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2012-05-25 7:58 AM

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Member
603
500100
Chicago
Subject: Property Taxes and Fees.
So after my thread on my trouble with building permits I was wondering what everyone in CoJ thought about their area's property taxes and fees, permits, anything related to money going to your local community. Do you think you pay too much, not enough? Do you believe that your money is being used properly for the services you receive? Where I live I believe that my property taxes are too high. I understand the need for them but I personally pay $6000 a year and our home is only worth a little over $200000. We do have great schools and one of the best Fire Departments in the country but in comparison to my sister in law who lives two suburbs over in a GREAT area she only pays $8000 on a half million dollar home. So CoJ what are you thoughts on your local taxes?


2012-05-25 8:13 AM
in reply to: #4228574

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Champion
7558
500020005002525
Albuquerque, New Mexico
Subject: RE: Property Taxes and Fees.
I don't know that I'd say "too high" but I do get frustrated with how some of the money is spent.  We will probably appeal our assessment this year as it hasn't racheted down nearly as much as it racheted up. 
2012-05-25 8:16 AM
in reply to: #4228574

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Champion
14571
50005000200020005002525
the alamo city, Texas
Subject: RE: Property Taxes and Fees.

i have very low taxes where i live, which is nice because housing prices are still high.  BUT we have pretty high payroll and sales tax, so i'm sure it evens out.  my property taxes are less than $1,000 per year on a $170,000 townhouse.

i also pay a whopping $60/year property tax for my 10 year old celica.  my husband's 2 year old rav4 is about $100/year.



Edited by mehaner 2012-05-25 8:32 AM
2012-05-25 8:25 AM
in reply to: #4228574

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Champion
16151
50005000500010001002525
Checkin' out the podium girls
Subject: RE: Property Taxes and Fees.
Mine are OK, but I feel the town spends beyond our mandates and what we can afford. They're cramming phase 2 of a school remodel down our throats when they know state funds are dried up. They don't listen to us and we don't get to vote directly on the budget, but do on bonding. They are clever about getting what they want one way or the other.

Our house is worth (retail, no assesment) $300K and we pay $4K/year. We also pay proerty taxes on cars and that's about $1200 for us since we own 3 nice cars.
2012-05-25 8:48 AM
in reply to: #4228644

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Champion
10020
50005000
, Minnesota
Bronze member
Subject: RE: Property Taxes and Fees.

I guess ours is kind of expensive ($4283 this year, assessed value is $259,240). 

I am satisfied with how we're taken care of.   All of the regular stuff is fine, there's always a ton of road construction and we don't have toll roads (I never understand that about Chicago - why do the roads suck so much?).  I also make a lot of use out of the extra things like parks, libraries, etc.  I don't have kids, but I hear the schools are good.  

Fortunately the things I couldn't give a rip about, like the new Twins stadium, was paid for with sales tax (I believe). 

I've never heard about property tax on cars.  So, that's in addition to license and registration fees?

2012-05-25 8:53 AM
in reply to: #4228574

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Elite
4564
200020005002525
Boise
Subject: RE: Property Taxes and Fees.
My house is valued at 150ish according to the county. Total taxes on it are about $1600. That's not too bad I don't think.


2012-05-25 8:56 AM
in reply to: #4228574

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Pro
6767
500010005001001002525
the Alabama part of Pennsylvania
Subject: RE: Property Taxes and Fees.

I'm satisfied with what I get for what I pay. The local school was just named the best in the state, and one of the top in the country according to the Washington Post. Meanwhile one district over is one of the worst in the state, if not the nation; is unable to pay bills and is closing magnet schools, one of the middle schools, firing hundreds of people, and in general is a complete wreck.

We don't pay taxes on personal property like cars, but I believe my mother does in Virginia.

2012-05-25 8:56 AM
in reply to: #4228574

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Expert
1544
100050025
Alexandria, MN
Subject: RE: Property Taxes and Fees.

I just happen to have my property tax statement in front of me.  Ours went up $500 dollars this year to $3644 on an assessed value of $344k.  Mostly that's because we're building a brand new high school which passed in the vote this past year.  That's the big issue around here right now, because it's really brought to the front the people who don't like paying taxes for something they don't use.  All the old folks are up in arms about it, whereas most of the younger parents are fine with it because we all have kids that will use the new school since the old one was falling apart.  One extreme case I know of is a guy here in town that owns tons of property, both commercial and residential lots, and he said the high school is costing him over $20,000/month in extra taxes on all his property.  Ouch.

2012-05-25 8:57 AM
in reply to: #4228707

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Pro
5011
5000
Twin Cities
Subject: RE: Property Taxes and Fees.

I've never heard about property tax on cars.  So, that's in addition to license and registration fees?

We pay a "wheelage tax" in Washington Co. for vehicles kept on the property. (Ramsey and Hennepin do not, AFAIK)

2012-05-25 9:22 AM
in reply to: #4228574

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Master
1480
1000100100100100252525
Southwest Chicago 'burbs
Subject: RE: Property Taxes and Fees.
Property taxes are killing me... my $210k townhome yields $6400 in taxes for the government.  We won't even talk about how I have a house that I can't sell (luckily I found renters) that's taking another $7200 out of my pocket.  UGH.
2012-05-25 9:28 AM
in reply to: #4228574

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Expert
1557
10005002525
Austin, TX
Subject: RE: Property Taxes and Fees.
My property taxes come out to about 1.75% of home appraised value.  But we have no state income tax and no property taxes on vehicles.  Sales tax is 8.25%.  Can't really complain about taxes in texas.  Now, complaining about how gov't spends our tax dollars is another story.


2012-05-25 11:21 AM
in reply to: #4228574

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Veteran
213
100100
Colorado Springs
Subject: RE: Property Taxes and Fees.
Grew up in N IL and the family is still there.  taxes there (Lake County) are outrageous.  I certainly cannot complain about the taxes here in COS.  I remember the first time I had the taxes done (dad and brother are CPA's)  and sent the yearly tax receipt my dad called and asked where the receipts for the other 11 months are.  My parents house is worth about 3x what ours is buy they pay over 10x more in taxes. 
2012-05-25 11:47 AM
in reply to: #4228574

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Veteran
721
500100100
Naptown, IN
Subject: RE: Property Taxes and Fees.
Indiana passed a law capping property taxes at 1% of the assessed home value.  So, I can't really complain about the amount of the tax.  Where and how the money gets spent is another story.  We do pay additional "property" taxes on our cars each year (included with license plate renewals), and sales tax is at 7% (however, if you live in central Indiana, you do pay an extra 2% sales tax at restaurants to fund Lucas Oil Stadium).
2012-05-25 12:27 PM
in reply to: #4228574

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Veteran
298
100100252525
West Henrietta, NY
Subject: RE: Property Taxes and Fees.

I live in one of the expensive states, my total property tax is around $6500 on a house valued at $250k, in addition we have a high income tax rate and 8% sales tax.

My biggest issue with the property tax is that it's very biased towards the town/county/school.  They set the value of your house, this is supposed to be based on sales of comparable homes in your area.  The Assessor then makes adjustments for extras or downside to your home (though they never find a downside) that seem fairly arbitrary.  For example, my wrap around porch seems to be far more valuable than a house with just a front porch, though there aren't any comps to compare too, I doubt someone would pay much more for my house than one with just a regular front porch.  Of course we can challenge this assessment, however, the board is comprised of three members all of which are hired by the town.  It's not surprising that they took the side of the town Assessor over any homeowner that appealed.  The next step would be to go to small claims court, which of course is an added stop and I'm not sure would get you enough of a reduction to cover the cost of all the specialized appraisals you would need because just comparing to comps doesn't help with you have the additional items.

Our property taxes are split between the town, county and school.  Most of which seem to be fairly good with the money and services though there are things that I find kind of strange.  Once such thing would be that the school provides transportation to all students, not just those that live close to school and could walk, but those that live in the district that go to private schools as well.  They can ride the bus to the High School and then transfer to another bus which will drive them any where in the county to their private school.

Chris.

2012-05-25 1:16 PM
in reply to: #4228574

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Extreme Veteran
3177
20001000100252525
Subject: RE: Property Taxes and Fees.
my wife and I just bought our house last October so not sure about all of the taxes yet on it. What I can find though shows about 3000 in taxes on our 220,000 dollar purchase for the last several years. Not bad yet but we will have to wait and see what happens in the future! (I live on a lake so once the market starts to come back, given my location, the appraised value could get pretty high again which would, of course, increase our taxes)
2012-05-25 1:18 PM
in reply to: #4228574

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Expert
1830
100050010010010025
Subject: RE: Property Taxes and Fees.
Ours is expensive, about 3.3% of appraised value.  Nearly $10k/year.


2012-05-26 10:10 PM
in reply to: #4228574

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Expert
1456
10001001001001002525
Central New Jersey
Subject: RE: Property Taxes and Fees.
Move to NJ (NOT) our house is worth about 400K (what I *think* we could reasonable get - not what appraised at) we have 1 1/2 acres. Property taxes alone are almost $10,000...
2012-05-29 1:06 PM
in reply to: #4228574

Expert
1233
100010010025
Subject: RE: Property Taxes and Fees.
When I lived in Cook County in the Chicago area the county government use to boast about not raising taxes. What they were saying is that they didn't raise the tax rate, but every year our property would be re-assessed, and thus we were paying more taxes every year. I now see the benefit of this philosophy. To get further revenue the government has to be doing something to increase your property value: desirable location not screwed up by commercial development or irrational zoning, strong school system, safe community environment, libraries, civic amenities, etc. While I now live in a reasonable property tax environment, the local government has done nothing to increase or even maintain property values. While we gained significantly from the sale of our house in Chicago, we will be lucky to ever break even on our current home in Indiana. During the annual arguments on property tax revenue needs to fund the county, I am always discussing the 'Chicago' model of property value enhancement to gain additional revenue.



2012-05-30 12:51 PM
in reply to: #4228574

Master
1946
100050010010010010025
Memphis, TN
Subject: RE: Property Taxes and Fees.
I don't think many people think their taxes are to low... my local government is pretty good at handling the money so I think they are spending it in the right places and on things that make this community desirable to live in.
2012-05-30 1:38 PM
in reply to: #4233584

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Member
603
500100
Chicago
Subject: RE: Property Taxes and Fees.

vonschnapps - 2012-05-29 1:06 PM When I lived in Cook County in the Chicago area the county government use to boast about not raising taxes. What they were saying is that they didn't raise the tax rate, but every year our property would be re-assessed, and thus we were paying more taxes every year. I now see the benefit of this philosophy. To get further revenue the government has to be doing something to increase your property value: desirable location not screwed up by commercial development or irrational zoning, strong school system, safe community environment, libraries, civic amenities, etc. While I now live in a reasonable property tax environment, the local government has done nothing to increase or even maintain property values. While we gained significantly from the sale of our house in Chicago, we will be lucky to ever break even on our current home in Indiana. During the annual arguments on property tax revenue needs to fund the county, I am always discussing the 'Chicago' model of property value enhancement to gain additional revenue.

 

I noticed that our property gets re-assessed every year sometimes it goes up and sometimes it goes down. One of the things I have trouble with is that they can assess my property $20,000 below what we paid and our property taxes will still raise. The next year it will get assessed at $10,000 more than what we paid and they will still increase.So regardless of what my property is assessed at we usually still pay more. Now if your property is assessed at lower than what you paid shouldnt your property taxes fall? Even just a little instead of steadily increasing. Is this how they maintain property values? By fluctuating their assessments of property?

2012-05-30 3:25 PM
in reply to: #4230845

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Pro
6767
500010005001001002525
the Alabama part of Pennsylvania
Subject: RE: Property Taxes and Fees.

wwlani - 2012-05-26 11:10 PM Move to NJ (NOT) our house is worth about 400K (what I *think* we could reasonable get - not what appraised at) we have 1 1/2 acres. Property taxes alone are almost $10,000...

But what are you getting for your money? Your tax rate sounds similar to what I pay, extrapolating my home's assessed worth and what I pay, I am paying about $500 less than what you pay. I get a safe community, good great school district; there is a full calender of community events during the year (including my personal favorite - the parade and related festivities on the 4th of July, that gives me free entertainment for my houseguests at our annual party). When my wife and daughter had CD's stolen out of their cars from the driveway one night, the cops showed up, fingerprinted the cars, and actually caught the perps, who have been paying restitution in dribs and drabs since. In contrast, when my wife's car was broken into in broad daylight and the GPS stolen in the next town over while she was at work, the police would not even bother coming out to get fingerprints, and advised her if she wanted to file a claim to do so on-line, since the police force is too thinly stretched to deal with property crimes. 

If I got a high crime rate, high drop out rate, and poor municipal services, I would complain. But I think I get my money's worth.



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