State Taxes and Property Taxes

brownmonster

Man of Great Wisdom
Here in Wisconsin we are considered a fairly high taxed state. Wife and I paid 6 grand in State income tax last year. That's $500 a month gone. Property taxes are high compared to the low values of the property. My house is assesed at (don't laugh) $150,000. My property taxes are $3500 a year. For the sake of conversation how do other areas compare? BM
 

HazMatMan

Well-Known Member
Here in Wisconsin we are considered a fairly high taxed state. Wife and I paid 6 grand in State income tax last year. That's $500 a month gone. Property taxes are high compared to the low values of the property. My house is assesed at (don't laugh) $150,000. My property taxes are $3500 a year. For the sake of conversation how do other areas compare? BM

There is a 5 bedroom house in my area going for 139K taxes I think fell in the 3K range.. average home price here is about 130K to 150K taxes average i'd say about 1600 to 4000 depending...
 

scratch

Least Best Moderator
Staff member
I live in the suburbs, about 20 miles out of downtown Atlanta and my shack appraises about 150K too. I did my taxes a few weeks ago, $2755 in State and $966 in County taxes. I also noticed my Federal Tax Rate went up almost by two per cent. Brownmonster, your Local taxes are way too high, maybe thats why we have a lot of Northern accents down here!
 
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I GOT ONE MORE

Well-Known Member
Wow, I thought California was bad... now I feel better.

I bought my home here in San Diego for about 95k back in 1988 and pay 1.1% in property tax annually. That dollar amount increases 2% each year under a prop that passed many years ago. Currently, I'm paying about $1200.

I paid just under 2k in state tax.....

not so bad, in comparison....
 

sendagain

Well-Known Member
Wow, I thought California was bad... now I feel better.

I bought my home here in San Diego for about 95k back in 1988 and pay 1.1% in property tax annually. That dollar amount increases 2% each year under a prop that passed many years ago. Currently, I'm paying about $1200.

I paid just under 2k in state tax.....

not so bad, in comparison....

With the huge run-up in home prices, property tax revenues should be skyrocketing here in California. Everytime a home sells it is appraised at the new price, and many older people moving out of these homes allow the state to get a huge increase. That's not enough for politicians though: They want to get around those tax laws passed to help seniors and rake it in from everyone. Believe me people, we are taxed enough, but still they want more.
 

moreluck

golden ticket member
Our property taxes are high in S.CAL, but not the highest. I rationalize that when I go out my door I mostly have clear blue skies and moderate temps. year round. The dividers in the streets are planted fully with trees (lots of palms), shrubs and flowers. There is beauty. That's what my taxes pay for !! Believe me it boosts your mood every day.

When I lived in Utah a lot of the center dividers were just dirt with beer cans thrown in. Not pretty......but I did like looking at the Wasatch Mtns. so close by.

The state that surprised me with low property taxes is Hawaii. Yeah, the houses are expensive, but low property taxes. We have a small house on Oahu and when my hubby told me what the taxes were my response was..."Is that all?"
 

local804

Well-Known Member
My home in Long Island NY $495,000 value(cheap compared to many many others) taxes $8500 per year. Cost of living is rated high compared to the other states. Too bad us drivers at UPS make the same money no matter where we live.
 

raceanoncr

Well-Known Member
Here in Midwest, across the river from ONE of the most taxed states...mine is tax assessed at 128...owned for 5 yrs...made improvements...recently appraised at 200...taxed at 2500
 

scratch

Least Best Moderator
Staff member
My home in Long Island NY $495,000 value(cheap compared to many many others) taxes $8500 per year. Cost of living is rated high compared to the other states. Too bad us drivers at UPS make the same money no matter where we live.

You make an excellent point, local804. I'm shocked when I look at housing prices around the country. It cost a lot just to live in New York, California, or Hawaii. It makes a difference on the location you live, it cost more to live on the water or downtown in a major city. And some states, like Florida, don't have a State Tax at all. It certainly pays to do your homework if you are contemplating a move to a different part of the country.
 

moreluck

golden ticket member
Scratch...doing homework...so true! You have to check every tax, not just property taxes. Each state has hidden taxes you don't find out about 'til you move there. So always ask ???'s

For instance, don't know if it's still true, but Florida , no state tax, used to tax your portfolio yearly. People flock to Nevada for no tax and end up paying some of the highest sales tax around and that affects everything you buy every single day.

Naive me when we moved to Utah I went to license 2 vehicles with a checkbook with only about $100 in it. I thought, like Ohio at the time, that the licenses for the cars would be $15 each. They explained to me about a personal property tax payed each year on your vehicles......Yikes! Needless to say I had to return another day with more $$$.

You really have to weigh it all and be informed.
 

wildgoose

WILDGOOSE
You make an excellent point, local804. I'm shocked when I look at housing prices around the country. It cost a lot just to live in New York, California, or Hawaii. It makes a difference on the location you live, it cost more to live on the water or downtown in a major city. And some states, like Florida, don't have a State Tax at all. It certainly pays to do your homework if you are contemplating a move to a different part of the country.
Yeah but in South Florida you better bring your wallet to buy a home in a decent neighborhood you better have more than $400k and at 2.2% tax rate its $8k + a year and hurricane insurance is around $4-$5k a year if you can get it? Allstate and Statefarm are running from this state as we speak ! The cost for Sunshine and temperant weather. The other option for insurance is the state runned Jua and its double what state farm was ? $250k buys you a neighborhood with drugs and theft. Better have bars on the windows. Other than that its a wonderfun place to live !
 

toonertoo

Most Awesome Dog
Staff member
I live in the sticks. House is 116,000. Actually its a summer cottage, that we made a year round home. Ohio, taxes are 1000. per yr and I was complaining, geez. My other home on Lake erie I bought for 17k in 1973, and it is now appraised at 60, taxes are 400. Guess I will be quiet......
 

moreluck

golden ticket member
Revised Internal Revenue Code...




Seeking to re-coup lost revenue the Government has as announced the following

The only thing that the Internal Revenue has not yet taxed is the male
penis. This is due to the fact that 40% of the time it is
hanging around unemployed, 30% of the time it is hard up, 20%
of the time it is pissed off and 10% of the time it is in the
hole. On top of that, it has two dependents and they are both
nuts.

Effective January 1st, 2009 your penis will be taxed according
to size. The brackets are as follows:

10"-12" Luxury Tax..........$75.00
8"-10" Pole Tax...............$60.00
5"-8" Privilege Tax...........$50.00
4"-5" Nuisance Tax.......... $15.00

Males exceeding 12" must file under capital gains. Anyone under
4" is eligible for a refund. PLEASE DO NOT ASK FOR AN EXTENSION!!!
 

Big Babooba

Well-Known Member
Revised Internal Revenue Code...




Seeking to re-coup lost revenue the Government has as announced the following

The only thing that the Internal Revenue has not yet taxed is the male
penis. This is due to the fact that 40% of the time it is
hanging around unemployed, 30% of the time it is hard up, 20%
of the time it is pissed off and 10% of the time it is in the
hole. On top of that, it has two dependents and they are both
nuts.

Effective January 1st, 2009 your penis will be taxed according
to size. The brackets are as follows:

10"-12" Luxury Tax..........$75.00
8"-10" Pole Tax...............$60.00
5"-8" Privilege Tax...........$50.00
4"-5" Nuisance Tax.......... $15.00

Males exceeding 12" must file under capital gains. Anyone under
4" is eligible for a refund. PLEASE DO NOT ASK FOR AN EXTENSION!!!
What is the capital gains tax rate? I'll be paying a bundle.:surprised:
 

rod

Retired 19 years
Appraised at--- $289,000
New home- 5 yrs old
5 acres
365 ft. of Mississippi River frontage
Property Taxes- $2,700 ----down from $2,950 the year before
state taxes--$2,092 (total for both me and the wife)


(not complaining)---(tried that once and the property taxes went up)
 
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