OT: Retiring in Delaware: Newark/Wilmington/other?

[jlwdm]

Originally Posted by fuzzalow

No Texas state and city income taxes, right?

In the area of braggin' or, alternately, whinging about high levels of taxation, I doubt that anywhere has got New York, especially New York Metro, beat. People wanna live here - and the government (NOT 'gummint) knows it.

Yes, Texas hits residents hard on property taxes, but no income taxes. Property tax rates in TX are over 4 times what I paid in AZ.

Jeff

[R3awak3n]

Originally Posted by fuzzalow

$14K a year? You mean $1.4K ($1,400.00) don't you? Ripples of taxation concentricity emanating, in effect, from ground zero at the Empire State Building outwards.

$14,000/year is entry level for combined state & school district taxes in Nassau County - which is about 15 miles from the Empire State Building. And additional NYS income taxes to be levied on top of that.

Martha Stewart's farm in Bedford, Westchester County I could only guess at, maybe $100K/year in taxes?

14k does not sound crazy at all. My place upstate (near woodstock) is about 9k a year in taxes. 6 acres and 4 bedroom farm house.

and they don't even pick up my trash

[Tandem Rider]

14K isn't crazy?? HS, one of the reasons I just sold my house is because the taxes went to $6600 and I have a custom home on over an acre of woodland backing up to DNR, 1/2 mile from a MUT, last house on the right.

[572cv]

For retirees, Delaware does not charge the portion of property taxes which support schools. Sensible.

[biker72]

Originally Posted by jlwdm

How can you pay so little in TX? A $100,000 house would be $2,500+or- in most areas.

I wish I paid that a month.

Jeff

Maybe I'm getting the Old Fart discount.
My house and property are appraised at $150K. I'm in a hot area so houses around me are selling for 200K+.

I double checked my numbers. I paid exactly $1663.77 in property and school taxes for 2016.

Edit:
I am getting the Old Fart discount... My school taxes have been frozen back to when I turned 65. My younger neighbors are paying a lot more.

[fuzzalow]

Originally Posted by jlwdm

Yes, Texas hits residents hard on property taxes, but no income taxes. Property tax rates in TX are over 4 times what I paid in AZ.

Jeff

Death and taxes. The municipality has to get revenue from somewhere so if there's no state tax on income, as in TX, they will get revenue from higher property taxes. AZ has a state tax on income so they need not tax real estate as heavily. Somebody always pays. You were pullin' my leg on this one, right?

Tax revenue obtained through taxing real property owners versus a blanket income tax on all earned wages is a progressive tax structure. I guess from the vantage of civic equity that is a fairer method of apportioning the tax burden.

Originally Posted by R3awak3n

14k does not sound crazy at all. My place upstate (near woodstock) is about 9k a year in taxes. 6 acres and 4 bedroom farm house.

and they don't even pick up my trash

Yeah well you ignored the "entry level" preface on my comment about the amount of $14k as an annual property tax. The county I used to own a home in - Nassau County NY (13th wealthiest county in the USA last time I checked ). 6 acres as you have in Woodstock is not common in Nassau County - that is considered a lot of land. Taxes on that much property in the Town of North Hempstead would be at least $50k. Fox News' Bill O'Reilly lives in the town I lived in and he doesn't have 6 acres.

[alancw3]

Originally Posted by 572cv

For retirees, Delaware does not charge the portion of property taxes which support schools. Sensible.

i actually had to research this as it seemed too unbelievable to me. so what i found was that seniors can get a $500 reduction in the school tax portion of their real estate taxes. but they have to live in delaware for three years before being eligible. that makes much more sense to me.

[jlwdm]

Originally Posted by fuzzalow

Death and taxes. The municipality has to get revenue from somewhere so if there's no state tax on income, as in TX, they will get revenue from higher property taxes. AZ has a state tax on income so they need not tax real estate as heavily. Somebody always pays. You were pullin' my leg on this one, right?

...

Pullin' your leg on what? Just facts.

Jeff

[shovelhd]

Originally Posted by alancw3

i actually had to research this as it seemed too unbelievable to me. so what i found was that seniors can get a $500 reduction in the school tax portion of their real estate taxes. but they have to live in delaware for three years before being eligible. that makes much more sense to me.

This would never fly in MA. The MTA wouldn't let it out of committee.

[AngryScientist]

...

Rank
State
Effective Real-Estate Tax Rate
Annual Taxes on $176K Home*
State Median Home Value
Annual Taxes on Home Priced at State Median Value
1 Hawaii 0.28% $489 $504,500 $1,405
2 Alabama 0.43% $764 $123,800 $538
3 Louisiana 0.48% $841 $140,400 $672
4 Delaware 0.53% $929 $232,900 $1,231
5 District of Columbia 0.57% $1,005 $454,500 $2,601
5 South Carolina 0.57% $1,009 $137,600 $790
7 West Virginia 0.59% $1,035 $100,200 $590
8 Arkansas 0.62% $1,088 $108,700 $673
8 Colorado 0.62% $1,097 $239,400 $1,495
8 Wyoming 0.62% $1,094 $189,300 $1,179
11 Utah 0.69% $1,210 $212,500 $1,463
12 New Mexico 0.72% $1,273 $159,300 $1,154
13 Tennessee 0.75% $1,314 $139,900 $1,046
14 Idaho 0.77% $1,354 $160,500 $1,237
15 Mississippi 0.78% $1,377 $100,800 $790
16 Virginia 0.80% $1,401 $243,500 $1,941
17 California 0.81% $1,429 $371,400 $3,021
18 Kentucky 0.84% $1,471 $121,600 $1,018
18 Arizona 0.84% $1,484 $162,900 $1,376
20 North Carolina 0.85% $1,502 $153,600 $1,313
21 Oklahoma 0.87% $1,525 $115,000 $998
21 Montana 0.87% $1,528 $187,600 $1,632
23 Indiana 0.88% $1,539 $122,700 $1,075
24 Nevada 0.92% $1,618 $167,100 $1,539
25 Georgia 0.96% $1,682 $148,000 $1,417
26 Missouri 1.00% $1,763 $136,700 $1,372
27 Oregon 1.08% $1,890 $234,100 $2,518
27 Washington 1.08% $1,903 $257,200 $2,785
27 Maryland 1.08% $1,906 $287,500 $3,118
30 Florida 1.10% $1,932 $156,200 $1,718
31 Massachusetts 1.18% $2,075 $329,900 $3,896
32 Minnesota 1.19% $2,091 $185,200 $2,204
33 Alaska 1.21% $2,124 $246,300 $2,978
34 North Dakota 1.22% $2,146 $142,000 $1,734
35 Maine 1.27% $2,233 $173,600 $2,206
36 South Dakota 1.36% $2,382 $135,700 $1,840
37 Kansas 1.41% $2,478 $129,400 $1,825
38 Iowa 1.47% $2,582 $126,300 $1,856
39 Pennsylvania 1.51% $2,647 $164,900 $2,484
40 Ohio 1.55% $2,729 $129,600 $2,013
41 New York 1.58% $2,773 $283,700 $4,478
42 Rhode Island 1.61% $2,829 $241,200 $3,883
43 Vermont 1.72% $3,021 $216,200 $3,717
44 Michigan 1.83% $3,220 $120,200 $2,203
45 Nebraska 1.88% $3,301 $130,100 $2,444
46 Connecticut 1.91% $3,357 $274,500 $5,244
47 Texas 1.93% $3,392 $131,400 $2,537
48 Wisconsin 1.97% $3,459 $165,900 $3,266
49 New Hampshire 2.10% $3,698 $237,400 $4,996
50 Illinois 2.25% $3,959 $175,700 $3,959
51 New Jersey 2.29% $4,029 $319,900 $7,335

[AngryScientist]

NJ is consistently ranked among the highest property taxes in the US.

it's all perspective.

some people think a $500 bike from Sports Authority is an expensive bike too.

[AngryScientist]

by the way. last i checked, there is NO dispute. NYC is the greatest city in - the world.

you wanna be under an hour commute to the greatest city in the world - you gotta pay.

[R3awak3n]

Originally Posted by fuzzalow

Death and taxes. The municipality has to get revenue from somewhere so if there's no state tax on income, as in TX, they will get revenue from higher property taxes. AZ has a state tax on income so they need not tax real estate as heavily. Somebody always pays. You were pullin' my leg on this one, right?

Tax revenue obtained through taxing real property owners versus a blanket income tax on all earned wages is a progressive tax structure. I guess from the vantage of civic equity that is a fairer method of apportioning the tax burden.



Yeah well you ignored the "entry level" preface on my comment about the amount of $14k as an annual property tax. The county I used to own a home in - Nassau County NY (13th wealthiest county in the USA last time I checked ). 6 acres as you have in Woodstock is not common in Nassau County - that is considered a lot of land. Taxes on that much property in the Town of North Hempstead would be at least $50k. Fox News' Bill O'Reilly lives in the town I lived in and he doesn't have 6 acres.

damn fuzz, thats crazy.

and angry is right, NYC is amazing. You can either pay 1mil for a 1 bedroom in the city, or pay less for a house an hour for the city but you going to get hit up with taxes.

I went up 2 hours and my taxes are still crazy, the next county up from me though would have been half the taxes but I just did not want to go up further, 2 hours from the city was my cutoff.

[vav]

Yup. No argument there. They live 13 miles from the Empire State Building so they know what that means. Maybe they drop that crazy DE idea and move to RI instead

[jlwdm]

Angry, I always wonder how they determine the rates that are listed. Around me the rates are 2.6% to $2.8%, but my county has a county hospital and a community college that increase the rates.

Probably just the state wide rates plus county, city and schools.

Jeff