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Old 02-01-2021, 09:10 AM   #41
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Join Date: Aug 2014
Posts: 138
Northern CT

Home Value (according to Zillow): $331,000
Property Tax: $6,686
Homeowner's Ins: $845 (with $1k ded) plus $372 for $2 mil umbrella
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Old 02-01-2021, 09:19 AM   #42
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Join Date: Aug 2004
Location: Laurel, MD
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Quote:
Originally Posted by Music Lover View Post
Percentage leaves out important information. House insurance would be different for a $400k building on a $100k lot compared to a $200k building on a $300 lot. There's no need to insure land.
That's true, I agree most posts don't include the value of the lot vs. improvement and most insurance policies AFAIK are based on FMV which includes but does not specify the land value.
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Old 02-01-2021, 09:31 AM   #43
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Join Date: Nov 2016
Location: Washington State
Posts: 1,788
SW Washington State
1456 sq/ft home on 1.95 acres
Tax value: $390K (Zillow Estimate $490K)
Property Taxes: $5000
Home Insurance:$1000
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Old 02-01-2021, 09:42 AM   #44
Recycles dryer sheets
 
Join Date: Jan 2011
Location: Hilton Head Island
Posts: 155
Hilton Head Island, SC 1200 feet from the ocean

Home Value - $700,000
Property Taxes - $3915 .56%
Homeowners Ins - $3935 .56%
Flood Ins - $785 .11%
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Old 02-01-2021, 09:56 AM   #45
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Join Date: Apr 2013
Location: Gosport, IN
Posts: 952
Reside In
Indiana

Current Estimated Home value $300,000

Property Taxes
$891

Hazard Insurance
$1,189 with $1,000 deductible
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Old 02-01-2021, 10:21 AM   #46
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Join Date: Jun 2017
Location: Western NC
Posts: 2,740
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Originally Posted by CardsFan View Post
OK, I'll play.

Current Townhome/condo value: $200k
Taxes: Under $2k/yr
HO Insurance: $300/yr

HOA fees cover major replacement insurance
Similar value for my townhome, but they are freestanding units (3 units per building)

so homeowner's ($1,200 w/ $1,000 deductible) is required as replacement insurance,

property taxes ~$2,400 (would be a little over half that outside city limits)
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Old 02-01-2021, 11:14 AM   #47
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Location: Boise
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Quote:
Originally Posted by jazz4cash View Post
That's true, I agree most posts don't include the value of the lot vs. improvement and most insurance policies AFAIK are based on FMV which includes but does not specify the land value.
My homeowner's policy excludes land value and ignores market value. It's based on rebuild cost estimate which is in turn based on square footage, number of bathrooms, finishes, etc. Plus how far away the nearest hydrant and fire department station is (both pretty close in my case).
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Old 02-01-2021, 11:33 AM   #48
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Location: the prairies
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Quote:
Originally Posted by SecondCor521 View Post
My homeowner's policy excludes land value and ignores market value. It's based on rebuild cost estimate which is in turn based on square footage, number of bathrooms, finishes, etc. Plus how far away the nearest hydrant and fire department station is (both pretty close in my case).
That's probably how most policies work.
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Old 02-01-2021, 11:42 AM   #49
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Join Date: May 2007
Posts: 557
Reside in: Maryland
Estimated Home Value: $500K
Property Taxes: $5K
Homeowner's Insurance: $1100 with $1K deductible
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Old 02-01-2021, 12:22 PM   #50
Recycles dryer sheets
 
Join Date: Oct 2015
Location: Bozeman
Posts: 143
Bozeman, MT
County's value = $580k
Current value = $850k
County taxes = $5,257
Insurance = $583 for a $5k deductible. I've got 7 policies all with the same carrier, so this rate has a lot of discounts built in.

The next element in this discussion is the age of the home. In my experience, a home that's 20 years old has an insurance cost that's almost double of a home that's 5 years old. My home was built in 2015 and didn't use any materials that would cause a higher insurance premium. (i.e. siding/roof of something that would burn)
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Old 02-01-2021, 12:30 PM   #51
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Join Date: Aug 2006
Posts: 180
Reside in: Central CT
Estimated Home Value: $250K
Property Taxes: $5,800K
Homeowner's Insurance: $1100
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Old 02-04-2021, 03:46 AM   #52
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Join Date: Jun 2004
Location: Diablo Valley (SF Bay Area)
Posts: 2,208
SF Bay Area home value = 910K
Property tax = 3288
Homeowner's Insurance = 1215
Earthquake insurance = 2648
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Old 02-04-2021, 07:07 AM   #53
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Posts: 2,762
Silly Valley current home value = $1.6M
Property tax on indexed 1989 value plus special assessments = $9,100
HO insurance = $1,100. Expecting a big increase this year for wildfire risk. Deductible was $2k, might have gone up.
Skipped the EQ insurance, not convinced the money will be there.
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Old 02-04-2021, 07:38 AM   #54
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Join Date: May 2007
Posts: 772
Home that I just sold last week:
Market Value $300k, Insurance $770, Prop Tax $466

Home that I am buying (close in a few days):
Market Value $465k, Insurance $960, Prop Tax $854

Both are on a few acres in Alabama near Lake Martin. The land value of the home I'm buying is approx $100k so the insured amount is around $365k.
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Old 02-04-2021, 07:49 AM   #55
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Quote:
Originally Posted by athena53 View Post

I live in a suburb of Kansas City, on the Missouri side. House worth about $310,000, property taxes $5,200, homeowners insurance $2,400. We're in Tornado Alley so that bumps it up a bit.

Also live in this area -

$340k ish value
$4,500 property tax
$2200 homeowners ($1k deduct) - though I did get $15k roof and gutters 100% replaced due to hail storm this year
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Old 02-04-2021, 08:17 AM   #56
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Posts: 2,210
Southern Maine - Ocean front community - 1 mile from ocean

$700,000 +/- Market Value
Homeowner's Ins $950. $6,000 deductible
Property Taxes $7,500
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Old 02-04-2021, 11:20 AM   #57
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Join Date: Jul 2007
Location: St. Louis
Posts: 1,382
Here in MO

Home Value: 225k
Property Taxes: 2.2k
Homeowners Insurance: $900

Most years my income is low so I pay very little income taxes.
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Old 02-04-2021, 12:33 PM   #58
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Join Date: Jan 2007
Location: New Orleans
Posts: 45,132
Property value (rounded to nearest thousand):
Zillow $336,000
Realtor.com $331,000
Tax assessor $240,000

Property tax with homestead exemption:
$1,956

Insurance:
Homeowners $480
Wind and Hail (=hurricane, state funded) $1,980
Flood (Zone X) $516
TOTAL of these three: $2,976

The insurance rates here are the disadvantage to living inside the New Orleans soupbowl. I don't care. This is my home and there is no place else I'd rather live. Not gonna budge.
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Old 02-04-2021, 12:52 PM   #59
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Join Date: Nov 2004
Location: SF Bay Area
Posts: 161
Quote:
Originally Posted by gayl View Post
SF Bay Area home value = 910K
Property tax = 3288
Homeowner's Insurance = 1215
Earthquake insurance = 2648
Wow. I assume you purchased your place for under $300k. What year did you buy?
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Old 02-05-2021, 04:57 PM   #60
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Join Date: Jan 2013
Location: El Cerrito
Posts: 7
SF Bay Area

Home Value: $750k
Property Tax: $5,100
Property Insurance: $400
Earthquake Insurance: $1,000
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