What's your property tax?

[Carrie]

We pay $2260/yr on a home valued at about $230-$240k on about 1/4 acre.  Roughly half of that amount is city/school taxes. 
Hoping to move to a lower tax area at retirement -- right now the school district justifies the cost (best district in the state).

[Southern Stashian]

Central Florida representing.

1,500 sq ft villa valued @ $200K - $25k homestead exemption = $1,700 in taxes.

[Sparky]

700k house in town on 2.2 acres. About 5k/year in property taxes.

[nicknageli]

Central Florida representing.

1,500 sq ft villa valued @ $200K - $25k homestead exemption = $1,700 in taxes.

Florida doesn't have state income tax I believe I read.  It also appears to have fairly reasonable property tax.  How does the state bring in enough money?  Is the sales tax super high?  Corporate tax?  Curious.

[lisahi]

Houston, TX - $160k (before homestead), 2200 sqft. house on a small subdivision lot --> $3800 per year in property taxes.

In Laredo (before the homestead exemption) it would be $4000 on a $161,000, 1700 square foot house on a small lot.  After the exemption I pay $3500. It doesn't really make sense that Laredo has higher property taxes than Houston, but there you go.

[Capsu78]

Northwest Chicago Burbs:
1 acre land, 2900sq, Zillows at $455K
Annual property tax $10,500
Fancier towns in 3 different directions pay more than that.

We want this to be our retirement home, but that tax number may drive us away.

[Numbers Man]

Northwest Chicago Burbs:
1 acre land, 2900sq, Zillows at $455K
Annual property tax $10,500
Fancier towns in 3 different directions pay more than that.

We want this to be our retirement home, but that tax number may drive us away.

That's one of the reasons I left Chicagoland. $10k in property taxes plus another $1,620 in HOA in a 2,961 sq ft house. Currently I live in Scottsdale, Arizona in a 3,500 sq ft house and pay about $3,500 per year.

[smedleyb]

Upstate NY, $11,200 on a home assessed at $280,000.  Might be worth 20-25K more if I tried to sell it (privately, of course, and I've already lined up one potential buyer with the means and wherewithal to make it happen).

Perfect street, perfect location, but definitely a nagging albatross around the neck of my FI date.  Cutting useless spending and increasing income levels first before confronting the 800 pound gorilla in the budget, our housing costs.  Sadly the cheaper homes in town that suit our needs might be 50% less, but are taxed nearly 30% more per dollar of assessed value, in addition to being more out of the way for work and other obligations.

Throw in health insurance premiums 50% higher than what the Boss pays in Colorado, we're the furthest thing from a FI haven, that's for sure.  Retiring mortgage debt is tempting (to improve monthly cash flow), but at just over 6 figures, the crimp it puts in the cash reserves is not worth it for me (even if the numbers suggest earning 3.75% on 115K is better than earning practically zero). 

Reading what other's pay in lower taxes makes me wanna cry, right before I move. :)

[Cassie]

Also remember though that lower property taxes mean a lot less services.  Schools often are not properly funded, roads crappy, etc. I have lived in high tax states & now a low one but there are always trade offs.

[GoldenStache]

Arlington, VA
$1.006 per $100
Almost 6k a year

[Numbers Man]

Also remember though that lower property taxes mean a lot less services.  Schools often are not properly funded, roads crappy, etc. I have lived in high tax states & now a low one but there are always trade offs.

In the high tax states you are paying for incompetent state and local governments that are the ultimate spendypants which brings bloated pensions, salaries and poor customer service. I've been in both the low property tax state of Arizona and the high property tax state of Illinois and it is no contest. You get much more for your money in Arizona.

[soccerluvof4]

Central Florida representing.

1,500 sq ft villa valued @ $200K - $25k homestead exemption = $1,700 in taxes.

Florida doesn't have state income tax I believe I read.  It also appears to have fairly reasonable property tax.  How does the state bring in enough money?  Is the sales tax super high?  Corporate tax?  Curious.

tourism

[nicknageli]

Central Florida representing.

1,500 sq ft villa valued @ $200K - $25k homestead exemption = $1,700 in taxes.

Florida doesn't have state income tax I believe I read.  It also appears to have fairly reasonable property tax.  How does the state bring in enough money?  Is the sales tax super high?  Corporate tax?  Curious.

tourism

Ahhhh.  Duh!

[WageSlave]

In the high tax states you are paying for incompetent state and local governments that are the ultimate spendypants which brings bloated pensions, salaries and poor customer service. I've been in both the low property tax state of Arizona and the high property tax state of Illinois and it is no contest. You get much more for your money in Arizona.

Perhaps the services in Illinois were supposed to be funded from the proceeds of the sale of Obama's senate seat?  ;)

[hello867]

10K a year

[greaper007]

I live in a NW Burb of Denver (Broomfield).   
Boulder Valley Schools.   

Bought the house for $275,000 3 years ago, it's probably worth $325,000 now.
Don't quote me as it recently changed, but I think we're at $1670 a year now.

This is in a town with amazing amenities.   A rec center as good as the one at my college, great outdoor water park, library, biking paths, open spaces.   A huge police force.   And we're in one of the two top school districts in the area.   

I don't know how they do it.   We were paying $5000+ for a fixer upper on the freeway in CT, in a town that didn't have half the amenities (unless you consider granite curbs and snooty rich people amenities).

[greaper007]

Central Florida representing.

1,500 sq ft villa valued @ $200K - $25k homestead exemption = $1,700 in taxes.

Florida doesn't have state income tax I believe I read.  It also appears to have fairly reasonable property tax.  How does the state bring in enough money?  Is the sales tax super high?  Corporate tax?  Curious.

tourism

IIRC from my brief residency in the sunshine state, most of the money is coming from hotel taxes.

[hybrid]

What a great thread. At some point MMM discussed his conscious decision to live in Longmont rather than Denver, the COL being a big part of that.  There have been numerous threads about where to relocate to on the East Coast and the Richmond VA contingent always chimes in. One reason why is because the suburbs have lower taxes and higher quality schools.

If you live in a house valued at $800,000 your tax bill is going to be high regardless of the tax rate. When I read the threads from the folks in San Francisco, I give a big tip of the hat to how cool SF is, but dammmmmmmmn that's a steep price to pay for cool.

If you live in a $200,000 house your tax bill is going to be lower, but $200,000 goes a lot further in Richmond than San Francisco and the tax rates are lower to boot (this is the situation I am in).

I was one of the lucky ones, although we made a lot of silly financial decisions before going down a more frugal path, we picked a very affordable home in a very affordable (and pretty cool to boot) area several years ago.

[workathomedad]

My taxes on 200k property are $4,100 .. and I hate it!

[Fireman]

Would a Mod mind correcting the spelling/grammar errors in the title?  I enjoy reading this thread but the title makes me cringe a little bit :)

Edited to add the second sentence!

[Sofa King]

$3,300 per year.

[Sofa King]

https://forum.mrmoneymustache.com/off-topic/i-hate-paying-school-taxes-when-i-have-no-kids/

[kkbmustang]

Polk County, Oregon.  We used to get the federal welfare payments from timber sales on federal lands and, more recently, cash payments.  My house and forest land combined are assessed at around $350,000 and my taxes are under $900 per year.  About 30 acres of my property are in timber deferral, so I'll pay special taxes when I sell trees.

Property taxes in Oregon vary a lot.

[kkbmustang]

Would a Mod mind correcting the spelling/grammar errors in the title?  I enjoy reading this thread but the title makes me cringe a little bit :)

Edited to add the second sentence!

I tried. It picked it up in a couple places, not others. I think every single response must be edited.

[horsepoor]

Outside of city limits, property tax is much lower.  We pay around $1,200/year.  I think our most recent assessment was around $200K.  Hopefully we won't get annexed any time soon.

[fixer-upper]

Its about 2% here, but outside the city limits it drops to 1.5%. 

I'll be moving soon, as much for the decrease in government as the decrease in taxes.

[Fireman]

Would a Mod mind correcting the spelling/grammar errors in the title?  I enjoy reading this thread but the title makes me cringe a little bit :)

Edited to add the second sentence!

I tried. It picked it up in a couple places, not others. I think every single response must be edited.

Looks good from here, thanks!

[Jon_Snow]

About $96 a month in Vancouver B.C.

This is unheard of. Another reason why ER is close at hand for me.