Anyone care to share their story of low property taxes?
I have always been interested in property taxes at a young age because my father struggled to pay the property taxes on our primary home growing up. He bought his house for 145K in 1989. I'm not sure what the property taxes were at the time. Maybe $2000-$3000/year. He had to sell in 2007 because the taxes were $11,900/year. He ended up getting 450K, but probably put 150K into the house over the 18 years that he lived there.
Since that experience, the topic of property taxes have been close to my heart. High property taxes also make it difficult for rentals to cash flow. Does anyone care to share their stories of low property taxes?
Please give your best estimate of what you think it's worth (not county assessed value), your property taxes and if you get a discount for primary residence.
My examples are below
Fort Myers, FL (Single Family Home)
Current Market Value = $205K
Current Property Taxes = $1,333/year
I get a discount for it being my primary house, which I will lose next year because I just moved. I imagine that it will go up to around $2,000/year.
Fort Collins, CO (Single Family Home)
Current Market Value = $310K
Current Property Taxes = $1,700/year
No Discount
Kapaa, HI (Single Family Home)
Friend's House
Current Market Value = $450K
Current Property Taxes = $850/year
Primary Residence Discount