 -- $29,801 --
KingB is offline   Reply With Quote
Old 09-27-2013, 10:40 AM   #86
Full time employment: Posting here.
 
Join Date: Dec 2006
Location: chicago burbs
Posts: 806
Another Illinois resident (would love to get out but wife won't listen). RE taxes here in western burbs of Chicago are $9700 for a house valued on Zillow at $440,000.
golfnut is offline   Reply With Quote
Old 09-27-2013, 02:15 PM   #87
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,653
3.5% of total spend for RE. By comparison, income taxes are ~10%.
jebmke is offline   Reply With Quote
Old 09-27-2013, 02:26 PM   #88
Thinks s/he gets paid by the post
 
Join Date: Mar 2010
Location: Kerrville,Tx
Posts: 3,361
I pay 5950 or so on a 380k house in the Texas Hill country. Would pay about 2k more but I live in an unincorporated area. Of course garbage service costs $500 a year so the net cost of being in the city would be 1700 or so. The city penalty might be a bit less as the emergency services and lateral roads taxes would also go away about $200 making the city cost $1500 more.
Of course there is no state income tax, our sales tax is 8.75.
meierlde is offline   Reply With Quote
Old 09-27-2013, 03:49 PM   #89
Confused about dryer sheets
 
Join Date: Dec 2009
Location: Phoenix
Posts: 9
1.35% of pre
2.4% of post
Arizona
ScoutAZ is offline   Reply With Quote
Old 09-27-2013, 04:33 PM   #90
Full time employment: Posting here.
 
Join Date: Apr 2011
Location: Castro Valley
Posts: 788
Castro Valley, CA

12% of retirement budget.

My property taxes have increased approx. 60% over the last 25 years, even with prop 13.
jkern is offline   Reply With Quote
Old 09-27-2013, 09:25 PM   #91
Recycles dryer sheets
Sittingduck's Avatar
 
Join Date: Jan 2013
Location: Northern IL
Posts: 140
Quote:
Originally Posted by steelyman View Post
That is correct, whether for private or public pensions. IL also does not have a progressive income tax.
Yet ! States broke. BTW 5% isn't insignificant when everything else has gone up including having to pay tolls to drive anywhere.
__________________
I have the nature of a polymath and the memory of a Commodore 64
Sittingduck is offline   Reply With Quote
Old 09-27-2013, 09:27 PM   #92
Recycles dryer sheets
Sittingduck's Avatar
 
Join Date: Jan 2013
Location: Northern IL
Posts: 140
Quote:
Originally Posted by KingB View Post
You mean like this? From Zillow - figures are correct for my property of just over 2100 sq ft.
Year Property taxes Change Tax assessment Change
2011 $8,690 -5.3% $32,366 -4.5%
2010 $9,179 11.9% $33,893 -11.1%
2009 $8,201 -1.7% $38,139 -15.7%
2008 $8,345 10.0% $45,263 --
2007 $7,588 7.7% $45,263 28.1%
2006 $7,048 10.7% $35,338 --
2005 $6,366 1.1% $35,338 --
2004 $6,295 -4.3% $35,338 18.6%
2003 $6,577 -- $29,801 --
Thats crazy - What kind of Alchemy is used by the assesors office?
__________________
I have the nature of a polymath and the memory of a Commodore 64
Sittingduck is offline   Reply With Quote
Old 09-28-2013, 05:10 AM   #93
Moderator Emeritus
Ronstar's Avatar
 
Join Date: Aug 2007
Location: Northern Illinois
Posts: 16,543
Quote:
Originally Posted by golfnut View Post
Another Illinois resident (would love to get out but wife won't listen).....
+1

House in Illinois 12.5% of my budget
Condo in Az 2.5% of my budget
(DW budget separate)

Illinois house taxes are 5 times Az condo, but value is at 2-3 times.
Ronstar is offline   Reply With Quote
Old 09-28-2013, 06:03 AM   #94
Recycles dryer sheets
kmt1972's Avatar
 
Join Date: Mar 2013
Location: Scarsdale
Posts: 180
About 2% of current income. After FIRE it would around 10% of income.
__________________
"There are no solutions...there are only trade-offs." - Thomas Sowell

Looking to retire or semi-retire by 45 based on our net worth going to $6 million outside our house.
kmt1972 is offline   Reply With Quote
Old 09-28-2013, 06:10 AM   #95
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,653
Quote:
Originally Posted by jkern View Post
Castro Valley, CA

12% of retirement budget.

My property taxes have increased approx. 60% over the last 25 years, even with prop 13.
if I did my math right, that is less than 2% per year. That seems pretty good.
jebmke is offline   Reply With Quote
Old 09-28-2013, 06:55 AM   #96
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,666
Mine are 12%

Check this thread for overall costs.:

http://www.early-retirement.org/foru...ml#post1361218
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
ShokWaveRider is online now   Reply With Quote
Old 09-28-2013, 07:02 AM   #97
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
jollystomper's Avatar
 
Join Date: Apr 2012
Posts: 6,129
Mine are 2.3% of current income, will be 4.1% of target FIRE income.
__________________
FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
jollystomper is offline   Reply With Quote
Old 09-28-2013, 07:06 AM   #98
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,666
Quote:
Originally Posted by ocdokie View Post
We're retired and property taxes are 3.2% of our annual budget for a 940 SF co-op.

South Orange County, CA -- inland 7 miles from beautiful Laguna Beach!
MV?
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
ShokWaveRider is online now   Reply With Quote
Old 09-28-2013, 08:25 AM   #99
Thinks s/he gets paid by the post
MooreBonds's Avatar
 
Join Date: Aug 2004
Location: St. Louis
Posts: 2,179
Quote:
Originally Posted by dm View Post
I'm in Missouri and pay $2600 on a 2500sq. ft house. But I also pay $1000 to $1500 a year for personal property tax.

We are also thinking of relocating and trying to add up all the taxes to make sure we don't miss anything. And I guess we should also wait to see what the Obamacare rates may be at other states.
I'm across the MO river from you. With HI rates, don't forget that MO has one of the lowest HI rates around. I expect them to still be among the lowest after Obamacare starts, so don't raise your hopes up too high!


Home market value is about ~$260,000, with 1,760 sq ft. Pay just under $4,000/year.

Still working. Estimated ER budget would have RE taxes at about 8%.

State income taxes in ER would be estimated at about 4.5% of budget (probably less, depending on the mix of income I play around with when retired in taxable vs deferred accounts).
__________________
Dryer sheets Schmyer sheets
MooreBonds is offline   Reply With Quote
Old 09-28-2013, 11:23 AM   #100
Recycles dryer sheets
 
Join Date: May 2011
Posts: 88
Quote:
Originally Posted by ShokWaveRider View Post
MV?
Nope, not Mission Viejo, but pretty close. We're in Laguna Woods (aka Geezerville).
ocdokie is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


» Quick Links

 
All times are GMT -6. The time now is 09:52 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.