Property taxes by region

[Just_Steve]

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.

 

[bclover]

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.

 

[meierlde]

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.

 

[braumeister]

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

 

[emerytura]

Morris County, NJ: 2.3% property tax rate, sales tax 7%

 

[Mango1956]

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%

 

[RobbieB]

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.

 

[jazz4cash]

Md suburbs of DC
Market Value $1
Assessed Value 0.77
Taxes 0.014

 

[CyclingInvestor]

Same house in CA for 29 years. Just under 0.5% of zillow value.

 

[Another Reader]

27 years in the same house in CA and the total, including the garbage bill, is 0.55 percent of the Zillow value.

 

[mamadogmamacat]

0.9% of appraised value
6% sales tax (2% grocery food items)

 

[phil1ben]

I live in southeastern Pennsylvania. Property has not been re-assessed here since 1972 and does not get re-assessed on sale. As a result, assessments represent less than 10% of fair market value. My taxes are 15% of assessed value and about 1% of fair market value.

 

[daylatedollarshort]

California - .36% of market value due to Prop 13.

 

[pb4uski]

I wonder what the impact of Prop 13 has been on property values. Always got to be wary of those pesky unintended consequences.

At first blush it seems that Prop 13 would discourage people from selling, restricting supply and given the same demand prices would go up.

 

[John Galt III]

It sounds like you are paying way too much. In PA property taxes are complicated. There's county tax, school tax, and other taxes. Go to your county and township websites and find out what your tax rate should be, the mil rate that is. Then look at your tax bills and see what you are paying. There must be a mistake somewhere. In our township, we pay about 2.5% between township and school taxes.

An example: In 2010 we went through reassessment and realized our house was over assessed by 25%, as well as most of the houses. Our county used a faulty formula. We had our house appraised for tax purposes, submitted a report to the county, and had our taxes reduced significantly. The folks working at the assessor office also live here. They were amazingly cooperative. I remember lines out the door that year in the assessor's office due to the mistake. Some people I know didn't seem to care. We did. We spent a few hundreds and saved thousands.

You're right. My mistake. For some reason I had $4,500 in my mind, but I checked, and the taxes were only $3,700 last year. So.... the real percentages would be.... 7.5% of assessed value. And 2.3% of market value.

 

[Taxman59]

1.5% of assessed value which approximates FMV (based on the neighborhood and Zillow). Greensboro NC


Sent from my iPad using Early Retirement Forum

 

[daylatedollarshort]

I wonder what the impact of Prop 13 has been on property values. Always got to be wary of those pesky unintended consequences.

At first blush it seems that Prop 13 would discourage people from selling, restricting supply and given the same demand prices would go up.

It definitely has a lock in effect that keeps people from moving -

The Lock-in Effect of California's Proposition 13

Transaction costs are high to move and long time owners lose Prop 13 benefits except for narrow exception cases. The median home price in San Francisco is $1.1M, so a 6% realtor fee alone would be $66K.

 

[RetireAge50]

Seattle Suburb,1.33% Property Tax, 9.5% Sales Tax, 0% Income, $80 per vehicle tax

 

[Chris7]

In California, the base rate is 1 percent. With all the fees, parcel taxes, and other silliness it's a little over 1.5 percent. That does not include the garbage bill, which the City managed to attach to the property tax bill.

Our Garbage bill is separate, but if you end up being delinquent they can put a lean against your home.

Also in CA so the rest is the same as yours. Also note in CA, it can not go up by more than 3% a year. In our area, somewhere around 2010, 2011 they were "temporarily" lowered because of the drastic drop in property values. When a home is sold, a new starting appraisal value is begun.

cd :O)

 

[Accidental Retiree]

Our Garbage bill is separate, but if you end up being delinquent they can put a lean against your home.

Also in CA so the rest is the same as yours. Also note in CA, it can not go up by more than 3% a year. In our area, somewhere around 2010, 2011 they were "temporarily" lowered because of the drastic drop in property values. When a home is sold, a new starting appraisal value is begun.

cd :O)

It's a 2% a year cap.

 

[socca]

Sarasota County, Florida: 1.3% of assessed value
Hometown, suburb of Columbus, Ohio: 2.5% of assessed value - ouch!

 

[Chris7]

It's a 2% a year cap.

You are correct. I was thinking of our 3% growth limits where I live.

cd :O)

 

[tomb49]

Michigan assesses real property at 50% of true cash (appraised) value.

House is assessed at 108k with annual taxes about $2,800.
2.6% on assessed value or 1.4% of true cash value

 

[Teacher Terry]

Our property taxes on based on the year the home was built and does not change when sold. So for a 50 yo home that is worth 300k we pay 700.00/year. We paid more when we lived in a newer home. We completely re-did this home but it doesn't matter.

 

[gerntz]

Versus % of home value, as assessed or market value, isn't the real issue of taxes of any kind the percent of living expenses? Market/assessed value for the same house in various locations can be 5x, 10x different. So percent of value becomes rather meaningless imo.