CPI vs. Items purchased

[Cut-Throat]

CT, I would be interested in what city.
In Robbinsdale (for others, it is also a suburb close to Minneapolis) my property taxes for 2007 just went up by about 12%. And from hearing news reports, most of MN locals have had large increases over the last few years while our governor has not been allowing any increase in state taxes (just fees ).

I live in Plymouth. Did you not have a large decrease in your property tax in the 2001 to 2002 tax year? - Most taxes decreased state wide that year - mine did about 25%

- Even with small increases, In 2007 I'm still paying less than I did in 2000!

Also what amount of taxes are you paying? - Mine next year are $4538 - they were $4949 in the year 2000! What were yours in those years?

 

[Martha]

I live in Plymouth. Did you not have a large decrease in your property tax in the 2001 to 2002 tax year? - Most taxes decreased state wide that year - mine did abut 25%

- Even with small increases, In 2007 I'm still paying less than I did in 2000!

Also what amount of taxes are you paying? - Mine next year are $4538 - they were $4949 in the year 2000! What were yours in those years?

Our experience has been similar. Our property taxes dropped significantly several years ago. Since then they have been increasing slowly but still not as high as they were in the late 1990s and 2000.

 

[Cut-Throat]

Our experience has been similar. Our property taxes dropped significantly several years ago. Since then they have been increasing slowly but still not as high as they were in the late 1990s and 2000.

We have a lot of anecdotal Evidence here! - I like to see facts.

I was talking to another guy last weekend from Wisconsin who was complaining that his property taxes had gone up 20% in one year, while inflation was only running 3%. He went to his city hall and they explained to him that his property had not been revalued for 7 years, so it only represented an increase of a little over 2.5% per year. He basically said 'Never mind'. :

Everyone here seems to remember the increases but not the decreases or static amounts.

 

[mathjak107]

we had an 18% increase in property taxes 3 years ago in nyc. i just saw putnam county ny is getting a 20% increase .

dont forget in most areas if you already own the house for a while its a different rate than a new buyer. most people were paying 1-1/2 to 2% of value in pennsylvania where we looked. if your buying today they told us figure about 3% of the purchase price

 

[azanon]

It also shows the importance of staying healthy has on your budget.

Err... well for those without health insurance. Mine cost $88.99 per two weeks for my family plan whether i don't go in at all or whether i have open heart surgery. OK, granted, i'm not counting the $20 dollar deductible. Being that its a federal plan, my premium wouldn't go up because I used it.

 

[samclem]

Err... well for those without health insurance. Mine cost $88.99 per two weeks for my family plan whether i don't go in at all or whether i have open heart surgery. OK, granted, i'm not counting the $20 dollar deductible.

Well, I wouldn't be too smug. Don'tcha think that those escalating medical costs are going to find their way into your premiums? Or, indirectly, into lower levels of other compensation for your work? Yep.

 

[Cut-Throat]

Err... well for those without health insurance. Mine cost $88.99 per two weeks for my family plan whether i don't go in at all or whether i have open heart surgery. OK, granted, i'm not counting the $20 dollar deductible.

o

You could probably get a much cheaper policy if you opted for a catastrophic policy with a $5K or $10k Deductable. Then your budget would definitely notice if you spent any time in the hospital!

 

[Spanky]

The chart tells me that I should stay healthy and send my kids to inexpensive colleges (a full ride scholarship is even better).

 

[Zathras]

CT - I think that is the biggest difference. I just moved in in 2002 so I didn't see the decrease.
I do have to say my property taxes (about $3100 next year) are much lower than yours which I suspect is more a case of Robbinsdale vs Plymouth. Robbinsdale also underwent the reconstruction of hwy 100, so I am not sure if that is spilling over into the prop tax hikes we are getting.

In any event, good to hear that over the long term the taxes have not increased all that quickly. Guess I am just catching up to you and Martha

 

[Spanky]

The chart does not show insurance premium that has been increasing by more than 10% per year.

 

[FinanceDude]

Err... well for those without health insurance. Mine cost $88.99 per two weeks for my family plan whether i don't go in at all or whether i have open heart surgery. OK, granted, i'm not counting the $20 dollar deductible. Being that its a federal plan, my premium wouldn't go up because I used it.

Your cost is heavily subsidized.........most people do not have that luxury............

 

[Cut-Throat]

CT - I think that is the biggest difference. I just moved in in 2002 so I didn't see the decrease.
I do have to say my property taxes (about $3100 next year) are much lower than yours which I suspect is more a case of Robbinsdale vs Plymouth. Robbinsdale also underwent the reconstruction of hwy 100, so I am not sure if that is spilling over into the prop tax hikes we are getting.

In any event, good to hear that over the long term the taxes have not increased all that quickly. Guess I am just catching up to you and Martha

It looks like our state has a Billion dollar surplus and they are talking about a property tax rebate (I think they have to - It's a law!) - Make sure you deduct this from your increase.

 

[Spanky]

It looks like our state has a Billion dollar surplus and they are talking about a property tax rebate (I think they have to - It's a law!) - Make sure you deduct this from your increase.

Would it better to use the surplus toward education? The tuition of U of Minnesota (almost $9.3K) tops the list of all public colleges. The Minnesota state universities (no name schools) charge more than $6,000 for tuition which is almost the same as that of U of Wisconsin, Madison.

 

[Cut-Throat]

Would it better to use the surplus toward education? The tuition of U of Minnesota (almost $9.3K) tops the list of all public colleges. The Minnesota state universities (no name schools) charge more than $6,000 for tuition which is almost the same as that of U of Wisconsin, Madison.

Notice, I said talking about a rebate - Looks like property tax breaks are at the top of the adgenda.

- College tuition has risen faster than medical insurance over the last 20 years? - I understand the technogoical advances of medicine and the corrupt Insurance company executives, where is the money going for the U of M? - I don't see a lot of tech advances in education, so where is all the money going? - IOW - who is lining their pockets now that was not when I was going to the U 30 years ago?