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Posted: 5/25/2024 1:50:54 PM EDT
I own 2 properties in town.
1.) 960sqft house I bought in 2017 for $58k 2.)5000 sqft shop I bought 2 years ago for $105k Tax bill for the year? $8000 I can't wait for my daughter to graduate, then off to 100 acres of beautiful Tennessee. Fuck the government Fuck illinois Fuck taxes |
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Posted: 5/25/2024 1:52:17 PM EDT
[#1]
Shop 5x larger than house
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NY, USA
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Posted: 5/25/2024 1:56:08 PM EDT
[#2]
Quote HistoryOriginally Posted By XJ: Shop 5x larger than house Priorities, he has them. 
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Posted: 5/25/2024 1:56:49 PM EDT
[#3]
move to a free state?
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Posted: 5/25/2024 1:58:33 PM EDT
[Last Edit: STL_Nik]
[#4]
Quote HistoryOriginally Posted By JLPettimoreIII: move to a free state? I'm already in the buying process on 100acres in Tennessee. We just have to wait for my daughter to graduate high school before we move. Gives us some time to have a house built. |
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Posted: 5/25/2024 1:59:06 PM EDT
[#5]
2700 sqft on 3.5 acres worth $500k, property tax is $1300.
In Fayette county TN. |
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Posted: 5/25/2024 1:59:40 PM EDT
[#6]
Quote HistoryOriginally Posted By STL_Nik: I'm already in the buying process on 100acres in Tennessee. We just have to wait for my daughter to graduate high school before we move. Gives us some time to have a house built. What part? There is a meet and greet in July in middle TN. |
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CT, USA
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Posted: 5/25/2024 2:01:23 PM EDT
[#7]
I love paying my property tax and capital gains tax makes me feel patriotic
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CT, USA
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Posted: 5/25/2024 2:03:24 PM EDT
[#8]
Quote HistoryOriginally Posted By JLPettimoreIII: move to a free state? Parts of Alaska no property tax 
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Posted: 5/25/2024 2:04:46 PM EDT
[#9]
Quote HistoryOriginally Posted By gotigers: What part? There is a meet and greet in July in middle TN. Camden |
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Posted: 5/25/2024 2:06:36 PM EDT
[#10]
Quote HistoryOriginally Posted By STL_Nik: Camden Good deal. We need more good men to hold the hordes at the TN river when they start moving east. |
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Posted: 5/25/2024 2:06:46 PM EDT
[#11]
One good thing about Rural Alaska is no property tax.
Just everything else is high.
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Posted: 5/25/2024 2:12:51 PM EDT
[#12]
Quote HistoryOriginally Posted By STL_Nik: Camden That is nice country. Good fishing and boating. Your 2 hours from me. Henry County Gun Club is 30ish miles from Camden. |
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Posted: 5/25/2024 2:18:29 PM EDT
[#13]
My property taxes exceed my mortgage payment. I’m in Texas and need to move to a free state.
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Posted: 5/25/2024 2:19:20 PM EDT
[#14]
Quote HistoryOriginally Posted By gotigers: That is nice country. Good fishing and boating. Your 2 hours from me. Henry County Gun Club is 30ish miles from Camden. It was important to me to secure land for my great grand children to hunt. I believe that land ownership is going to become rare in the future. |
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TX, USA
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Posted: 5/25/2024 2:20:36 PM EDT
[#15]
I’ve got you beat, but it’s Texas. You probably have me beat between property and state income taxes.
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Posted: 5/25/2024 2:20:37 PM EDT
[#16]
Quote HistoryOriginally Posted By XJ: Shop 5x larger than house I saw a beautiful property around the time i Was house shopping 6 years ago. IIRC it was in the county, nearest neighbors were 1/2 mile away in each direction, all large lots of land. Property was approx 15 acres, approx 5 acres looked like a park, fenced in with large oak trees with grass, all open and several large stocked ponds , 10 acres of thick woods. MASSVE shop capable of accepting 18 wheelers thru the huge 20’ W roll up industrial door. Shop was huge, approx 100x200 or so, concrete floors, upstairs apartment, with separate downstairs/ extra kitchen area, lots of heavy duty 220 wiring for tools, building had its own central air set up ac / heat. House was a 3 bed / 2 bath large newer double wide, but it looked very nice with nice landscaping, massive shop was approx 100 yards behind the house. $220k. Was SERIOUSLY tempted, but didn’t think VA loan would have sprung for / approved it. |
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Posted: 5/25/2024 2:21:53 PM EDT
[#17]
Quote HistoryOriginally Posted By ranging-by-zipcode: I love paying my property tax and capital gains tax makes me feel patriotic Yep... even with all my quarterlies and monthly payments to the IRS, I knew I was going to owe. Was going to split a gain between 2 years instead of eating it in one. Chose to eat it and 38k was my nice payment to the IRS last month. I am buying another place and the loan officer was questioning large transactions and the one underwriter did not like it. I have had to explain it 3 times of why the transaction occurred and it was legit. Shows as a transfer to the IRS but he wanted to ask me why it was so much. He didn't understand a large profit equals a large tax bill. |
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Posted: 5/25/2024 2:22:34 PM EDT
[#18]
Quote HistoryOriginally Posted By STL_Nik: It was important to me to secure land for my great grand children to hunt. I believe that land ownership is going to become rare in the future. Quote HistoryOriginally Posted By STL_Nik: Originally Posted By gotigers: That is nice country. Good fishing and boating. Your 2 hours from me. Henry County Gun Club is 30ish miles from Camden. It was important to me to secure land for my great grand children to hunt. I believe that land ownership is going to become rare in the future. I agree with you. It's going to be the whims of the very rich and large companies that hold most of the land eventually. |
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TX, USA
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Posted: 5/25/2024 2:23:12 PM EDT
[#19]
Quote HistoryOriginally Posted By ranging-by-zipcode: I love paying my property tax and capital gains tax makes me feel patriotic If by patriotic you mean engaging in some of the time honored traditions of our forefathers, then yeah, I feel really patriotic around tax time. |
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Posted: 5/25/2024 2:24:29 PM EDT
[#20]
Quote HistoryOriginally Posted By C3H5N3O9: I’ve got you beat, but it’s Texas. You probably have me beat between property and state income taxes. The idiots in this county vote for every tax increase. Right now we have a 5 year tax levy that went through, so every year for the next 5 years the taxes will increase. Plus the county ALWAYS increases the value of your property. The entire thing is a fucking racket designed to bleed our bank accounts. The elites hate us and they make sure we know it. |
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OK, USA
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Posted: 5/25/2024 2:41:50 PM EDT
[#21]
Well no shit Illinois and Texas have 2 of the highest rates in the Country.
https://www.tax-rates.org/taxtables/property-tax-by-state |
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Posted: 5/25/2024 2:45:41 PM EDT
[#22]
Property tax increases are capped here . If I remember right it's around 3 percent. So even if my property value doubles in a year they can only increase the property tax 3 percent. If you have a decent state representative in your state that actually gives a shit about people you should try to contact them to make this law wherever you are at.
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Posted: 5/26/2024 2:48:24 AM EDT
[#23]
Originally Posted By STL_Nik: I own 2 properties in town. 1.) 960sqft house I bought in 2017 for $58k 2.)5000 sqft shop I bought 2 years ago for $105k Tax bill for the year? $8000 I can't wait for my daughter to graduate, then off to 100 acres of beautiful Tennessee. Fuck the government Fuck illinois Fuck taxes Yes Fuck Illinois. I can only imagine how much my taxes would be in Shiloh now 2019 they were $6500. For a two story 2300sqft house |
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USA
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Posted: 5/26/2024 2:54:08 AM EDT
[#24]
I'm sure an ARF boomer will shorty tell you why you're in your financial situation and how they avoided it with bootstraps.
All jokes aside, my co-worker, from a family of property owners in Chicago had to sell everything and move to my AO because the property taxes starved them out. |
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Posted: 5/26/2024 2:58:52 AM EDT
[#25]
Rural Ohio, ours went up 20-30%, as did every neighbor.
Definitely need to have a cap on that shit but we dont. |
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USA
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Posted: 5/26/2024 3:00:34 AM EDT
[Last Edit: HourOfAngle]
[#26]
I live in a very rural area of Texas. My property taxes are very low. Of course it would be a half an hour or more for "a" deputy to arrive if I called. More for any volunteer firefighter. No sidewalks, no crosswalks, no real library, not a lot of stuff which suits me just fine. All that stuff cost money. Only recently did I get the option to get community water service, prior to that I used my own well and still do. The septic system is mine. I pay the US Forest Service guy some money to spread gravel for my road/driveway when he's out here with the grader/maintainer doing work on the national forest. I would not recommend it for anyone with school aged kids. Property tax for my adjacent timber land is also low and very low risk. Of course the timeline to produce income is long and out of the scope of lifespan for many depending on where you live. I harvest about once every 25 years here.
Not only does all that stuff cost money now throw in the multitude of layers of agencies and such that get paid to "manage" it and take their cut along the way. Lot of people depending on where you live. |
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MT, USA
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Posted: 5/26/2024 3:11:44 AM EDT
[#27]
Quote HistoryOriginally Posted By JLPettimoreIII: move to a free state? Lol. Lmao. Well played. |
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AL, USA
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Posted: 5/26/2024 3:21:57 AM EDT
[Last Edit: GDaawg]
[#28]
1300 sq ft house I bought in 2006 for 90k.
Property tax - $450 |
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Posted: 5/26/2024 5:06:28 AM EDT
[#29]
Originally Posted By STL_Nik: I own 2 properties in town. 1.) 960sqft house I bought in 2017 for $58k 2.)5000 sqft shop I bought 2 years ago for $105k Tax bill for the year? $8000 I can't wait for my daughter to graduate, then off to 100 acres of beautiful Tennessee. Fuck the government Fuck illinois Fuck taxes Our property taxes in suburban Cook County went up to $19,900 last year. Which is why we now live in Wisconsin. Fuck Cook County. |
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Posted: 5/26/2024 6:04:46 AM EDT
[#30]
Shit, I know people who would jump for joy if their property taxes were $8k.
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WV, USA
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Posted: 5/26/2024 6:10:29 AM EDT
[Last Edit: 8nbait]
[#31]
Quote HistoryOriginally Posted By gotigers: 2700 sqft on 3.5 acres worth $500k, property tax is $1300. In Fayette county TN. What is your state income tax like? In WV property taxes are dirt cheap but our state income tax is high. WV also taxes SSI, most states don't. I pay property tax on vehicles as well. UPDATE: I just saw that TN has the highest sales tax of any state. THat is why your property tax is so low. |
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Posted: 5/26/2024 6:17:32 AM EDT
[#32]
Everyone loves their houses being worth more except when it’s time to pay the king for the privilege.
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FL, USA
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Posted: 5/26/2024 6:33:51 AM EDT
[#33]
Originally Posted By STL_Nik: I own 2 properties in town. 1.) 960sqft house I bought in 2017 for $58k 2.)5000 sqft shop I bought 2 years ago for $105k Tax bill for the year? $8000 I can't wait for my daughter to graduate, then off to 100 acres of beautiful Tennessee. Fuck the government Fuck illinois Fuck taxes If headed for TN, stay away from the west side, and be advised the kalifornication is creeping east as they run outta space. We planned on retiring in TN, but will just hold fast in the FL panhandle now. Except TN comes here to vacation... |
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Posted: 5/26/2024 6:45:26 AM EDT
[Last Edit: Greenhorn]
[#34]
3800SF home and 1000sf pole barn on 34 acres of rolling field and woods, property tax is about $1,000/year out here in Ripley County, IN.
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Posted: 5/26/2024 6:46:28 AM EDT
[#35]
Quote HistoryOriginally Posted By Greenhorn: 3800SF home and 1000sf pole barn on 34 acres of rolling field and woods, property tax is about $1,000/month out here in Ripley County, IN. A month? |
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Posted: 5/26/2024 6:52:42 AM EDT
[#36]
Settle down. The liberals might fix this for us.
"Housing is a right" they say. If .gov decides it's actually a right then housing can't be taxes. Adios property tax! (Wish in one hand, shit in the other and see which one fills up first) |
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IL, USA
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Posted: 5/26/2024 7:27:19 AM EDT
[#37]
I’m in the same boat. Far edge of cool county, 1960 brick ranch, half acre lot. $12,000 a year. Going to start a thread about which state to retire in later today
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Posted: 5/26/2024 7:31:52 AM EDT
[#38]
3300 sf house, 700K assessment, $1650 for property tax, ATL metro area
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Posted: 5/26/2024 7:34:39 AM EDT
[#39]
Quote HistoryOriginally Posted By hicap: 3300 sf house, 700K assessment, $1650 for property tax, ATL metro area Does that include school tax? Mine with school, fire, etc, is 6k. |
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Posted: 5/26/2024 7:36:42 AM EDT
[#40]
Quote HistoryOriginally Posted By ranging-by-zipcode: Parts of Alaska no property tax Quote HistoryOriginally Posted By ranging-by-zipcode: Originally Posted By JLPettimoreIII: move to a free state? Parts of Alaska no property tax Wyoming is considering becoming a zero property and income tax state: https://www.wyoleg.gov/Legislation/2024/HB0203 |
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TN, USA
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Posted: 5/26/2024 7:58:07 AM EDT
[#41]
Quote HistoryOriginally Posted By 8nbait: What is your state income tax like? In WV property taxes are dirt cheap but our state income tax is high. WV also taxes SSI, most states don't. I pay property tax on vehicles as well. UPDATE: I just saw that TN has the highest sales tax of any state. THat is why your property tax is so low. No state income tax, no vehicle property tax. High sales tax does not insulate you from higher property taxes in TN. Property taxes vary a lot depending on where you live in the state. I pay under 1.5K while my friend pays over 4K, same property value and we live 45 minutes apart. If given a choice I'll stick with the higher sales tax. There is no way in hell I spend that difference in sales tax per year on a regular basis. |
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Posted: 5/26/2024 7:58:44 AM EDT
[#42]
Quote HistoryOriginally Posted By Extorris: A month? Whoops. Corrected. |
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Posted: 5/26/2024 8:13:09 AM EDT
[#43]
$8k for 6k SF and you're bitching?
Sounds like you got a steal on both properties. Be glad. |
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Posted: 5/26/2024 8:19:27 AM EDT
[#44]
Quote HistoryOriginally Posted By BikerNut: Our property taxes in suburban Cook County went up to $19,900 last year. Which is why we now live in Wisconsin. Fuck Cook County. That 1658.33 a month in property tax is more than what a premium two bedroom apartment costs here. You could pay off that house and you'd essentially be renting it from the government. |
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Posted: 5/26/2024 8:26:39 AM EDT
[#45]
Quote HistoryOriginally Posted By DayandNight1701: I'm sure an ARF boomer will shorty tell you why you're in your financial situation and how they avoided it with bootstraps. All jokes aside, my co-worker, from a family of property owners in Chicago had to sell everything and move to my AO because the property taxes starved them out. |
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NPL
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Posted: 5/26/2024 8:33:55 AM EDT
[Last Edit: 4thbreak]
[#46]
Counties set the property tax rate. Don't live near any large cities. Very few rural counties in free states have crazy property tax rates.
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Posted: 5/26/2024 8:37:48 AM EDT
[Last Edit: lazyengineer]
[#47]
Quote HistoryOriginally Posted By scopedope: My property taxes exceed my mortgage payment. I’m in Texas and need to move to a free state. This. Bitching about Propeety Tax to A Texan is a smile inducing convo. When I retire I basically will be forced out of my home - that's what property tax is like in Texas. |
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Posted: 5/26/2024 8:42:09 AM EDT
[#48]
States tax income, property and sales. Only exceptions happen with windfall energy revenues like AK where the state reaped a harvest from oil and gas and could try and attract other business and residents with no sales tax or income tax.
overall state tax burdens vary. FAIR taxation is difficult, you either punish property ownership, wage earners, or consumption. |
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Posted: 5/26/2024 9:06:17 AM EDT
[#49]
Quote HistoryOriginally Posted By 8nbait: What is your state income tax like? In WV property taxes are dirt cheap but our state income tax is high. WV also taxes SSI, most states don't. I pay property tax on vehicles as well. Property taxes are low BUT many counties have school or other levies that increase the real and personal property tax rates. Then there are the separate bills for the fire board, ambulance authority, stormwater runoff fee... it does add up. At least the personal property tax is now a fully refundable tax credit against the state income tax IF the county personal property tax is paid on time, which will take some of the sting out of the income tax bill. https://tax.wv.gov/Individuals/Pages/PersonalIncomeTaxReductionBill.aspx Also the income tax rate is slated to decrease over the next few years if revenues exceed a certain amount. https://mountainstatespotlight.org/2024/05/17/income-tax-trigger-west-virginia-special-session/ |
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Posted: 5/26/2024 2:04:37 PM EDT
[#50]
Alabama doesn't charge property tax for retired military on a homestead. But the tax on my second home on the beach actually went DOWN for some reason. I am not arguing with them over it...
I agree, your move to Free America will be a welcome change. |
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