Property Tax Rates by state!

[EricB]

Here in IL property taxes are decided local goverments and school boards and are base on 1/3 of the assessed values of the property. I think my cumulative rate last year was about 8.6%. Sales taxes are set by local governments and the state and vary depending on what is purchased. Gas is taxed at about 20 cents/gal by the state over the federal tax rate.

No personal property taxes are allowed in the state constitution.

I can't keep it straight but I've still got to eat.

Eric

 

[Windy city]

Its all about "total tax burden".

Per 2022:

 

[woodchucker]

Each town set's their own tax rate. But I would say that's close to the average rate. We pay approx that rate, and we then pay for garbage, and other necessities, while other towns provide that. Schools are what drive the most taxes here. the school budget is voted on, and taxes are a reflection. Some of these school boards are nuts. They want to add tons of things, without regard to need or cost. I could go on and on, but I'm watching the Bills/Steelers game... so you get a break from my diatribe.

edit; oh, and I won't get into how NJ, and NY pay way more into the Federal system than they get back, and some states (some of those low states) get tons of federal money while paying in practically nothing.

 

[tjb]

We are heading to South Carolina in the Spring, just for fun.

Where will you be in SC? That's right up the road from us.

 

[ozzie46]

Sweet!!

You must have lived in the property for at least 10 years and can only claim one residence.
Ron

 

[woodchucker]

I really can't complain. On two 15 acre parcels with two homes I paid $1800 last year. It will be higher this year due to the crazy real estate market. Our taxes are reduced by 50% at age 65 on your primary residence, and you know to ask for it. If you live in Steamboat proper it's another story completely. Taxes there are extremely high, but that seems to be the norm for tourist towns. Mike


Routt County, Colorado Property Tax
[Go To Different County]
Routt Personal Property Tax Rate
$1,517.00
Avg. 0.36% of home value
Yearly median tax in Routt County

The median property tax in Routt County, Colorado is $1,517 per year for a home worth the median value of $422,300. Routt County collects, on average, 0.36% of a property's assessed fair market value as property tax.

Routt County has one of the highest median property taxes in the United States, and is ranked 760th of the 3143 counties in order of median property taxes.

I don't think that's high at all. that's cheap. Not sure where you are getting the highest median property tax in the US from.

 

[woodchucker]

New York is very expensive . My taxes and everything else up there are a hair under $2000 for 45 acres . My buddy payed next to nothing as he was over 65 and was a resident . New York LOVES out of state property owners . South Carolina is pretty cheap unless you're on the coast . Myrtle Beach and Surfside houses/ condos are out of this world . We were bidding on a second row house at Surfside Beach 10 years ago before I lost my job . The monthly taxes , insurance and HOA fees were $1200 a month . Inland I'm sure are a lot less . You can still purchase very nice places in towns such as Conway and be an hour from the beach . We havent missed our vacation at Surfside in 49 years now . The tax bill from New York is the first piece of mail I receive every new year . They collect their $$$ like clockwork . Md and Pa are about the same when adding things up . Many Marylanders have migrated to Pa over the years for cheaper taxes only to find out Pa taxes everything . It equals out pretty much . My 2 places here are about $6300 between the 2 properties .

My wife ran the numbers, because all our friends were planning on moving for lower taxes when they retired. But when she ran all the numbers you may pay less in one tax, but more in others, and a lot of it just becomes a wash. And how am I going to get all this equipment up the stairs and moved, and what kind of shop will I have?

So a few did move away, only to tell us that there are some real gotchas in other states that you don't realized until you get there.

 

[Nesse1]

My (California) home has an assessed value of $520k (what I paid (thank you Prop 13)), and my property taxes are $7350/year. And the government here cries a river over the travesty that Prop 13 has created.

 

[Beckerkumm]

" Tax Burden " is a complicated estimate that has little to do with what individuals would pay state by state. Each individual needs to analyze their own tax costs based on their situation. You also need to include user fees, licensing, health care costs if not on medicare and access to the health care system. At the end of the day, the decision to move is usually done for non tax reasons unless avoiding a state inheritance tax and that affects way less than 1%. Dave

 

[Larry$]

Tax rates are difficult to establish here given all the special deals that various things get. The state pays back to the cities & counties based on property values. The state law has commercial properties including apartments pay @ 100% of the rate. Homeowners get a 10% discount, Farmers get a 20% discount. Low income get another separate deduction. County rates are the summation of all the taxing authorities (county, city, schools, jail, natural resources, ag societies, library, public building, RR safety, com college, Assorted bonds for schools, arena, fire,... I counted 24 total taxes) Schools are the largest %. Since only the final user pays the taxes, apartment dwellers pay a higher rate than homeowners.