Who Wants to Compare Personal Property Taxes? [ADMIN WARNING: NO POLITICS]

[Splenda]

There is vasts swaths of this country with people living in it that for lack of a better colloquial term, live in "Bumfuck Egypt". Most of those places are rural or post industrial and property market is static pretty much for home prices and at best, are maybe keeping up with inflation with maybe a point or two more for property value increases.

These places will never see the 3X+ property value increases in a decade like other more urbanized areas because nobody is moving there to create the demand for high cost housing to be built or wanting to buy the houses already being there. Nor are they quaint places for retiring Boomer's or Gen X that want to cash in their high equity bubble from moving out of places like California and is why they have discovered Idaho, Montana and Wyoming and will ruin those affordable housing markets for the people already living there.

I thought we escaped the urban sprawl. In 2017, after living in Nashville for 32 years, we moved to a small town 70 miles away from Nashville. Our town is about 70 miles from Nashville, 70 miles from Chattanooga, and 70 miles from Huntsville. When we moved here in 2017, we purchased our 4200 square foot house on a cul-de-sac, built in 2004, for $335k. We also bought the .6 acre empty lot next door for $25k. Then the COVID pandemic hit, and more people were working from home. People were leaving California. In two years, the value of our home rose to $700k and the empty lot to nearly $100k. Our neighborhood has at least three new families that moved here from California, one with 11 people (and 9 dogs) living in it. I'm glad it seems to have slowed down, but the last 5 years have been crazy.

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[Lunentucker]

I don't care what Zillow and redfin think, I wouldn't sell if for less than a million.
70 acres of bliss.

 

[Deleted member 57233]

I don't care what Zillow and redfin think, I wouldn't sell if for less than a million.
70 acres of bliss.

If that was in Idaho, it would be worth $3 million

 

[Vtur]

Or

If that was in Idaho, it would be worth $3 million

Or a whopping 2 car garage in Santa Clara, Calif

 

[Labswine]

I live in an affluent area south of West Chester, PA (still the West Chester address but closer to the Chadds Ford area...think Battle of the Brandywine during the American Revolution but, still...). Our school district is in the top 5 in the state of PA and last I heard top 30 in the whole country. In the last 5 years I have had this home (inherited when my Dad passed) it went from $690K then to now over $850K in value. Probably more as there have been significant improvements done inside and out My neighbors have also seen significant increases in home values. When a home goes for sale here, it's pretty much under contract in one month. It's because of the school district...people want their kids to go there. I went there and it didn't do me any favors but, that was back in '81 when I graduated.

My taxes are ~$500 township taxes, ~$1,500 county taxes and this year, the school tax for this year was $8,835 (up $300 from last year and up ~$900 over the past 5 years). I have a 2,550 sq. ft. home (ranch) on 2.77 acres with a pool and a barn. All that gets lumped into the assessment.

Love the peace and quiet here and my neighbors are awesome. Plus, no one is crawling over the other as we have 2 acre minimum zoning.

 

[Mr Miami]

I live in an affluent area south of West Chester, PA (still the West Chester address but closer to the Chadds Ford area...think Battle of the Brandywine during the American Revolution but, still...). Our school district is in the top 5 in the state of PA and last I heard top 30 in the whole country. In the last 5 years I have had this home (inherited when my Dad passed) it went from $690K then to now over $850K in value. Probably more as there have been significant improvements done inside and out My neighbors have also seen significant increases in home values. When a home goes for sale here, it's pretty much under contract in one month. It's because of the school district...people want their kids to go there. I went there and it didn't do me any favors but, that was back in '81 when I graduated.

My taxes are ~$500 township taxes, ~$1,500 county taxes and this year, the school tax for this year was $8,835 (up $300 from last year and up ~$900 over the past 5 years). I have a 2,550 sq. ft. home (ranch) on 2.77 acres with a pool and a barn. All that gets lumped into the assessment.

Love the peace and quiet here and my neighbors are awesome. Plus, no one is crawling over the other as we have 2 acre minimum zoning.

If I am doing the math correctly, that is nearly 11k in property taxes, however you break it down. That is quite a few Benjamins every year. Wow, I know that taxes are high in your area (I lived across the river in Cherry Hill in the 80's and paid 4k annually for a 3br 1 1/2 bath split level before I left there in '89 for Miami). I know that is the "going price" but it's still is a lot of money.

 

[ShadowsPapa]

There is vasts swaths of this country with people living in it that for lack of a better colloquial term, live in "Bumfuck Egypt". Most of those places are rural or post industrial and property market is static pretty much for home prices and at best, are maybe keeping up with inflation with maybe a point or two more for property value increases.

These places will never see the 3X+ property value increases in a decade like other more urbanized areas because nobody is moving there to create the demand for high cost housing to be built or wanting to buy the houses already being there. Nor are they quaint places for retiring Boomer's or Gen X that want to cash in their high equity bubble from moving out of places like California and is why they have discovered Idaho, Montana and Wyoming and will ruin those affordable housing markets for the people already living there.

Part of the issue is the cost of developing the land - you need sewer, water, power, and today - internet, for it to have any value. If there's no sewer, gas, water, then it won't be worth as much in large part due to the extreme costs of development.
Rural water stops less than 1/4 mile from us in either direction - the cost to get it just to our property would be about $30,000 - then the cost to run it to the house.......... so we'd be looking at 40 grand.
It's a property value killer for our neighbor as their well is iffy in drought years.
Otherwise, since we moved here there have been 3 houses moved in from other places and 4 houses built in the mile west of us - one of them is easily a 3/4 million property.

Iowa "building lots" prices vary wildly, depending on location, and other factors. I've seen developed lots a small fraction of an acre top 30K
Of course, when trying to compare land and homes here with Florida, California or any place else - one has to consider the cost of living. Some places it's just so much cheaper to live, wages are a fraction of what they are in other states, so homes are a lot cheaper.

 

[bluemoon110]

Rural South Carolina. My 2022 JT is 3 years old this year. Tax was about $890 first year, about $750 last year, and $690 this year.

 

[Mr Miami]

Rural South Carolina. My 2022 JT is 3 years old this year. Tax was about $890 first year, about $750 last year, and $690 this year.

Reading your comment, does the 2022 JT have anything to do with property value or was that just a separate comment? Are you saying SC has a tax on the value of your vehicles like VA does?

 

[ShadowsPapa]

Reading your comment, does the 2022 JT have anything to do with property value or was that just a separate comment? Are you saying SC has a tax on the value of your vehicles like VA does?

A lot of vehicles are "taxed" or "licensed" based in part on the value of the vehicle when new.

Iowa -

• 1-7 years old: 1% of list price + $0.40 per 100 lbs of weight.
  
  
• 8-9 years old: 0.75% of list price + $0.40 per 100 lbs of weight.
  
  
• 10-11 years old: 0.50% of list price + $0.40 per 100 lbs of weight.
  
  
• 12+ years old: A flat fee of $50.
  

 

[Mr Miami]

A lot of vehicles are "taxed" or "licensed" based in part on the value of the vehicle when new.

Iowa -

• 1-7 years old: 1% of list price + $0.40 per 100 lbs of weight.
  
  
• 8-9 years old: 0.75% of list price + $0.40 per 100 lbs of weight.
  
  
• 10-11 years old: 0.50% of list price + $0.40 per 100 lbs of weight.
  
  
• 12+ years old: A flat fee of $50.

If I did my math right (MSRP $60,000 and weight 5,000 lbs.) that comes to 600 + 20 = $620 per year. WOW! Shit, that's a lot for just ONE vehicle! If you have 2 or 3, you are likely well over $1,000.

I guess I can't complain here in FL. My wife's birthday and mine are about 3 weeks apart so I just pay for all of the stuff at once in March of each year: a '21 BMW, 3 Jeeps ('24, '16, '99) and a 23 foot boat. Total for all 5, around $300 (it roughly works out to less than $60 per registration).
Again, I better be quiet and not give any politicians here any ideas.

 

[ShadowsPapa]

If I did my math right (MSRP $60,000 and weight 5,000 lbs.) that comes to 600 + 20 = $620 per year. WOW! Shit, that's a lot for just ONE vehicle! If you have 2 or 3, you are likely well over $1,000.

I guess I can't complain here in FL. My wife's birthday and mine are about 3 weeks apart so I just pay for all of the stuff at once in March of each year: a '21 BMW, 3 Jeeps ('24, '16, '99) and a 23 foot boat. Total for all 5, around $300 (it roughly works out to less than $60 per registration).
Again, I better be quiet and not give any politicians here any ideas.

Yeah, figure a 2023 4xe JLU Rubicon with a MSRP of about 70K and then my JT Mojave X with an MSRP of about 66K.
We didn't actually pay that for either when we bought them, but.......... good thing we like our Jeeps!
My other two cars are 50 each.

 

[Mr Miami]

A lot of vehicles are "taxed" or "licensed" based in part on the value of the vehicle when new.

Iowa -

• 1-7 years old: 1% of list price + $0.40 per 100 lbs of weight.
  
  
• 8-9 years old: 0.75% of list price + $0.40 per 100 lbs of weight.
  
  
• 10-11 years old: 0.50% of list price + $0.40 per 100 lbs of weight.
  
  
• 12+ years old: A flat fee of $50.

Also, if they base it on "list price" I am assuming MSRP, not the purchase price. If that is the case, buying from the "Big 3" American companies puts the screws into the buyer because they tend to inflate the MSRP but then discount it with offers and rebates and holdbacks to the dealers. In my case, my JTR's list was 66k and I paid about 44k during the time over 30% discounts off MSRP was the norm for Rubicons and Mojaves (late '24 through early '25). So that seems very unfair if I would be paying 1% on the $22,000 difference, $220 per month extra for something I didn't pay. Am I correct here?

 

[ShadowsPapa]

Also, if they base it on "list price" I am assuming MSRP, not the purchase price. If that is the case, buying from the "Big 3" American companies puts the screws into the buyer because they tend to inflate the MSRP but then discount it with offers and rebates and holdbacks to the dealers. In my case, my JTR's list was 66k and I paid about 44k during the time over 30% discounts off MSRP was the norm for Rubicons and Mojaves (late '24 through early '25). So that seems very unfair if I would be paying 1% on the $22,000 difference, $220 per month extra for something I didn't pay. Am I correct here?

I'll have to look at our registration receipts - they seem to generalize the numbers, instead of being exact. Now you have me curious!

 

[bluemoon110]

Reading your comment, does the 2022 JT have anything to do with property value or was that just a separate comment? Are you saying SC has a tax on the value of your vehicles like VA does?

That is exactly what I am saying.

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