Real Estate Taxes

[doc623]

If this is not the right place move it.
It is that time again in this state.
I know that some states do not have real estate taxes.
I was woundering if the legality or constitutionality has been chalaged.
With the current economical situation of the country and no county or state official giving any hope or thought to this subject and a lot of us are on fixed incomes it isn't getting any easier and there is only so much blood you can get from a rock.

[Cabin Fever]

In Minnesota, we call this "Property Tax." Our property taxes are used to fund county, township, and municipal goverment operations, as well as school districts. Personally, I do not believe one property should be taxed more than another property just because it is worth more. The family living in the McMansion is probably using the same amount of local government services as the family living is a run down trailer house.

BTW, I am also on a fixed income. I earn $xx.xx/hour for 2,080 hours per year exactly...no more, no less.

[uncle Will in In.]

You are right Doc. They can only get so much blood from a rock. What they do in that case is take away your rock.
Our real estate is leased from the local government. Even though the deed is in our name. we never own it. Just miss a couple years rent on their lease, and you get evicted. <>UNK

[Stephen in SOKY]

In our county occupational taxes are down, sales taxes are down, construction inspections/fees/taxes are down, etc. Yet we continue to build parks/schools/greenways etc. as if they were free. I see only one avenue from which to raise additional taxes to feed this unnecesary & exorbitant growth: higher property taxes. I fear those of us who own property are about to be taken to the cleaners even more than we are currently. As a matter of fact, I'm concerned we're facing enormous increases, if not this year, then certainly next.

[ibcnya]

Originally Posted by uncle Will in In.

You are right Doc. They can only get so much blood from a rock. What they do in that case is take away your rock.
Our real estate is leased from the local government. Even though the deed is in our name. we never own it. Just miss a couple years rent on their lease, and you get evicted. <>UNK

I agree 100% UW, for those who think they "own" property. Just quit paying the taxes on it and see how long you own it. No one here in the states "owns" property. It's just leased to you by your friendly helpful government.

[Stephen in SOKY]

One other comment, I really need a machinery shed and a couple of additional outbuildings. I have the materials on hand to build them. However, I've chosen to get by without them until I see how our property taxes shake out this year & next. There will not be any improvements made here in the short term. How's that for stimulating the economy?

[sgl42]

i believe that almost every state has real estate/property taxes, altho the rate varies. i haven't found any good historical info to find out when property taxes became common in the US.

i have heard (but not verified) that some counties in alaska do not have real estate taxes. i've also read that nevada has a way to get an "allodial title" if you own the land, and pay a large enough amount that the state can essentially pay all your future property taxes from the interest earnings of the payment. (ie, similar to buying a lifetime subscription to a magazine -- you pay say 10-15 times the yearly rate now, which earns enough that they earn money each year to cover the magazine subscription for life.)

with the economic meltdown, i expect taxes of all sorts to go up, and fines and fees too. (i recently saw an article saying that dallas county got 50% of it's revenue from traffic fines!) expect service cuts too.

--sgl

[Parrothead]

Originally Posted by sgl42

i believe that almost every state has real estate/property taxes, altho the rate varies. i haven't found any good historical info to find out when property taxes became common in the US.

1700s. Began in the Northeast colonies.

[HermitJohn]

The only thing that can be said of real estate taxes is that nobody, not even the richest with tag teams of accountants and lawyers can get out of them. And those most able to pay higher taxes most likely own more expensive real estate.

On other hand its a very regressive tax. People's incomes change, they may have been young with high cash flow when they bought the property. Now retired on social security and all of a sudden yuppies start building new with a vengence in the neighborhood. Your real estate taxes escalate to point you are paying equivalent of rather high monthly rent. So this forces you to sell out and try to find cheaper place to live.

Its just wrong. Once you buy anything, you shouldnt have to pay for it over and over. You should own it free and clear until you decide to sell it.

[RuralSerenity]

Originally Posted by HermitJohn

The only thing that can be said of real estate taxes is that nobody, not even the richest with tag teams of accountants and lawyers can get out of them. And those most able to pay higher taxes most likely own more expensive real estate.

On other hand its a very regressive tax. People's incomes change, they may have been young with high cash flow when they bought the property. Now retired on social security and all of a sudden yuppies start building new with a vengence in the neighborhood. Your real estate taxes escalate to point you are paying equivalent of rather high monthly rent. So this forces you to sell out and try to find cheaper place to live.

Its just wrong. Once you buy anything, you shouldnt have to pay for it over and over. You should own it free and clear until you decide to sell it.

I don't know the specifics of how it works, but Missouri started some type of "homestead" tax credit, due to just that.

[ronbre]

already paid summer taxes..and prepared to pay winter..not thrilled..but they are done

[jassytoo]

Real estate values have gone down here but our property tax went up by a third. We worked our tails off to get this place paid off now our taxes are pretty near what the mortgage payment was.

[VT Chicklit]

I have received a temporary tax bill last week because our town voted to reject our school budget until the end of June,when it fnally passed. Since the funding for the school is based on property values, and it takes priority over town taxes by law, the state has not had time to determine the rate at which the properties in my town will be taxed at, so they guess. God forbid that they get no money until they give us a hard and fast number before we are expected to pay for it. They have decided to "guesstimate" low and send us a "real" bill when they finish figuring out the school tax rate for our town. Our town will only get back a portion of the "school" money that we sent to the state. In the mean time, the first of two payments of the "guesstimation" is due on August 13 or interest will start to acrue. I fully expect that my additional tax will be about $1000 more than the $2100 that I was guesstimated. My house is a 1800 sq/ft log cape, that is nothing spectacular. It sits on .8 acre of back land.

I live on an island which, because it is an island, has alot of lake front. I do not own any of it. My property sits back about 500 feet from the lake, with two properties (with houses) in front of mine. I cant even see the lake from my house during the spring, summer, and fall, due to houses and foliage. In the winter all I see is snow and ice. I was notified that my poperty value went up $6000 because I am allowed, by my deed, to use someone elses beach, up the road from me. When I pointed out that I didnt own the beach and that it seemed to me that the beach was being taxed 20 times, because there were 19 deeds that were allowed to use that piece of beach, I was told that the other towns in my county were being taxed in a view too, but were were not taxed on that yet! Property taxes are crazy.They go up when the property value goes up, but it doesnt go down when property values plummet.

[salmonslayer]

i have heard (but not verified) that some counties in alaska do not have real estate taxes.

We dont have counties in Alaska and all incorporated boroughs have real estate taxes of some type. Had a cabin only accessible by boat or air..absolutely no services what-so-ever could ever reach us...still paid property taxes.

However, the rates vary wildly depending on where you live...our MILL rate this year is 10.60...7.11 for education and general service, 1.34 for debt service, 1.95 for parks and rec, and 0.20 for fire protection which is high for the state. The cabin was 4.0

[Ohiogal]

In my area (SW Ohio) you can contest the tax rate with a valid current appraisal value on the property and land. The problem is, that often the appraisal value comes in higher, except for now, the land and house values have plunged off a cliff and most are down there by 30% or so.
I plan on going back to the county ( and subsequently the state of Ohio) to get my taxes lowered next January. Along with that I'm applying for an agricultural rate, vs. residential since I'm surrounded by properties that are split 1 acre/3 acres.
It will cost me $300 on the appraisal, but worth it. I may just roll it into trying to refinance, and let the bank do the 'official' appraisal and see where it lands.
All you with 'fancy' properties, with those kinds of justifications, I'd sell and move out.

[michiganfarmer]

Originally Posted by RuralSerenity

I don't know the specifics of how it works, but Missouri started some type of "homestead" tax credit, due to just that.

Michigan has one too

[Win07_351]

True property ownership is between God and its keeper. It is a matter of stewardship. The owner becomes a steward (keeper)of the property for God. Property was often handed down through generations lasting hundreds of years (in the same family). It was meant not only to provide a home, but also support a family/s thru farming or business.

When people are taxed off their property, it is because the land is under tyranny.

[Windy in Kansas]

Originally Posted by Cabin Fever

Personally, I do not believe one property should be taxed more than another property just because it is worth more. The family living in the McMansion is probably using the same amount of local government services as the family living is a run down trailer house.

Hi Cabin ol' pal. Say, this is one time that you and I will disagree. The police will make far more runs and answer more calls at the run down trailer house than they ever will in the McMansion neighborhood.

The trailer house crowd are fine folks, but the run down trailer house crowd is where many of the domestic disturbances will take place, squabbles between neighbors, out of control parties, where parole violators will need to be picked up, improperly licensed/lighted vehicles ticketed, etc. Not just run down trailer homes but I think most folk will know those we speak of.

There is always a lot of controversy over the north end of towns versus the south end of towns and it seems state or city boundaries don't limit it.

[Freeholder]

Originally Posted by sgl42

i have heard (but not verified) that some counties in alaska do not have real estate taxes. --sgl

Alaska doesn't have counties, it has boroughs, and almost all the organized boroughs do have property taxes. I know of one that doesn't; it's extremely remote with a very small population, and makes it's necessary income with fees, mostly on tourists. However, there are still a few parts of Alaska that are not in organized boroughs, such as Tok, and therefore don't have property taxes. The state pays for such things as schools in those areas. This might have to change if the state loses too much of it's income from the oil and gas fields, but hopefully that won't happen too soon.

Kathleen

[ET1 SS]

Everybody who 'owns' land pays some kind of tax on it.

Here they charge $1.05 per acre each year for owning forest land.

Wish we could figure out some way to lower it.