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View Poll Results: Property taxes as percentage of primary home assessed value
> 0.5% 25 14.88%
> 1% 57 33.93%
> 1.5% 34 20.24%
> 2% 18 10.71%
> 2.5% 16 9.52%
> 3% 4 2.38%
> 3.5% 3 1.79%
> 4% 1 0.60%
> 4.5% 2 1.19%
> 5% 0 0%
> 5.5% 0 0%
> 6% 1 0.60%
> 6.5% 0 0%
> 7% 2 1.19%
< 8% 1 0.60%
< 9% 0 0%
< 10% 1 0.60%
< 11% 2 1.19%
< 12% 0 0%
12 or more% 1 0.60%
Voters: 168. You may not vote on this poll

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Old 10-16-2016, 11:06 AM   #41
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2982 on assessed value of 194,113. Identical house but no improvements just listed at 770k sold at 800k. So actual is less than 1% but tied to 1% of sale + 2% annual increase.
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Old 10-16-2016, 11:13 AM   #42
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Originally Posted by AllDone View Post
The base rate is 1% of purchase price. It doesn't rise as house value rises.
It can rise with time, however. I believe it can go up .25%/year.

It can also go up if you add square footage in a remodel - so if you add on that bonus room you'll pay the "current" appraised value for the new square footage.

You can also lock in a lower rate based on the previous owners prop 13 tax rate if you're purchasing from a parent, grandparent, child or grandchild.

You can transfer your prop 13 rate if you buy a home of similar or lesser value (note - it doesn't say anything about square footage) and you are over 55. Some restrictions if you're changing counties when doing this. (Not all counties recognize the transfer from other counties.

Our tax bill is significantly higher than when we bought because:
- We transferred my dad's tax rate since this was his house. (So our rate was super low compared to the market rate we paid for the house).
- We built a granny flat - which was appraised at bubble prices - but fortunately it had some handicap accessible features - so they didn't charge us for that part.... That saved us about $500/year in taxes for the wheelchair accessible bathroom with roll in shower and the grading associated with the ramp to approach the unit that was 100% ADA compliant. (You can add on accessible features like an accessible/wheelchair friendly bathroom without impacting your prop taxes.)

Our percentage of "market value" is about 0.32% - inclusive of all the bonds that are tacked on, plus trash, mosquito control, etc.
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Old 10-16-2016, 11:34 AM   #43
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0.3% of market value
excludes federal state and local sales taxes and surcharge on gasoline for transit and roads and on alcohol for general purposes
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Old 10-16-2016, 11:49 AM   #44
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OK, I screwed up on this.
Where I have lived, the assessed value has always been at least pretty close to the market value. I forgot that this is not the case in many areas.

Sorry.
There are often so many issues with any poll like this. As pointed out, some municipalities (ours for example), the 'assessed value' is somewhere near 1/3rd market value. I think this is done to provide different rates to property with different zoning. I'm guessing they do that so that they don't need to adjust each percentage individually, with the 'equalization factor'.

Other differences - I often hear people claim that it isn't 'fair' to have their taxes doubled (for example), just because the market/assessed value of their home doubled. Well, in many (maybe most?) places, it doesn't work that way. But many people are unaware. What happens is, they have an allowed amount of taxes they can collect, and it gets divided up based on the assessed value. So, if taxes went up 5% in a year, and if everyone's assessed value doubled, everyone's taxes would go up 5%. It gets distributed equally.

Also - in Illinois for example, much (most, I think) of the school funding is local, and collected through property taxes. The State pays a smaller amount. If your state does this differently, that tax might just be shifted from your property tax to some other tax. Kind of a shell game, but comparing property tax rates w/o knowing all these other factors gets pretty meaningless pretty quickly.

But there's still value to this exercise, we learn about all these differences!

-ERD50
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Old 10-16-2016, 11:50 AM   #45
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$6700 on an assessed value of $1.03 million. Property taxes in Calgary are some of the lowest in Canada.
Similar numbers for Canmore.
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Old 10-16-2016, 12:25 PM   #46
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BUT, if they don't get you one way, they'll get you another. Our sales tax is 9.75%.
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Old 10-16-2016, 01:00 PM   #47
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about 1.2% of assessed value. About .6% of actual value. Fortunately the assessor has not caught up with the complete gut, reno and addition that we did last year. I bet he is coming though!
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Old 10-16-2016, 01:07 PM   #48
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In the UK houses are put into bands, A, B, C, etc, the larger the band the higher the local taxes on that property. You can easily see how much you will pay on a house by typing in the address, seeing the band and then look at a table of the annual tax for each band.

The house we are currently renting is in band E and we are paying 2,400/year for it. (in the UK the occupiers of rented houses pay the property tax). We estimate this house to be worth about 200k.

We are buying a house, have agreed a price of 285k, and will pay the same property tax as the, much larger, house is also band E. We also considered an even larger house that is 50k more and that house is also listed as band E so the annual tax would be the same (0.7%)

So, we are currently paying 1.2% of the house's value, but when we move (hopefully) to our new house we'll be paying 0.8%.
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Old 10-16-2016, 01:17 PM   #49
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.52% of appraised value

9.75% sales tax
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Old 10-16-2016, 02:19 PM   #50
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2.5% in suburban North Texas. With our homestead exemption, it's actually 2.4%. Assessed value is very close to actual market value. We have no income tax, no personal property tax, and sales tax is 8.25%.
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Old 10-16-2016, 03:15 PM   #51
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1.66% school tax
1.66% property tax
8.25% sales tax
Dutchess county NY
Medium COL area, any county to the south of me taxes are at least double if not triple what I pay.
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Old 10-16-2016, 03:28 PM   #52
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right now I'm in year 8 of a 10 year property tax rebate in Philadelphia, so my property tax is keep less than 0.5%. Tax rate is 1.39% of accessed value (750K). another Pa with 6% sales tax.
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Old 10-16-2016, 04:35 PM   #53
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In particular this thread suggests that one should shop both by property taxes rates and home values when considering relocation. (In particular once retired why fight the big city traffic, move to a smaller city as besides taxes auto insurance may well be lower.)
Also rapidly growing areas will have big building related school taxes to pay for the new buildings, exurban areas less.
For those not from Tx a MUD is a municipal utility district that puts in water and sewer lines in a new subdivision, and taxes to pay for the bonds. An esd (Emergency Services District) is a district to pay for fire and possibly ambulance services in unincorporated areas.
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Old 10-16-2016, 04:46 PM   #54
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My curiosity was simply regarding forum members here.

If you want a more general look at property taxes around the US, here is a link that might perhaps be useful.

Property taxes: How does your county compare? - CNNMoney.com
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Old 10-16-2016, 04:48 PM   #55
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Morris County, NJ: 2.3% property tax rate, sales tax 7%
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Old 10-16-2016, 07:55 PM   #56
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My curiosity was simply regarding forum members here.

If you want a more general look at property taxes around the US, here is a link that might perhaps be useful.

Property taxes: How does your county compare? - CNNMoney.com
This is pretty accurate for my area of California. As others have said, thank goodness for Prop 13. We pay less than 1% of value, and closer to .5%
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Old 10-16-2016, 08:18 PM   #57
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Yup. If you buy in CA and stay put you have it pretty good.

As others have said they make it up in income and sales tax.

Services cost money.
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Old 10-16-2016, 09:29 PM   #58
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Md suburbs of DC
Market Value $1
Assessed Value 0.77
Taxes 0.014
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Old 10-16-2016, 09:52 PM   #59
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Same house in CA for 29 years. Just under 0.5% of zillow value.
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Old 10-16-2016, 10:42 PM   #60
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27 years in the same house in CA and the total, including the garbage bill, is 0.55 percent of the Zillow value.
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