Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 05-12-2009, 07:45 PM   #21
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,823
yearassessed valueproperty tax
2003$16,000$1019
2004$16,000$947
2005$11,320$436
2006$11,320$404
2007$12,390$551
2008$16,000$864

Our parish gave us a special break in property tax assessments in 2005-2007 (after Hurricane Katrina).

But in 2008 assessments had to be re-evaluated, as is required every four years by state law. Most people ended up with a higher assessment and paid a lot more for taxes last year than in 2004 before Katrina.

I don't know why mine was lower instead of higher in 2008, compared with 2004! I guess the millages are less.

The house value went up, but the land value went down. Maybe it had to do with the Katrina flooding in my neighborhood, even though my house has never flooded.

We are really lucky to have such low property taxes here, with $7,500 subtracted from the assessed value for our homestead exemption (but our sales taxes are very high).
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R 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 05-12-2009, 08:08 PM   #22
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Quote:
Originally Posted by Want2retire View Post
yearassessed valueproperty tax
2003$16,000$1019
2004$16,000$947
2005$11,320$436
2006$11,320$404
2007$12,390$551
2008$16,000$864

Our parish gave us a special break in property tax assessments in 2005-2007 (after Hurricane Katrina).

But in 2008 assessments had to be re-evaluated, as is required every four years by state law. Most people ended up with a higher assessment and paid a lot more for taxes last year than in 2004 before Katrina.

I don't know why mine was lower instead of higher in 2008, compared with 2004! The house value went up, but the land value went down. Maybe it had to do with the Katrina flooding in my neighborhood, even though my house has never flooded. We are really lucky to have such low property taxes here, with $7,500 subtracted from the assessed value for our homestead exemption (but our sales taxes are very high).
Look at those low property taxes! And you want to leave that quaint Orleans maam
__________________

__________________
Notmuchlonger is offline   Reply With Quote
Old 05-12-2009, 08:09 PM   #23
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,823
Quote:
Originally Posted by Notmuchlonger View Post
Look at those low property taxes! And you want to leave that quaint Orleans maam
I know, I must be nuts! But our homeowners' insurance makes up for it.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 05-12-2009, 08:13 PM   #24
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Oh hey forget about that insurance thing...
__________________
Notmuchlonger is offline   Reply With Quote
Old 05-12-2009, 08:15 PM   #25
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,823
Quote:
Originally Posted by Notmuchlonger View Post
Oh hey forget about that insurance thing...
Oh yeah, GOOD idea.... better forget that flood insurance too, right?
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 05-12-2009, 08:16 PM   #26
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Quote:
Originally Posted by Want2retire View Post
Oh yeah, GOOD idea.... better forget that flood insurance too, right?
That only happens once every 100 years right? Just wing it!
__________________
Notmuchlonger is offline   Reply With Quote
Old 05-12-2009, 08:18 PM   #27
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,823
Quote:
Originally Posted by Notmuchlonger View Post
That only happens once every 100 years right? Just wing it!
Yeah, GREAT plan....

Actually, I will be so relieved if we just don't get hard by another hurricane this year (now that my retirement in November is official).
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 05-14-2009, 10:08 AM   #28
Thinks s/he gets paid by the post
 
Join Date: Nov 2006
Posts: 2,268
I live in a suburb of Dallas. My appraisal dropped 4.3% this year.
__________________
utrecht is offline   Reply With Quote
Old 05-14-2009, 10:30 AM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
I am reserving my best choice comments about property taxes until I get my 2009-10 school tax bill. I received a postcard 2 days ago, indicating that the school budget will increase only 0.7% for the upcoming year.
Uh-huh...
Show me the tax bill in B/W and then I'll believe it.

I am lucky that I've lived here since 1984, the house was built in 1977 or thereabouts, and re-assessment on established owners is infrequent. Depreciation based on age of structure is a wonderful thing.
New home owners and recent buyers get clobbered.
I can live with that.
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 05-14-2009, 02:41 PM   #30
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
Quote:
Originally Posted by ziggy29 View Post
Last year the appraised value of my land (nearly 1/2 acre) was about $12,200. This year it's nearly $22,000.
I just took another look at my taxes. The appraised value of our "land" (about the size of a postage stamp) is $35k.
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 05-14-2009, 03:56 PM   #31
Full time employment: Posting here.
 
Join Date: Jul 2007
Location: ST LOUIS
Posts: 993
Quote:
Originally Posted by Want2retire View Post
yearassessed valueproperty tax
2003$16,000$1019
2004$16,000$947
2005$11,320$436
2006$11,320$404
2007$12,390$551
2008$16,000$864

.
Just think what that would be in NJ.
__________________
rec7 is offline   Reply With Quote
Old 05-14-2009, 04:00 PM   #32
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,823
Quote:
Originally Posted by rec7 View Post
Just think what that would be in NJ.
There are reasons why I don't live in NJ! I would not have been able to buy a house at all, in New Jersey.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 05-14-2009, 04:58 PM   #33
Thinks s/he gets paid by the post
73ss454's Avatar
 
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,378
The property taxes in Florida are so screwed up that even the people doing the appraising don't know what's going on. I went for a hearing last year about my taxes as the average house price went down 20 to 22.5% yet my assessed valuation went down .033%. Bringing this up at my hearing only brought blank faces as there is no answer how people are taxed in this state.

I actually called my local Senator's office and left my Ph#. A week later on a Sunday AM the Senator actually called me. I was shocked! He was a great guy who was also in Muscle Cars as I am and we spent about an hour on the phone. He's a realtor in the area by trade and what he said gave me a good laugh. He said the only way to cut your taxes in Florida is to move out of state or die. We both had a good laugh.

Also if Florida lowers your accessed valuation on your house they just raise the millage rate and your taxes go up.
__________________
73ss454 is offline   Reply With Quote
property taxes
Old 05-14-2009, 10:02 PM   #34
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Location: Pittsburgh, PA suburbs
Posts: 1,769
property taxes

The taxes only go UP here in the Keystone State. No wonder so many businesses flee to points south and west. I dread my July school tax bill as it is huge. We also have a lot of annoying local taxes and occupational privilege taxes and when you die, inheritance taxes. Maybe I should shut up as my paycheck comes from the state, but if PA were more hospitable to business this might offset the onerous burden on homeowners.
__________________
WhoDaresWins is offline   Reply With Quote
Old 05-16-2009, 10:02 PM   #35
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,388
Despite being in our house for 20 years, I never paid much attention to our RE tax. It's not much we could do about, so why bother? I also never really looked at the valuation notice that the county sent.

Then, last year, I happened to look at the public info that Zillow had on our house. Whoa! They got the square footage, and the number of bedrooms all wrong. In fact, they showed my house as single-storied, while it is really a two-story. The county record was wrong from the time the house was built.

My house is even larger than when it was originally built, with a 400-sqft extension. My contractor applied for a building permit, being all legitimate. I would expect that the two new bedrooms (for a total of 6) and the additional square footage would be updated into the county record, but they were not.

So, all these years I have been paying lower RE taxes than my neighbors, as I indeed verified that to be the case, via Zillow of course. I am paying about 75% of what the tax should be. It is going to be tough for me to let go of this house now.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 05-16-2009, 10:14 PM   #36
Full time employment: Posting here.
 
Join Date: Jul 2008
Posts: 619
Want2Retire--why is the "assessed value" of the property so low?
__________________
SarahW is offline   Reply With Quote
Old 05-16-2009, 10:19 PM   #37
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,823
Sarah, in my present location in Louisiana (as well as my future location in Missouri), the assessed value is only a small percentage of the appraised value. Here, the assessed value is 1/10th of the appraised or true market value.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 05-16-2009, 10:23 PM   #38
Full time employment: Posting here.
 
Join Date: Jul 2008
Posts: 619
I lived in Baton Rouge in the early '90s. Seems like I remember the homestead exemption was $75,000 or some unreal amount.
__________________
SarahW is offline   Reply With Quote
Old 05-16-2009, 10:25 PM   #39
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,823
Quote:
Originally Posted by SarahW View Post
I lived in Baton Rouge in the early '90s. Seems like I remember the homestead exemption was $75,000 or some unreal amount.
Yes, that is correct - - the Louisiana homestead exemption is $75,000 of the value of the home (or, $7,500 of the assessed value). That is why my taxes fell so dramatically when my assessed value went from $16,000 down to $11,320. I guess I just confused things instead of clarifying that drop as I intended when I mentioned the homestead exemption (sorry!)

In your area, is the assessed value not reduced to a fraction of the actual value? How is it computed in your area?
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 05-16-2009, 10:40 PM   #40
Thinks s/he gets paid by the post
Rustic23's Avatar
 
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,624
I too dislike high property tax. Mine is around $7,000. However, you have to look at the whole package. Other fees and taxes. No income tax, No tax on food, medicine, and such, and a 6.5% sales tax. Our home would be a million or so dollars or more in most of California. Some states tax income, some investments, some sales, some estates, California seems to tax everything. So it is really the total package that counts, that and the fact the DW would not move no matter how cheap another place was.
__________________

__________________
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
Rustic23 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
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


Similar Threads
Thread Thread Starter Forum Replies Last Post
Anyone ever go through a property tax grievance? kjpliny FIRE and Money 29 11-11-2009 02:31 PM
Property Tax Heaven boont FIRE and Money 26 03-16-2009 06:06 PM
Property Tax Piracy cantlogin Other topics 14 12-16-2007 08:48 AM
My city is considering a property transfer tax accountingsucks FIRE and Money 11 04-20-2007 07:04 PM

 

 
All times are GMT -6. The time now is 09:49 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.