Property Tax Rates by state!

[mksj]

Also missing one other important point, which is how/when the property tax is determined and the year to year change. So in California with prop 13 if you bought a house years ago or at a low in the housing pricing market, the rate of change over time is much less. In other states the rate can change dramatically year to year and over time as the property value increases. Also all the bonds, that keep on accumulating, when I lived in the bay area every year they added another so something like 30-40% increase over the base.

 

[Janderso]

taxes are reduced by 50% at age 65 on your primary residence

Sweet!!

 

[Reddinr]

I think you have to look at the whole tax picture. Income tax, sales tax, property tax and estate tax at least. In WA, our property taxes are fairly high but there is no income tax. My property tax is about $11K now. It has more than doubled since I bought it. 10 Acres, house, shop. Not a mansion.

Would love to have that 50% discount at 65 thing that CO has.

 

[Janderso]

the highest town is Hartford at 7.4% of the assessed value

Holy cow!

 

[Janderso]

One thing that confounds rate comparisons, how aggressive your state/county is on assessment value.

It seems the tax rates in each state vary widely not only in percentage but by county and area.
Craziness.

 

[Janderso]

I think you have to look at the whole tax picture. Income tax, sales tax, property tax and estate tax at least. In WA, our property taxes are fairly high but there is no income tax. My property tax is about $11K now. It has more than doubled since I bought it. 10 Acres, house, shop. Not a mansion.

Would love to have that 50% discount at 65 thing that CO has.

Good point about no income tax!!
Motor vehicle registrations, sales tax etc.
Here we pay about a 5% state income tax rate. Our sales tax jumped by a point in our city limits. That put our sales tax to 8.50%,, I think.

 

[Janderso]

Would love to have that 50% discount at 65 thing that CO has.

+1

 

[CJ5Dave]

The city owes the county some tax money here. The new solar farm has not paid theirs as well. The county says it’s not appropriate to bill them. Did not mind sending ours.

 

[Just for fun]

In Chelan county we pay 1% property tax, 8.3% sales tax. And they keep raising our assessments every year. Even though our place is getting older and needs paint.

They do offer a property tax discount for seniors but between the wide and I and the money we draw out of our investments (you know, for tools and toys) we make too much to qualify.

 

[Smithdoor]

I like to check property values when we travel. We are heading to South Carolina in the Spring, just for fun.

I noticed SC has a property tax rate of .52%. !!! Not bad.
Maryland .99%
New Jersey 2.23%
California 1%

A $500,000 appraised value home =

SC -$2,600
Maryland $4,950
New Jersey $11,150
California $5,000

For those who have a mortgage and an impound account, the New Jersey property would add $929 a month to your payment!!

My wife and I are very fortunate in that we have no debt. It's hard enough to cough up the $3,400 a year for property tax.
We lucked out when we lost our home in Paradise, the county allowed us to adopt our Paradise property tax plus 10%. Otherwise we would be over $5,000 a year.

Yes we pay $4.25 for a gallon of gas where other states are now paying less than $3.00.

The point of this thread, I think it would be interesting to discuss the related costs of living in the states of our choice and why.
In our case, our kids, grandchildren, friends and extended family live in California for the most part. And the weather is pretty darn good.

This is for the state of New York!!

Property Tax Rates for Tax Year 2024​

• Class 1 - 20.085%
  
• Class 2 - 12.502%
  
• Class 3 - 12.094%
  
• Class 4 - 10.592%

Anybody know about the class system??

In California I am paying $1,4000 a year.

Dave