Van-Guard23
Recycles dryer sheets
- Joined
- May 10, 2013
- Messages
- 124
Property tax in Hawaii is one of the lowest in the nation, if not the lowest. We paid just over $2,200 on a home assessed at $726k...or about 0.30%
My property taxes are $4500 per year and always going up. Assessed value of my house is $48,800. Market value is $160,000 I estimate. So.... based on my assessed value I am paying 9.3 % per year, every year forever. Based on my market value, I am paying only 2.8 %. I'm in Pa. Sales tax 6 %. I get free concerts at a nearby community center. Maybe the property taxes are paying for that.
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.
For Texas I found a link with the average taxes paid per county (the link to each county provides the house value as well as the tax paid and percent of assessed value):Texas Property Taxes By County - 2016
With this you can get some idea of the variation. Other sites can show the home price variation (largely due to land prices).
But in any case it clear that if you are retired and can live anywhere you can control property taxes from 1% up to 2+% by picking where to live . (It should be noted that the lowest taxes are in small towns in the middle of nowhere- pop 3 to 5k, but then auto insurance is in general lower there also as there are fewer folks to run into you). Big cities tend to have the highest taxes due to property values and higher taxes.
As hinted above I suspect this is true no matter what state you live in (Ct seems to be about the same)
The base rate is 1% of purchase price. It doesn't rise as house value rises.
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.
$6700 on an assessed value of $1.03 million. Property taxes in Calgary are some of the lowest in Canada.
BUT, if they don't get you one way, they'll get you another. Our sales tax is 9.75%.