Property Taxes and Hazard Insurance

[gayl]

I'm wondering if those with what appear to be really high property taxes in other states have more land? I only have 1/3 acre

 

[Koolau]

Reside In
Illinois

Current Estimated Home value $600,000

Property Taxes
$14,674

Hazard Insurance
$1,430

Interesting. Our condo in Hawaii is worth about $600K but our property taxes are just about 1/10 yours (about $1500).

Don't know what the insurance is as it's included in HOA dues. I'm guessing it's pretty hefty. I'm sure I can find out, but can't do anything about it, so I won't bother. YMMV

 

[pb4uski]

I'm wondering if those with what appear to be really high property taxes in other states have more land? I only have 1/3 acre

Not in my case, Vermont property is only 0.7 acres.... it is just that property tax rates are high, in part due to lack of economies of scale.

 

[Chicago_FIRE]

My $8682 tax in IL is only for a ~2000 sq. ft. home on a 75' x 125' lot...

 

[68bucks]

Wow I'm feeling kind of depressed reading all these numbers. I knew our taxes were high but...

NW Ohio 2500+ SF house 20 acres land

Taxes approx $12,000/ yr
Insurance approx $1200 with a $1 MM umbrella.

We have lived here 5 years and the taxes were < $7,000 when we moved in!

 

[Maidensong]

Missouri Ozarks, small rural town
$220K Home value
$980 property taxes
$2100 insurance (We had a roof claim due to wind damage in 2019 so the premium was jacked up. Should be closer to $1500 without that gust up.)

 

[Venturer]

N Ga. or Chattlanta 1/2 between the two cities. Ins=$580.prop tax 1750. auto tax is paid upfront when bought now so then tags are $20. year. But camper tag is $300. year and depreciates yearly.

 

[Golden sunsets]

I'm wondering if those with what appear to be really high property taxes in other states have more land? I only have 1/3 acre

Not in my case. $7,500 taxes after homestead and veteran's exemptions for a .9 acre parcel and 3,000 SF house in Southern ME, worth about $700,000. Without the exemptions taxes would be $8,000.

 

[jkern]

Reside in: SF Bay Area

Home value: $1.4M

Property Tax: $6,410

Home Insurance: $1,140

 

[MarieIG]

I'm wondering if those with what appear to be really high property taxes in other states have more land? I only have 1/3 acre

Not this one: 75ft x 100 ft. land; house 1759 sq. ft; 3 bd; 1 & 1/2 bath.

 

[cyber888]

The "How low can you go" thread got me thinking. I'm particularly curious about the states that have no income tax. My friend who lives in FL says he pays a ridiculous amount for hazard insurance.

If you own a home, and would like to share, what do you pay for property taxes and hazard insurance?

Please don't use your assessed value. I realize we all have different deductibles on hazard but just wanted to get a picture of different states. Let us know if you live near the coast as that will skew the hazard insurance.

Reside In
NC

Current Estimated Home value $300,000

Property Taxes
$2,612

Hazard Insurance
$715

Thanks

Kevin

Who’s your insurer ? What’s your deductible. Im paying too high

 

[MrsHaloFIRE]

Texas. Urban.

2200 sq ft single family. Fraction of an acre

475k value

Approx 12k prop taxes

Approx 2k homeowners

All swags

 

[11522914]

Who’s your insurer ? What’s your deductible. Im paying too high

Electric Insurance Company. Have auto and home.

Excellent customer service, very reasonable rates and over the years I've had several claims, all handled professionally and efficiently.

Deductible is $2,500 with 2% wind and hail.

 

[meierlde]

I'm wondering if those with what appear to be really high property taxes in other states have more land? I only have 1/3 acre

One big difference is if the house is inside city limits, that can make a 25% difference in overall property taxes. Of course at least in Tx if outside the city you do have to pay for trash removal which is like 1100 a year or so. May also have fire district and emergency district taxes (on the order of 100 to 200 a year).

 

[REWahoo]

Of course at least in Tx if outside the city you do have to pay for trash removal which is like 1100 a year or so.

Wow, that seems really steep. We live out in the county and pay $280/yr for twice a week pick up.

 

[Retch The Grate]

SF Bay Area as well (Daly City)
Home Value: $1.76M
Property Tax: $6104.92 (am guessing this will go up when the County sees the current valuation of the house? We just bought it in December so not sure when they update it...)
Hazard Insurance: $953
Earthquake Insurance: $1213
$2M Umbrella: $326

 

[anothercog]

SF Bay Area as well (Daly City)
Home Value: $1.76M
Property Tax: $6104.92 (am guessing this will go up when the County sees the current valuation of the house? We just bought it in December so not sure when they update it...)
Hazard Insurance: $953
Earthquake Insurance: $1213
$2M Umbrella: $326

Yeah, you’ll be getting a supplemental tax bill soon enough. Expect it to be around $18k/year.

 

[Souschef]

Ventura County CA
Property tax $400
H/O Insurance $600

 

[socca]

SW FL home market value: ~$350k
> ~4 miles from the coast
Property tax: ~$3k
Homeowners insurance: ~$1.3k
> 10% hurricane deductible; calculated from replacement cost
> premium increased 20% year-over-year; I expect it will continue to increase in the future

Folks who dream of moving to FL for "lower taxes" sometimes forget the potential "tax" on your quality of life if you have to relocate for a year or more while your home is rebuilt after a hurricane. I suggest moving to central TX instead.

 

[meierlde]

SW FL home market value: ~$350k
> ~4 miles from the coast
Property tax: ~$3k
Homeowners insurance: ~$1.3k
> 10% hurricane deductible; calculated from replacement cost
> premium increased 20% year-over-year; I expect it will continue to increase in the future

Folks who dream of moving to FL for "lower taxes" sometimes forget the potential "tax" on your quality of life if you have to relocate for a year or more while your home is rebuilt after a hurricane. I suggest moving to central TX instead.

Again it likely depends on where in Florida you are talking about. Consider lake city where I 10 and I 75 intersect it is about as far from coasts as possible in Fl and only about 60 miles from Jacksonville. Being at least 60 miles from the coast if you buy out of a flood plain damage risk is less.And yes this far north in Fl id does freeze.

 

[Sand101]

10 miles outside of Huntsville, Alabama

Home value: $450,000 (3900 sq. ft. with pool)
Property taxes: $0 due to my wife being disabled.
$1300 had I had to pay the taxes.
Homeowner's Insurance: $2,200 per year

Birmingham, about the same home value
Property taxes: $2500 (expensive for this state - next county over would be ~$900)
Insurance: $1,500

Given what I've seen in here the insurance is expensive here. I guess tornadoes or I'm just paying too much.