People that have moved do you really feel at home

Ronstar said:
A bill recently filed at the Illinois Statehouse seeks to end property taxes for qualified taxpayers who live in and pay taxes on a residential home for at least 30 years.

This has been introduced in an effort to stop the mass exodus from Illinois.

We’ve lived in our current house and paid taxes on it for 31 years. Even if the bill became law, I wouldn’t let a zero dollar real estate tax bill influence our decision on where to move.
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If I were on the fence about staying or leaving a state, tax policy just might be the difference but YMMV.
 
Koolau said:
I think you do make your own luck to a certain extent. We have been willing to adapt to our new homeland and do not insist that people should "do things" like we did them "back home." We embrace being a minority because everyone is a minority. No place is free of prejudice but most people here deal with their prejudices rather than embrace them. We're described as a "melting pot" and within limits, that is very true. A smile goes a very long way here. YMMV
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Hawaiian is very much a fusion culture, and we also live in a fusion culture here in the Rio Grande Valley. We are very much minorities, as it’s 90%+ hispanic descent. But it’s definitely not Mexico. It’s instead an interesting blend of the two cultures, and very unique.
 
audreyh1 said:
Hawaiian is very much a fusion culture, and we also live in a fusion culture here in the Rio Grande Valley. We are very much minorities, as it’s 90%+ hispanic descent. But it’s definitely not Mexico. It’s instead an interesting blend of the two cultures, and very unique.
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Yeah, we have no majorities - only minorities. It's great.
 
Ronstar said:
A bill recently filed at the Illinois Statehouse seeks to end property taxes for qualified taxpayers who live in and pay taxes on a residential home for at least 30 years.

This has been introduced in an effort to stop the mass exodus from Illinois.

We’ve lived in our current house and paid taxes on it for 31 years. Even if the bill became law, I wouldn’t let a zero dollar real estate tax bill influence our decision on where to move.
Click to expand...
Wow is this what you have to deal with there? Sounds like deserve a break after 31 years. Is everyones home assessed the same or do recent purchases have higher tax bills?
"A recent analysis from WalletHub found that Illinois residents paid the second-highest property taxes in the nation, behind New Jersey. The average residential property taxes paid on a home stood at 2.07%, with the typical homeowner paying $5,189 a year on real estate taxes, based on a median home value of $250,500."
 
2HOTinPHX said:
Wow is this what you have to deal with there? Sounds like deserve a break after 31 years. Is everyones home assessed the same or do recent purchases have higher tax bills?
"A recent analysis from WalletHub found that Illinois residents paid the second-highest property taxes in the nation, behind New Jersey. The average residential property taxes paid on a home stood at 2.07%, with the typical homeowner paying $5,189 a year on real estate taxes, based on a median home value of $250,500."
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All I know is that moving to the Islands cut my real estate tax bill by 2/3. What's wrong with THAT picture?
 
2HOTinPHX said:
......The average residential property taxes paid on a home stood at 2.07%, with the typical homeowner paying $5,189 a year on real estate taxes, based on a median home value of $250,500."
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In Connecticut, your property tax rate depends on which town you live in. My current annual property tax is $15,661
 
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Gumby said:
In Connecticut, your property tax rate depends on which town you live in. My current annual property tax is $15,661
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Did you accidentally add an extra digit in that number?
 
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Koolau said:
All I know is that moving to the Islands cut my real estate tax bill by 2/3. What's wrong with THAT picture?
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Nothing wrong with that all. It was a major consideration when we moved from California to Arizona 20 years ago. We were already paying 2400.00 a year in property taxes for a 60 year old 2 bed 1 bath home. We wanted something a little bigger 10 years later and because that was going to be 500k plus we started looking elsewhere. We came to Arizona for the half off home prices as many did. Our property taxes are still less than we last paid in California 20 years later at just around 2k for a much newer home in a newer community.
The California home has changed hands a few times now and property taxes are now 11,000 a year yikes!
But penny wise pound foolish in our case. We saved some money in property taxes but that little California home is now worth double our Arizona house. Who knew our little 2 bed home we paid 180k (crazy high amount to us at the time) would hit almost 1 million in 2024. If only our crystal ball was working at the time....
 
Sometimes, one really should move. My 85 yo DF needs to be somewhere else, but moving is considerably harder at that age than at even 80 would have been. And moving from his condo to an institutional setting in his city might as well be to another state.
 
2HOTinPHX said:
Wow is this what you have to deal with there? Sounds like deserve a break after 31 years. Is everyones home assessed the same or do recent purchases have higher tax bills?
"A recent analysis from WalletHub found that Illinois residents paid the second-highest property taxes in the nation, behind New Jersey. The average residential property taxes paid on a home stood at 2.07%, with the typical homeowner paying $5,189 a year on real estate taxes, based on a median home value of $250,500."
Click to expand...

In our area, taxes are based on the assessed valuation of the real estate, and the taxing rates of the taxing bodies in which the real estate exists, and the amount of mega taxed industrial and commercial entities in the taxing district.

We do not live within a municipality, so we do not pay taxes for city infrastructure. Our only taxing districts are the local junior college, fire department, library district, township road, township, and local K-12 school district.

We have a 4,000 sf walkout basement home, that the county assessed at a fair cash value of $500,750. (luckily their assessment is only for the 2,000 main level.)

Tax calculation is 1/3 fair cash value ($166,900 for us) minus $6k owner occupied exemption minus $5k senior citizen exemption to arrive at a net taxable value of $155,900. The sum of the tax rates of the taxing bodies is 5.34894 ( per $100 of net taxable value)

So our tax bill for last year was $8339. (5.34894 x $155,900 / 100). School district tax itself was $5290.

So we can get increases by 2 different ways. 1 is the yearly reassessment of home value. 2 is the increase in tax rates.

So we pay 1.67% of assessed value. We are probably lower than most since we have a highly assessed and taxed nuclear power plant in our area.

I looked up taxes for a house in a nearby town. Assessed value of $540,120. Tax is $14,305 or 2.7% of assessed value.
 
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Home is where your gigantic pile of junk is. :)

We will downsize and rent in 1.5 years when kid 3 graduates from high school.

Less is more for us and I'm ready to be done with mowing and snowblowing. Property tax on a $475k house is $6,500. :-(

Every scenario is different. Might we decide to upsize some day? Certainly.
 
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Markola said:
Sometimes, one really should move. My 85 yo DF needs to be somewhere else, but moving is considerably harder at that age than at even 80 would have been. And moving from his condo to an institutional setting in his city might as well be to another state.
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I did a full house move at 80 years old with no real help except moving company moving the big stuff. Next time, I am throwing everything out (give away, sell, trash) and buying new stuff at the new (AND SMALLER) place.
 
2HOTinPHX said:
Nothing wrong with that all. It was a major consideration when we moved from California to Arizona 20 years ago. We were already paying 2400.00 a year in property taxes for a 60 year old 2 bed 1 bath home. We wanted something a little bigger 10 years later and because that was going to be 500k plus we started looking elsewhere. We came to Arizona for the half off home prices as many did. Our property taxes are still less than we last paid in California 20 years later at just around 2k for a much newer home in a newer community.
The California home has changed hands a few times now and property taxes are now 11,000 a year yikes!
But penny wise pound foolish in our case. We saved some money in property taxes but that little California home is now worth double our Arizona house. Who knew our little 2 bed home we paid 180k (crazy high amount to us at the time) would hit almost 1 million in 2024. If only our crystal ball was working at the time....
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Our "stake" in Paradise went from $100K in mid 80s to 700K now (different property but same prices at the time) and we're STILL not paying $2K in RE taxes. If only taxes were the only issue for living in Paradise.
 
Ronstar said:
In our area, taxes are based on the assessed valuation of the real estate, and the taxing rates of the taxing bodies in which the real estate exists, and the amount of mega taxed industrial and commercial entities in the taxing district.

We do not live within a municipality, so we do not pay taxes for city infrastructure. Our only taxing districts are the local junior college, fire department, library district, township road, township, and local K-12 school district.

We have a 4,000 sf walkout basement home, that the county assessed at a fair cash value of $500,750. (luckily their assessment is only for the 2,000 main level.)

Tax calculation is 1/3 fair cash value ($166,900 for us) minus $6k owner occupied exemption minus $5k senior citizen exemption to arrive at a net taxable value of $155,900. The sum of the tax rates of the taxing bodies is 5.34894 ( per $100 of net taxable value)

So our tax bill for last year was $8339. (5.34894 x $155,900 / 100). School district tax itself was $5290.

So we can get increases by 2 different ways. 1 is the yearly reassessment of home value. 2 is the increase in tax rates.

So we pay 1.67% of assessed value. We are probably lower than most since we have a highly assessed and taxed nuclear power plant in our area.

I looked up taxes for a house in a nearby town. Assessed value of $540,120. Tax is $14,305 or 2.7% of assessed value.
Click to expand...
Thankfully, tourists pay a lot of our taxes. Without that, it would be even more difficult to survive the Paradise Tax.
 
aja8888 said:
I did a full house move at 80 years old with no real help except moving company moving the big stuff. Next time, I am throwing everything out (give away, sell, trash) and buying new stuff at the new (AND SMALLER) place.
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Yeah, last move was in 2 suitcases each. Very liberating.
 
I'm in the process of selling my property in Louisiana and what this state and all the others I've lived in which were Wisconsin, Indiana, Michigan, & Louisiana charge for property taxes and Insurance is ridiculous. My next house will be on wheels and I'll just rent a lot from someone who pays the stupid taxes either HOA property taxes and or state tax but my residendency will be in a no state income tax state as that is the biggest wasted tax ever as they say it goes to schools and roads I disagree go to those states and they have some of the worst roads in the country and just not their highways.
 
aja8888 said:
That's my plan for the next move! :cool: (I'm tired of hauling this stuff around for near 50 years!)
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Me too. Of course my plan is for my next move to be to Heaven. I don't think they let you take anything there.

I heard about one guy who insisted on taking all his gold bars with him to Heaven. St. Peter looked at him funny and asked "Why did you bring those paving stones with you?"
 
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