Major property tax increase across north carolina

[honest]

Property taxes globally are an issue, I no longer see property as a good investment going forward due to it being such an easy target for tax, the historical typical growth in property values going forward will be non existent or greatly reduced due to property taxes other related ongoing ownership costs along with low wage growth in western economies. Like every other vehicle for wealth over the last 30 years, the great american dream is dying or in the very least being restricted to less people every year.

[myt1]

Agreed,didn’t understand why you were saying.

Understandable.  I'm not exactly known for being concise when trying to make a point on here

[Marty Champions]

In NY I pay double every month on property taxes then I do more mortgage. But its ok because our schools are failing, our roads are shit, the state is one of the highest in debt.

[Straw Man]

Tax increases are inevitable for every city/state across the country.  The majority of state/government pension funds are very underfunded.  

I read California Governor Fairy Newsom is planning to repeal Prop 13 and wants to raise RE taxes statewide.  That will push even more businesses/jobs out of the state.  Libtard asswipes are intent on destroying everything.  

New Jersey governor Phil Murphy is planning to implement a "rain tax"... no joke.  Guess what party he belongs to?
https://nypost.com/2019/02/09/new-jersey-wants-to-tax-the-rain/

not sure where you read that

Prop 13 can't be repealed by the Governor and if the voters choose to amend it then it almost certainly won't touch residential property tax

https://www.mercurynews.com/2018/08/20/prop-13-could-be-partly-undone-in-2020-heres-what-you-should-know/

[Marty Champions]

Property taxes globally are an issue, I no longer see property as a good investment going forward due to it being such an easy target for tax, the historical typical growth in property values going forward will be non existent or greatly reduced due to property taxes other related ongoing ownership costs along with low wage growth in western economies. Like every other vehicle for wealth over the last 30 years, the great american dream is dying or in the very least being restricted to less people every year.

one winner is 'the city' , property owners are the losers..as well as the renters

[honest]

one winner is 'the city' , property owners are the losers..as well as the renters

I agree and usually rent is being paid or subsidised through tax relief or welfare in a lot of cases, starting to be two types of people in this world those who work, try and get ahead and pay taxes and those who receive them and the latter is growing faster forcing up taxes on the first group.  Governments answer to overpopulation, make the hardworking people pay. Thats why the democrats have the house they represent the second group, bleeding hearts and welfare recipients.

[karasan]

Property taxes globally are an issue, I no longer see property as a good investment going forward due to it being such an easy target for tax, the historical typical growth in property values going forward will be non existent or greatly reduced due to property taxes other related ongoing ownership costs along with low wage growth in western economies. Like every other vehicle for wealth over the last 30 years, the great american dream is dying or in the very least being restricted to less people every year.

What do you think about doom and gloom economists who predict USA will default and devaluate dollar.
I mean if such thing happens in not so distant future ownership of one property would be beneficial.
I dunno, world economy going south lately, hard to make sense of anything...

[Griffith]

I thought the US had low taxes 

[Primemuscle]

What?   Did you mean to type $.07235?  $.7235 per $100 would = $72,350 in taxes on a $100,000 home....which I'm assuming would be a pile of shit.

"Property taxes in North Carolina are assessed by each county. Property is assessed at 100% of appraised value, which is determined every four years in Forsyth County. The 2017-2018 property tax rate for Forsyth County is $0.7235 per $100 of valuation." http://www.wsbusinessinc.com/taxes/

Check your math. It appears you've miscalculated. By my calculations the tax for a property valued at $100,000 is $720.35 which seems fairly reasonable as compared to what they are where I live.

[myt1]

"Property taxes in North Carolina are assessed by each county. Property is assessed at 100% of appraised value, which is determined every four years in Forsyth County. The 2017-2018 property tax rate for Forsyth County is $0.7235 per $100 of valuation." http://www.wsbusinessinc.com/taxes/

Check your math. It appears you've miscalculated. By my calculations the tax for a property valued at $100,000 is $720.35 which seems fairly reasonable as compared to what they are where I live.

Derrr...ummm...I just took 100,000 x .7235.  That would be per dollar....my bad!   Went full  on that one.

[Hypertrophy]

I thought the US had low taxes 

It depends on the state you live in. New York state is ridiculously high tax. Arizona is not, for example.

[Coach is Back!]

It depends on the state you live in. New York state is ridiculously high tax. Arizona is not, for example.

What’s the property tax for homes in NY?

[SF1900]

What’s the property tax for homes in NY?

My friend pats between 10-12k for property tax.

[Coach is Back!]

My friend pats between 10-12k for property tax.

I mean what’s the percentage? For example, California is 1.25%

[Zillotch]

I mean what’s the percentage? For example, California is 1.25%

https://smartasset.com/taxes/property-taxes

[Coach is Back!]

https://smartasset.com/taxes/property-taxes

Freaking 1.9% damn

[myt1]

Freaking 1.9% damn

What would that turn your 24K into if you were there?

[Coach is Back!]

What would that turn your 24K into if you were there?

Didn’t calculate it but a hell of a lot more than here

[myt1]

Didn’t calculate it but a hell of a lot more than here

I realized after posting that was a bit too personal anyway.

I am curious to know..... if you're fine with saying, what size sq. footage are you paying that much tax on? 

[Coach is Back!]

I realized after posting that was a bit too personal anyway.

I am curious to know..... if you're fine with saying, what size sq. footage are you paying that much tax on? 

A little under 2400sqft. It’s expensive because we’re on a beach.

[myt1]

A little under 2400sqft. It’s expensive because we’re on a beach.

2,400, not 24,000 right?

Are you on a private island beach???

OMG..... you guys are making my head explode with these numbers

I was curious, and went to a real estate site.  I looked for a home at least 4,800 sq ft, because surely that would have taxes close to yours I thought...NOPE!

Keep in mind we do fully-finished walk out type basements here, but first one I found that was at least 2x yours was 5,067 sq. ft., built in 2015, no beach but the home association it's in has a man made lake that the homes surround..it's as close as we can get here, 6 beds, 5 baths, .62 acre lot, 1 2-car garage and a 1 car garage, a large upper deck with stairs to yard and concrete lower patio that spans the entire home up to the garages, and yours' and my favorite feature....a big glorious fenced-in backyard!
Cost: 995,000 OBO
2018 Tax: just over 14,400

Is the beach really that great Coach?  I don't know how many kids you have, but you could likely take at least two trips a year to the beach for a week each with that 10k couldn't you? 

I'm in no way trying to be an asshole here....I just have never been to Cali, and as neat as I envisioned it since I was 13 or so as a skateboarder and then bodybuilder, and a life-long tight ass when it comes to money...I'm just having a hard time understanding the cost/feature-benefit ratio?  Is it all they make it out to be in the movies or what, cuz after reading your posts on this thread, I don't get it???

[Coach is Back!]

2,400, not 24,000 right?

Are you on a private island beach???

OMG..... you guys are making my head explode with these numbers

I was curious, and went to a real estate site.  I looked for a home at least 4,800 sq ft, because surely that would have taxes close to yours I thought...NOPE!

Keep in mind we do fully-finished walk out type basements here, but first one I found that was at least 2x yours was 5,067 sq. ft., built in 2015, no beach but the home association it's in has a man made lake that the homes surround..it's as close as we can get here, 6 beds, 5 baths, .62 acre lot, 1 2-car garage and a 1 car garage, a large upper deck with stairs to yard and concrete lower patio that spans the entire home up to the garages, and yours' and my favorite feature....a big glorious fenced-in backyard!
Cost: 995,000 OBO
2018 Tax: just over 14,400

Is the beach really that great Coach?  I don't know how many kids you have, but you could likely take at least two trips a year to the beach for a week each with that 10k couldn't you?  

I'm in no way trying to be an asshole here....I just have never been to Cali, and as neat as I envisioned it since I was 13 or so as a skateboarder and then bodybuilder, and a life-long tight ass when it comes to money...I'm just having a hard time understanding the cost/feature-benefit ratio?  Is it all they make it out to be in the movies or what, cuz after reading your posts on this thread, I don't get it???

I love California and I couldn’t imagine living anywhere else but the beach. I was Born and raised here but even the wealthiest are leaving (I’m by no means wealthy) because the costs are becoming damn near astronomical. My wife is from Guam but most of her family live between Guam, Lexington and N. Carolina. We have been seriously considering moving to Guam with Kentucky being our second choice. The only thing that’s really keeping us is that we moved my mother closer to us and with her being 80, it would be difficult

[Primemuscle]

Derrr...ummm...I just took 100,000 x .7235.  That would be per dollar....my bad!   Went full  on that one.

No big deal. Happens to all of us at one time or another. 

[Primemuscle]

What’s the property tax for homes in NY?

The average is 1.68% of full value. Tax rates vary by city and county. NYC has a rather low tax rate of .85% NYC's property taxes are broken in to 4 classes, making calculations more complicated.

[Primemuscle]

Didn’t calculate it but a hell of a lot more than here

Californians passed proposition 13 in 1978 which greatly restricts property tax increases.

Proposition 13 required that properties be taxed at no more than 1 percent of their full cash value shown on the 1975-1976 assessment rolls and limited annual increases of assessed (taxable) value to the inflation rate or 2 percent, whichever was less. When a property is sold or transferred to new owners, however, the property is reassessed at 1 percent of its full cash value and the limit on increases to assessed value resets.

Oregonians passed Measure 5 in 1990, which is much less restrictive than California's limitation. More important is the total tax burden in a state, county or city. This takes all taxes into consideration. California's tax burden ranks 10th, Oregon ranks 28th and New York ranks 1st. Meaning they have the highest total tax burden. Alaska's pay the least in taxes of all the states.