Property Taxes and Hazard Insurance

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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
 
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Reside In
Illinois

Current Estimated Home value $600,000

Property Taxes
$14,674

Hazard Insurance
$1,430
 
I'll play.

I live right on the coast of Connecticut. Real property tax on my house is $12,425 per year. Homeowner's insurance is $3,069 per year, with a $2000 deductible. Zillow says my house is worth $691,000.


Other potentially relevant information:

Property tax mill rates vary by town. Top CT income tax rate is 6.99% (>$1 million if MFJ) Ours is currently 5.5%. Sales tax is 6.35% We also pay property taxes on our cars at the same rate we pay on our house, which runs me about $1,000 per year
 
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The house market value is $260-$280k ish.

Property taxes $1200.

Hazard insurance was $1100 last time. I'm a bit puzzled by that since there is a fire hydrant literally in the front yard and the fire department is at most two miles away. Probably time for us to go insurance shopping.

Edit to add: Deductible is $1500.
 
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Gumby said:
I'll play.

I live right on the coast of Connecticut. Real property tax on my house is $12,425 per year. Homeowner's insurance is $3,069 per year, with a $2000 deductible. Zillow says my house is worth $691,000.


Other potentially relevant information:

Property tax mill rates vary by town. Top CT income tax rate is 6.99% (>$1 million if MFJ) Ours is currently 5.5%. Sales tax is 6.35% We also pay property taxes on our cars at the same rate we pay on our house, which runs me about $1,000 per year
Click to expand...
I also pay property tax on the cars.

The first half of my life I lived in FL.

I was shocked when I realized I had to pay property tax on the cars.

But the reduction in auto insurance costs more than made up property tax.
 
Near Microsoft east Redmond WA, county on 7 acres
Property taxes $11,000 (no income taxes, high sales and estate taxes)
HO Policy $1600
Market Value >$1.6M
 
What exactly is meant by "hazard insurance"? I've never heard the term before.
 
Happyras said:
Near Microsoft east Redmond WA, county on 7 acres
Property taxes $11,000 (no income taxes, high sales and estate taxes)
HO Policy $1600
Market Value >$1.6M
Click to expand...
Only $1,600 hazard on 1.6mm value:confused:

I might need to shop around as I haven't done that in awhile.
 
RetireeRobert said:
The $685 looks good, but also consider I use a $5000 deductible to bring down my premium! I view insurance as "catastrophe" coverage, not as "pay me for every little thing that goes wrong" coverage.
Click to expand...
I have a $2,000 deductible but I completely agree with your view.

I'll have to find out how much I can save by increasing the deductible. I can't imagine it would be much as my value is 300k. But I won't know until I ask.

Thanks
 
In northern Kentucky, my homeowner's insurance is similar to the OP's at less than 0.3% of the home's value. But my property taxes are fairly high at nearly 1.4%.
 
South Central Minnesota:

Home value $150,000.00
Property taxes $1400.00
Homeowners insurance $1000.00

*I have a 5k deductible & an umbrella policy that's another $250.00 per year*
 
Our tiny 900 sq ft retirement house in lake community in northetn NJ, about 40 miles west of NYC.

Value approx 330K.

RE taxes 5,900

Homeowners insurance 600
 
WI (just outside of Milwaukee)

Home: $370-400k
Homeowners: $730
Prop. Taxes: $9400

(Perhaps I should note that I live in a high-services, good-school-district location.)
 
Primary home: PA
Est. Value: $560,000
Property taxes: $7,979
HO insurance: $2,583

Second home: NJ (2 blocks from beach)
Est. Value $630,000
Property taxes: $6,533
HO insurance: $1,651
Flood insurance: $905
 
OK, I'll play.

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

HOA fees cover major replacement insurance
 
market value is $375k'ish. prop taxes are roughly $7k, homeowners insurance is $1600. chicago western burbs.
 
Our house is assessed at $338,000. Last year we paid $1200 for homeowner's insurance and real estate taxes were $2,200. This year our real estate tax dollar amount will be 26% more due to a 17% increase in assessment and a 8% increase in the tax rate.

We also have the displeasure of paying personal property taxes (levied on boats, airplanes, and automobiles) at a yearly rate of 4.88% of the blue book value. There is a tax relief for automobiles only where you only have to pay 50% of the personal property tax up to a blue book value of $20,000, and the full tax rate on any value over $20k. This is a county tax and it varies by Virginia county.
 
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