OUCH - property taxes

[crosses]

Our property tax bill comes to about $1500 a year and seems to keep going up. Are others finding their property tax bills increasing. Is $1500 high or do others pay more?

[Tree0164]

Our property taxes are $2900 a year. It is added in with our monthly mortgage payment so we only really feel the bit when they redo our escrow account each year.

[mjrube94]

Oh my gosh...I'm not sure where you're living, but in Northern New Jersey, the property tax capital of the world, mine just went up from $7734 to $8348/year. And the whole town is in the process of being reassessed, so either next year (or hopefully the year after), they'll be going up even more. This is the first quarter I'm paying directly instead of through my mortgage, so I'm really feeling it...

[34saving]

Ours are about $1900 and we have a pretty average house. I don't mind too much because the public schools are really good. Oh, they go up every year too . . .

[cicy33]

Ours is also almost $1500 this year and when we moved in three years ago it was only $900 or so. it is getting ridiculous. it is almost worth renting!

[BAGAGT1]

Try $5000 a year for a Townhouse.

[altyfc]

I forget what I pay exactly, but it's in the region of £100 - £200 per month. Only thing is, I'm having to pay it on two properties, as well as the rates on my business premises.

Aaron

[CRFSaver]

That's what I loved about California. There was a statutory limit in how much they could tax you in real estate. It was called proposition 13. Purchase price was your assessed. They could not charge more then 1% on assessed (unless you voted in a special tax for libraries and what have you). Your assessed was only allowed to go up 2% a year (exceptions for major renovations and improvements).

Politicians have been trying to change it for years and the voters wont even think about even minor changed to it. Never give a politician free reign to tax what they want. Tax bills where I live now are doubling every year. It will get to a point where people can't afford it anymore...

[jmjj215]

I'm still renting so I don't get hit with Property taxes. We're moving to Texas though, where I hear they're pretty high. Anyone here from Texas paying pretty big property taxes?

[gakline]

Originally Posted by BAGAGT1

Try $5000 a year for a Townhouse.

All right, you've got me beat. I'm at $2800 for a townhouse in Naperville. It went up about $100 from last year. I'm not looking forward to next month.

[cicy33]

Originally Posted by BAGAGT1

Try $5000 a year for a Townhouse.

That is outrageous! I am going to be grateful for my measly $1500! Do you get some chocolate or something with that heart stopping bill? Seriously what are the advantages to having a house with a lower tax bill and a townhouse?

[gakline]

I do like my maintenance free exterior of my townhouse. The association takes care of it all. My insurance is much lower.

I also couldn't have afforded a house in my area (Naperville's #3 in the nation now). In order to find a house, I would have been in a bad neighborhood, facing a 1.5-2 hr commute or lived in a loft with 500 sqft.

[Fern]

I beat most of you. In CT with a small house and 1.5 acres. i'm paying about $6500 and yes, it hurts. I plan to sell and get a condo in 1-2 years. Love the lifestyle, not the bill.

[Fern]

The advantrage of having a house vs lower tax bill and condo:
1. Privacy, privacy, privacy
2. Peace and quiet

[DivaJen]

We're in CA, and last year we paid about $2900.

[dwilliams12]

Its amazing how much the taxes vary! I Haven't recieved a full tax bill yet due to new construction, but we are estimating around $8,000 plus or minus some (most likely plus). And to think we have the lowest tax % in Kane county, IL?!?!?!?!?

[gakline]

Originally Posted by dwilliams12

Its amazing how much the taxes vary! I Haven't recieved a full tax bill yet due to new construction, but we are estimating around $8,000 plus or minus some (most likely plus). And to think we have the lowest tax % in Kane county, IL?!?!?!?!?

Where at in Kane? I'm in DuPage.

[singinjeannie]

We pay $2450 in School Real Estate, $670 in Local Real Estate and $720 in County Real Estate Taxes. They get us three times for the same property. I hate real estate taxes.

-Jean

[Bluezy]

Thank you all for reaffirming my decision to stay a renter.

[singinjeannie]

In the US you can deduct the interest you pay on your mortgage from your income before you pay your income taxes. So many people thing this is a great reason to own a home, but the measly sum you save on federal income taxes is easily eaten up by local Real Estate taxes.

Interesting thought, eh?


Jean