QOTD 2/4

minionlover · February 2013

DH and I have been looking at houses because we are looking to buy something by the end of the year. In looking, I always check the taxes. It is something that I learned since I work in the county Real Property Tax Department. After seeing what the tax bills are, I get a little scared that we won't be able to afford buying a home.

So the question today is: If you own a home, what do you pay in property taxes? If you don't own a home and are planning to buy one, have you checked into how much you are going to pay in taxes?

mana8503 · February 2013

I just saw this in our tax stuff. We pay just under $2700/year. We have an FHA Loan so we pay it into escrow and they pay it twice a year (July and Dec). So, it's about $225/mon.

islandmonkey8 · February 2013

We pay $6200/year. Yay New Jersey being the highest property taxes in the nation! (Once we get some renovations done our taxes will likely be more like 8-10,000/year)

mpjf1001 · February 2013

ours are around $6700/year, we also have FHA so the mortgage company pays it for us through our escrow account. We have 3.2 acres and our house is only 2 years old, NY is not cheap either=(

ReyesToy · February 2013

I pay about $1800 a year here in AZ but it's a really small lot (0.11 acre). It's folded into my monthly mortgage payment so I barely notice it.

When I bought my house, I really did take that into account.

islandmonkey8 · February 2013

mpjf1001:
ours are around $6700/year, we also have FHA so the mortgage company pays it for us through our escrow account. We have 3.2 acres and our house is only 2 years old, NY is not cheap either=(

My $6200/year is on less than a 1/4 acre. I wish it was for 3.2!

sjs1013 · February 2013

We've just begun our home search. Most of the houses we've seen so far are between $7-10,000 without STAR. Luckily, everyone in NY apparently qualifies for STAR.

Taxes were a huge factor in what towns/cities we looked in. Most places around where I live are a minimum of $15,000 and definitely not for multiple acres. Oh Westchester county, NY, I love you!!

minionlover · February 2013

We are looking at about $5,000+ for taxes on the houses we are looking into. We are in Dutchess County, NY.

sjs1013 - Not everyone qualifies for Basic STaR but most people do. The state is cracking down on things and they have been changing the rules.

sjs1013 · February 2013

Thanks Cathy! I've spoken to 2 realtors (I'm not working with either) and they both told me they everyone qualifies. I guess they'll say anything, even to boost someone else's sale.