Dear Lord I could only dream of that property tax. My place is a little over half that size and they keep jacking my property tax up each year. Although housing has been slowing here so maybe will get some relief.
As with Clinton what reduced the deficits towards the end was his losing Congress.
This only worked because so-called Republican moderates, who would be quite spendthrift normally, will cooperate with conservatives on spending if and only if there is a Democrat in the White House. When theres a Republican in the White House they will reach across the isle to the ever eager to spend Democrats (who know their base will not blame them for deficits even as Republicans will suffer with their base) and indulge their pent up urge to spend freely.
I live in Texas. My mortgage, property taxes and insurance come out to about $32,500 per year. But I’m on a 15 year mortgage and live in a 3000sqft home in a burb of Houston.
I would have to double check but I believe the assessed value is around $280,000. If we were to put it on the market today I would probably ask around $320,000. Not sure what we would actually get because property values have still been somewhat sluggish in my area.
Does that include state taxes as well? I remember reading that property taxes in Texas were high but not as high as NJ. I also had a neighbor who was moving to Texas for his job and he was going to be able to buy a lot more house for his buck that what he had in NJ. Nonetheless that number sounds really high?
My property taxes are about $7000 on a valuation of a little over $300,000, or 2.31%. In my previous home which was a new build, the property taxes were 3.1%. I know some who have a rate of 3.3 - 3.5%. These numbers include all levels of property tax - school, municipality, county, LID, MUD, etc. That’s why it varies quite a bit.
Rural Utah. And looking I got it backwords. Homeowners insurance $590/year. Property tax is $660. (well $559 and change so i send them a 660 check and the change is credited to next year )
Apparently, when you adjust GDP per capita for the cost of living (which is a more apples to apples approach) Utah averages out almost $1K per year higher than Germany. More than a grand vs Sweden.
I looked up New Jersey’s general taxes and one place had more than $12 per hundred in valuation! I guess it really isn’t theft when the government is doing it.
(another had barely over 2, some even lower, but 12%?)
We have had a ton of out of state move in’s the last couple years (mostly retured because there is no industry here).
On couple that was talking to some people this summer said they sold their home where they lived, bought their home here with cash, paid off all their vehicles, and still was able to put money in the bank. Now they do nothing and live off the retirment payment each month from the husbands work (few years they will get the retirment and SS payments).