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I'm sorry thread!! 
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Nov 15, 2016 17:15
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| # ? Jun 5, 2024 09:20 |
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Space Gopher posted:That said, $1000+ a month does seem high, unless you're talking about a million dollar property someplace that funds a lot of its government through property taxes. Or an average home in New Jersey (their property taxes are shockingly high). Property taxes can be weird and are very state by state. In my county in PA nothing has been reassessed since 1972 (or was that 74?) so any existing homes that are say.....1500 square feet will have a property tax bill of a few thousand a year while a brand new 1500 square foot house on the same amount of land will be triple that amount. I'm quite happy to live in an older home for this and many other reasons.
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Nov 15, 2016 17:19
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Derail bird is hopping mad this morning. 
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Nov 15, 2016 17:26
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Motronic posted:Or an average home in New Jersey (their property taxes are shockingly high). Property taxes can definitely be bad with money. I think that long term good with money involves living in a cheap house in a very high property tax / no income tax state and then retiring in an expensive house in a high income tax state. Prop taxes are about $1k/mo on an average house in Austin, TX for example. $1k/mo certainly doesn't feel extreme.
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Nov 15, 2016 17:35
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The Kestrel posted:Are property taxes very high in the states? We're paying just over 4k for the year on a four bedroom house just north of Toronto. $1000-1500 per month seems huge. Our condo had a rate of about 2500 per year for a $330k condo. Depends on the state, but it unusually works out to about 2% per year. A 330k condo would be 6600 / year-ish.
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Nov 15, 2016 17:39
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My parent's HOA only allows residents to use literally the most expensive shingles available when they replaced the roof on their house. The cost difference was $10,000 in materials between that and the still-nice-and-almost-identical middle of the road shingle option.
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Nov 15, 2016 17:39
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C.H.O.M.E posted:Depends on the state, but it unusually works out to about 2% per year. A 330k condo would be 6600 / year-ish.  and people keep trying to tell me that renting is throwing money away
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Nov 15, 2016 17:48
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Not a Children posted:
Also property taxes are usually a percentage of the assessed value of the property, and the assessing mechanism frequently has little or no checks or balances. If you get a ridiculously high assessment the best you can do is write an upset letter.
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Nov 15, 2016 17:53
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Not a Children posted:
You do realize that property taxes are baked into your rent price right?
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Nov 15, 2016 17:58
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Barry posted:You do realize that property taxes are baked into your rent price right? Of course, but the people who are all "renting is throwing money away!!!" are typically comparing mortgage payment to rent payment.
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Nov 15, 2016 17:59
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Nov 15, 2016 18:06
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Not a Children posted:
Lol "look at all these dumb suckers paying PROPERTY TAX" *writes rent check*
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Nov 15, 2016 18:29
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Not a Children posted:
You are already paying this as part of your rent, and your landlord has no homestead exemption on that rental property so the tax rate is higher.
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Nov 15, 2016 18:34
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I get to claim my property tax as a deduction on my income tax unlike you renters. Holy poo poo some of your tax assessments. A 300k home outside Atlanta is like $2500 a year. And yes, that buys us schools (31st in the nation).
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Nov 15, 2016 18:36
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Hm, people charge rent to make a profit? Who knew? I wasn't pointing out that it's different. I'm pointing out that it's not different. Except that if my landlord decides he wants to raise the rent and I'm not cool with it, moving away is an easy option.
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Nov 15, 2016 18:39
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I think some of you are vastly over-estimating the financial literacy of most amateur landlords. People are terrible at figuring out opportunity costs as evidenced by the past couple houses I lived in - they were cheaper to rent than buy after factoring in that, taxes, and maintenance. Throw in transaction costs, the higher tax rate of rental income vs capital gains, and a lot of people aren't doing as well as they might think. YMMV but banking on the financial acumen of others seems pretty out of place in this of all threads 
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Nov 15, 2016 18:54
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Barry posted:You do realize that property taxes are baked into your rent price right? I get the feeling the big conglomerate that owns my apartment complex has access to better tax-dodging skills than I do 
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Nov 15, 2016 18:57
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All these suckers not shoehorning four people into a cheap two bedroom. How do you manage?
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Nov 15, 2016 19:13
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Moneyball posted:All these suckers not shoehorning four people into a cheap two bedroom. How do you manage? 
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Nov 15, 2016 19:17
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Nov 15, 2016 19:32
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Property taxes are only loosely associated with your rent. Your rent is set based on the interaction of supply and demand in the rental market and a change in property taxes will only affect this isofar as it restricts future supply from entering the market and driving down rents, or alternatively is used to provide attractive services increasing demand in the local market. This is different from a commercial lease where the tennat will explicitly be on the hook for changes in property tax costs.
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Nov 15, 2016 19:43
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Do you guys actually hate derails or do you just like posting the bird?
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Nov 15, 2016 20:11
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a little of this, a little of that like no one gives a poo poo about your super low budget goony rear end wedding so please stop, but this derail in particular isn't The Worst
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Nov 15, 2016 20:15
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potatoducks posted:Do you guys actually hate derails or do you just like posting the bird? they're good birds, bront
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Nov 15, 2016 21:17
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KingSlime posted:a little of this, a little of that crazypeltast52 posted:Property taxes are only loosely associated with your rent. Your rent is set based on the interaction of supply and demand in the rental market and a change in property taxes will only affect this isofar as it restricts future supply from entering the market and driving down rents, or alternatively is used to provide attractive services increasing demand in the local market.
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Nov 15, 2016 21:34
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The HOA in my hood expired a long time ago. It's nice not having to worry about the lawn being perfect all the time (which it never will, due to the house across the street having a gas explosion and throwing debris into the front yard a few years ago, some of which is embedded into the ground), and throwing a garage sale without getting approval. It sucks that my next door neighbors have a Peyton Manning Flag above a Confederate Flag above an American Flag and twenty signs about shooting trespassers on their front lawn. Which is probably why the house was on the market for 21 days (LONG TIME IN 2015 DENVER), before we bought it. Oh, and our property tax is about 1K per year. We do have income tax, though.
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Nov 15, 2016 21:42
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blackmet posted:It sucks that my next door neighbors have a Peyton Manning Flag above a Confederate Flag above an American Flag and twenty signs about shooting trespassers on their front lawn. Which is probably why the house was on the market for 21 days (LONG TIME IN 2015 DENVER), before we bought it. Why don't you just drive your house to a new spot?
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Nov 15, 2016 21:47
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Droo posted:Why don't you just drive your house to a new spot?   
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Nov 15, 2016 21:52
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blackmet posted:The HOA in my hood expired a long time ago. That's pretty obnoxious. Think he'd take the Manning flag down?
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Nov 15, 2016 21:56
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$5,000 in gun related purchases to flip after a landslide Hillary victory. It's worth $4,000 now 
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Nov 15, 2016 22:01
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NancyPants posted:Isn't it funny how free we are in the US to do as we like and not pay high taxes compared to all those pinkos and commies abroad? I've never quite figured out how everyone in the US ends up paying so much tax for everything yet gets so little for the money collected. It's almost as if the state and federal Governments are going broke.
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Nov 15, 2016 22:03
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Devian666 posted:I've never quite figured out how everyone in the US ends up paying so much tax for everything yet gets so little for the money collected. It's almost as if the state and federal Governments are going broke. Who is paying so much taxes? US taxes are in general pretty low for a developed country. Despite being in the 28% marginal bracket, my effective federal income tax rate was about 17% last year. No tricks or loopholes. Long term capital gains are only 15%. My state has no income tax and the ~10% sales tax is still almost half of what most Euro countries have in VAT. It's regressive as hell, but benefits me hugely as a big saver. Property tax in the area is ~1.5%/yr which is not too bad, despite so many people complaining all the time. And assessed values always underrun market values, sometimes quite considerably. Even with some of the highest state/city gas taxes in the nation, our $3/gallon gas is still peanuts compared to most of the developed world. I'd gladly pay some more taxes if we got a universal healthcare system and strong safety net and regulatory institutions. Instead we play starve the beast and then point at the underfunded systems as failures, while buying more tanks for the Army who doesn't want them. Guinness fucked around with this message at 22:26 on Nov 15, 2016 |
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Nov 15, 2016 22:18
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Devian666 posted:I've never quite figured out how everyone in the US ends up paying so much tax for everything yet gets so little for the money collected. It's almost as if the state and federal Governments are going broke. Most (like 70%) of our federal taxes go to social security, medicare, and the military. You can argue about whether they are good or not, but if you are under 65 you don't get any benefit from social security or medicare, and the benefits we get from a strong military aren't something people really think about or can attribute dollars to in their everyday life. Also, people in the US don't really pay as much tax as they think they do compared to a lot of countries. I looked up NZ taxes just out of curiosity and it looks like you guys actually do pay less - but your retirement benefits look a little smaller than social security is on average to me, military is obviously cheaper. I assume you don't have a black hole sucking money in that you call a health care industry, and your sales tax is higher than most of ours (sales tax is a state thing). So to sum up, we give old people more stuff and we bulldoze giant piles of money into healthcare and the military.
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Nov 15, 2016 22:19
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To be fair the military acts as a giant social safety net for the poor. It isn't privileged families in the northern states forming the bulk of enlistment. A majority of the military budget goes to salaries and general operations.
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Nov 15, 2016 22:38
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GoGoGadgetChris posted:$5,000 in gun related purchases to flip after a landslide Hillary victory. Who? I want to buy discount guns from a desperate idiot whose plan didn't pan out.
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Nov 15, 2016 22:43
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cowofwar posted:To be fair the military acts as a giant social safety net for the poor. It isn't privileged families in the northern states forming the bulk of enlistment. A majority of the military budget goes to salaries and general operations. You and I have really different understandings of what a social safety net is.
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Nov 15, 2016 22:44
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Spermy Smurf posted:Who? I want to buy discount guns from a desperate idiot whose plan didn't pan out. Me. But I'm not desperate so this Idiot is going to keep it all. Dogfish posted:You and I have really different understandings of what a social safety net is. Holy lol seriously.
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Nov 15, 2016 22:44
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cowofwar posted:To be fair the military acts as a giant social safety net for the poor. It isn't privileged families in the northern states forming the bulk of enlistment. A majority of the military budget goes to salaries and general operations. I think that at its most charitable you mean "employment scheme" rather than safety net.
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Nov 15, 2016 22:54
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Dogfish posted:You and I have really different understandings of what a social safety net is. I have a bunch of co-workers who used the GI bill to get their degrees.
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Nov 15, 2016 22:58
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| # ? Jun 5, 2024 09:20 |
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Derail bird, where are you?
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Nov 15, 2016 23:01
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