Property Tax 2023

[Gumby]

Quote:

Originally Posted by ExPatKiwi Property Tax in CT is outrageous. In my town the mill rate is 30.89 per thousand (3.09%). So I'm paying $9,050 on a $293k assessed value home, plus add on the property tax for vehicles and it's over $10k/yr Tax credit is limited to $200 for low-income residents, so no credit.

Quote:

Originally Posted by VanWinkle You must really like it there!!

I also live in Connecticut, and I think it is worth every dollar I pay in taxes. (Currently $13,428 for the house and $1000 for the 3 cars; marginal income tax rate for us is 5.5%).

Some clarifying detail:

1. Property tax is based on assessed value, which is 70% of market value.

2. The mill rate varies by town (there are 169 of them), so you can choose to live in one of the towns with fewer services (e.g. - no paid fire department, no police) and, hence, a lower mill rate.

4. You can control the car taxes by not buying new, expensive ones (and living in a town with a lower mill rate).

[daylatedollarshort]

Our property taxes are about .3% of market value due to Prop 13.

[karen1972]

NC - Property tax up 23% and not even complaining.

New construction YE 2018, they have been playing catch up, I expect one more big jump as we are still paying $500 less than identical units built in 2019 and 2020.

10 years ago this area was all large farms, no real infrastructure. The city is doing a good job of making the builders pay for a lot of the infrastructure. All of the approvals come usually with something
- Build a pumping station
- provide land and build a city park
- Pay for turn lanes and traffic lights
- Pay for the new Fire station

Plus the extra they have to pay in for low income housing and school improvement

At least I see where the tax dollars are going in our community.

[sengsational]

Quote:

Originally Posted by Unpaintedhuffhines My understanding is we are one of the lucky few states that allow us to protest property taxes, so we use a company to do that for us every year.

I guess this company challenges the valuation? How did you find the outfit that helps you do that? I need to do that, I think, because my valuation is out of whack with respect to similar homes in the neighborhood.

[Unpaintedhuffhines]

Quote:

Originally Posted by sengsational I guess this company challenges the valuation? How did you find the outfit that helps you do that? I need to do that, I think, because my valuation is out of whack with respect to similar homes in the neighborhood.

We use ProTax (no affiliation or interest in them other than as a customer).

They automatically protest the valuation of our property. Virtually every year they get a reduction in the valuation, and for that, we pay them a % of our savings. We have them on retainer so they automatically protest every year. They use comps from the neighborhood and whatever other magic they bring to the table. Not sure how much it has saved us but it’s probably thousands.

[copyright1997reloaded]

Quote:

Originally Posted by W2R Mine has gone up 7.7%, from $1,970 to $2,121. The assessed value is the same so that must all be due to increases in millage. This doesn't make me happy! On the other hand, we are satisfied with the services, maintenance, etc. that we get for our property tax dollar in this suburb. So, I shouldn't complain. The value per property tax dollar is much worse in the city, IMO.

What I would give for a tax bill of $2,121!

Upstate NY here, 2800 sq. ft. house, 2021 taxes were over $9800. No sewer, no water, no garbage pickup. Higher in 22 and likely will be higher again in 23.

To add to that, I have some land (45 acres about 25 minutes away), hilly, no house, that's another $2k/year.

To make up for that NY has low income taxes....ok, so that isn't true, as my average tax rate (not marginal) is somewhere between 5.5 and 6%. Well, at least we have low sales taxes...ok, so that isn't true.

The above is part of the reason I will be leaving w/i a year. Getting those numbers down a lot will go a long way.

[W2R]

Quote:

Originally Posted by copyright1997reloaded What I would give for a tax bill of $2,121! Upstate NY here, 2800 sq. ft. house, 2021 taxes were over $9800. No sewer, no water, no garbage pickup. Higher in 22 and likely will be higher again in 23. To add to that, I have some land (45 acres about 25 minutes away), hilly, no house, that's another $2k/year. To make up for that NY has low income taxes....ok, so that isn't true, as my average tax rate (not marginal) is somewhere between 5.5 and 6%. Well, at least we have low sales taxes...ok, so that isn't true. The above is part of the reason I will be leaving w/i a year. Getting those numbers down a lot will go a long way.

That's awful! I sure don't blame you for thinking about moving to a community with lower taxes. Your home is almost twice the size of mine, but even so the property taxes you are paying would give me nightmares.

[1242Vintage]

Our property taxes are relatively low at $6k a year. The base is set at the year of purchase and annual increase are limited to 2% a year plus any local voter approved bonds.

We have lived in our home for 25 years and home values here, like almost everywhere else, have gone through the roof. My new neighbors are easily paying triple the property taxes that we do.

[aaronc879]

My new bill is up 11.5%. Ouch. It was already too high. Over $3K for house I would struggle to sell for $125K. That's almost 25% of my total spending for the year.

[Souschef]

In California, we have Prop 13. It was the voters' reaction to higher and higher tax bills which were taxing many on fixed income out of their long time homes.
I am embarrassed to tell you that my tax bill is about $500. This is because in my county we could carry forward our valuation to our new home.

[Trailwalker]

Our property tax assessment increased 101k. Our property taxes went down from $5700 to $5300. I was worried but it turned out all right with the lowering of the mill rate.

[braumeister]

My assessed valuation went up about 23% this year, and property taxes (county and city combined) went up almost 18%. Can't complain too much about that, and we get outstanding service in return, including a truly wonderful library system.

[old medic]

Ours went up due to reevaluation last year... to almost $600

[FLSUnFIRE]

Mine went down by about 1% so basically held steady from last year. High volume of sales on new and existing inventory (many by new residents) have allowed millage rates to go down holding taxes relatively steady (along with homestead exemption).