Property Tax Increases

[cj1717]

Since 2013, mine have increased 1% to $1,965.

FL

 

[VanWinkle]

If you don't like property taxes, move to Alabama. My wife is disabled, and we have no property taxes on our 5,000+ square foot main home.

Our $400K lake house had property taxes increase to about $1,200 per year.

Although our state treasury is essentially empty, our politicians are limited by a poorly written State Constitution that doesn't allow large property tax rates without approval by the voters. And Alabama voters are so conservative that they don't consider the legislature to be good stewards of their monies.

Now those are some smart voters!!!

 

[YoungSaver]

2013: $2,812.42 (130k valuation)
2014: $2,821.54 (130k valuation)
2015: $2,792.68 (130k valuation)
2016: $2,957.28 (140k valuation)
2017: $3,066.86 (145k valuation)
2018: $3,428.30 (160k valuation)

Nearly a 30% increase in 5 years. Protested and lost.

 

[Oh no]

Within 12 years our property tax went from $10K to $12.5K. The joys of living in the Garden State.

 

[indiajust]

Yes, I sold in Boylan Heights in 2015. The rest of the state works so that Raleigh can spend. Wake is the Capital County, you're not. I suspect Raleigh faces the same problem that Austin does. A quiet fiscally conservative town of modest means and costs gets a no limit credit card and develops a liberal spending habit. Cost is no object, debt is no problem. Local elites enrich themselves, taxes and costs spiral up, creating and enforcing a class structure. Do it for 150 years and it looks like New England. Success causes failure, failure causes success.

Fortunately, you can sell into the boom and buy further out or switch to a less expensive town, without much impact on lifestyle.

 

[wolf]

2% a year. CA prop 13 -

CA may be expensive otherwise but it's a good place to own a home for a long time.

+1. Prior to prop 13. Older folks, on fixed income, where forced to sell their "appreciated" homes and move elsewhere.

FYI. When the CA. house is sold, property taxes are assessed at current rates.

However, if children inherit the home, they can keep the prop 13 tax
rate.

 

[Dtail]

FLA has a maximum of 3% yearly, so not quite as good as Cali but close.
Unfortunately since we just bought a house that is still recovering from 2008, the assessment will go up next by probably a decent amount, then settle in for future years.