Residents of CT are getting a tax shock today

[projectnut]

I’m glad you guys are having a good time with my dumb mistake

Sorry, not trying to pick on you. Firebrick's comment just reminded me of the winners "lie" a few years ago. Most of the time they're long and involved. This one was just so simple and straight forward it stuck with me.

 

[Ischgl99]

Same deal here in CO, personal property tax. They are going to get you one way or another. I did get a 50% reduction in my property tax when I turned 65, but you have to request it in our county. Mike

All I could find for CT is a property tax freeze when you reach 70, but there are income limits to it, so not sure how many people would qualify for that.

I saw an article in Money magazine I believe about 20 years ago that compared the total tax burden by state, and when you took everything into account, your taxes were not that much different across the country, it just varied how they took it.

 

[Ischgl99]

Sorry, not trying to pick on you. Firebrick's comment just reminded me of the winners "lie" a few years ago. Most of the time they're long and involved. This one was just so simple and straight forward it stuck with me.

No offense taken! I spent 28 years in engineering and find it funny I make a dumb math mistake for all to see lol

 

[higgite]

Here in Wisconsin, we have an annual Liars Club award. The one that won the prize a few years ago was "There are 3 kinds of people in the world. Those that can do math, and those that can't"

Or the computer nerds' version: There are 10 kinds of people in the world. Those who can do binary math and those who can't.

Tom

 

[addertooth]

Yes, even people in other states are getting hit. My house payment is quite low (it is in the last 3 years of payments). However, with property being more valubable, it increased property taxes. With houses being more valuable, it made the cost of house insurance to leap up as well. My house payment went up from about 450 to 555 due to these two factors. It includes the escrow for taxes and insurance. That is about a 20 percent jump.

 

[woodchucker]

I’m glad you guys are having a good time with my dumb mistake

ya gotta be able to laugh at yourself... if you don't, you are taking yourself too seriously, and not enjoying life. I know, I am one of those who takes life too seriously

 

[woodchucker]

All I could find for CT is a property tax freeze when you reach 70, but there are income limits to it, so not sure how many people would qualify for that.

I saw an article in Money magazine I believe about 20 years ago that compared the total tax burden by state, and when you took everything into account, your taxes were not that much different across the country, it just varied how they took it.

I don't know about that. I looked at moving to Colorado when my son was born. Most of my friends went to college , became ski bums then got real for life..

I never did the ski bum thing.. so I wanted to get more quality of life , anyway... we were in sticker shock (in a good way) when we went out and started looking for homes. The taxes were under 1 thou. I was not able to land a job, or find what we wanted , so we came back again, and the californians were moving in en masse. Everything sky rocketed. For that same house, you will pay 8 thou in taxes here. And some areas, I hear are just off the charts. When we lived up in North Jersey, 20 thou was not unheard of for a 1/4 acre and 2600 sq ft home. I don't know what the taxes went to in Co since we got priced out of the market real fast, and didn't like what we were seeing. All of a sudden lots of building everywhere, and that's not what we wanted.

 

[Chewy]

Here in Rowan County NC we pay .6575 per $100 of taxed value on a vehicle. And we pay .0648 per $100 Fire Tax. That goes to help rural fire department expenses. A 94 F150 costs $5.78 and a 2000 Impala costs $10.69. Won't get the newer vehicles until December. Best part of this is that it is bundled into the registration. You pay it all at time of re-registration or you don't register.

I left Westchester County NY over 40 years ago. My dad then payed over $3K in property taxes on 2-1/2 acres and a small 1950 house he built. Don't know about now, but at the time we got good service and the schools were better then top notch. Our arch rival was a school that is consistently rated in the top couple of schools in the nation. But, IBM and Texaco and Pepsi supported it.

I have 20 acres in NC and pay $1K for it and the mobile home. The Town and County is fair, lets leave it at that. But I can do what I want. Very little zoning BS to put up with and I do enjoy a 200 yard rifle range of my own.

 

[Ischgl99]

I don't know about that. I looked at moving to Colorado when my son was born. Most of my friends went to college , became ski bums then got real for life..

I never did the ski bum thing.. so I wanted to get more quality of life , anyway... we were in sticker shock (in a good way) when we went out and started looking for homes. The taxes were under 1 thou. I was not able to land a job, or find what we wanted , so we came back again, and the californians were moving in en masse. Everything sky rocketed. For that same house, you will pay 8 thou in taxes here. And some areas, I hear are just off the charts. When we lived up in North Jersey, 20 thou was not unheard of for a 1/4 acre and 2600 sq ft home. I don't know what the taxes went to in Co since we got priced out of the market real fast, and didn't like what we were seeing. All of a sudden lots of building everywhere, and that's not what we wanted.

I planned on moving to CO after college and working at a ski resort for a year, but tore my ACL in college and got it reconstructed between junior and senior years, so skipped that idea. Sometimes I regret not going still, but seeing what it has become out there, also glad I’m not there.

I used to work in North Jersey, house prices and taxes are insane up there compared to Central Jersey. I traveled just about every week, so didn’t have to go into the office very often, but no way was I going to move up there and pay those prices. I chose to change jobs and move to CT instead, which I thought would be more expensive than NJ, but was actually considerably less in most areas.

 

[Ischgl99]

Yes, even people in other states are getting hit. My house payment is quite low (it is in the last 3 years of payments). However, with property being more valubable, it increased property taxes. With houses being more valuable, it made the cost of house insurance to leap up as well. My house payment went up from about 450 to 555 due to these two factors. It includes the escrow for taxes and insurance. That is about a 20 percent jump.

Houses in my town got reassessed a few years ago, so we are good until the next assessment, which I believe is every 10 years. The people who bought in the last couple years will be hating it since their assessment is based on what they paid.