Silverback
Lima Gulf Bravo Foxtrot Juliet Bravo
But we don’t pay state taxes. Just large property taxes.
Tinfoil Hat Wearers Unite
- Thread starter drew02a
- Start date
Oswego
n00b
That makes more sense. No sales or state income taxes?
I'm getting hit with 6.37% for state income tax & sales tax is at a little under 7%, but DE is an hrs drive away and they have no sales tax so thats avoidable if need be for most items.
Oswego
n00b
barter & cash keeps the tax man at bay
and if I try and sell my house and leave NJ, the NJ tax douchecanoe holds 8.9% of the profits or 2% of the selling price (whichever is higher - of course) to go towards the current years taxes owed. The seller MUST pay the tax even if the sale is NOT profitable. The state then takes that all into consideration at the end of the year when you file your return. If you lost money on the sale they will refund your money, but it could take over a year. Nice way to pile on the citizens. You are losing money on your sale and moving so you can keep food on the table - well here's more money you now owe that we may pay back to you a year from now. Total idiocracy IMHO.
TacoXpo
HOAX DENIER
A few friends sent me a few sound bite from todays hearings on the FBI agent testimony. We don't have cable and we are both not watching TV much if at all and it is a happy place for us. I woke up at 430am (we used to get up at 6 every morning and now we are waking up on our own at 5 am) to hear my sammich maker vacuuming the living room. 
She said she didn't want to wake me! 
Anyway, I heard all about it and figured none of us will hear about it through the national channels. I heard the FBI agent sent something like 50,000 derogatory texts on work phones about Trump. I hope someone gets shot but I doubt that will happen.
She said she didn't want to wake me! Anyway, I heard all about it and figured none of us will hear about it through the national channels. I heard the FBI agent sent something like 50,000 derogatory texts on work phones about Trump. I hope someone gets shot but I doubt that will happen.
achirdo
2WD FTW
That's the part that pisses me off the most. Not a whole lot makes me madder than to see elderly people live in a home for 50 years, paid off long ago, paid property taxes their whole lives, then get forced out because they can't afford the rising property taxes. Infuriating. If I'm ever elected to high office that's one of the first things I'd run on. You never truly own anything, the gov owns everything. That is so incredibly wrong.
Being a new home owner I've discovered almost all of my property taxes go to the schools. The schools I never plan on sending my kids to because of how incompetently they are run. I'll probably pay 500k in my life time for "free" public school I'll never send my kids too.
TacoXpo
HOAX DENIER
That is one reason I like the land of fruit and nuts. I have a home that I bought in 1985 for $116,400 - believe it or not the 400 was the seller wanted me to pay 400 more! I pay approximately 1.125% of an escalated value of about 230k. The home is currently worth about $550k. And being that I am 55+, I could move, buy a home for less than 550k - let's say 450 and I would be able to transfer that 230 basis to my new home.
Proposition 13 Then, Now and Forever
I pay approximately 1.125% of an escalated value of about 230k. The home is currently worth about $550k. And being that I am 55+, I could move, buy a home for less than 550k - let's say 450 and I would be able to transfer that 230 basis to my new home. Proposition 13 Then, Now and Forever
My mom just hired a guy to fight her property taxes this year because they went up so much...you know what the kicker is? The guy she hired is the former tax appraiser! Now how about that for a racket? He did his job and got her property taxes down enough thankfully.
My wife and I almost pulled the trigger on a house on the water but the property tax killed that deal. It was $30k a year in taxes, $21k of which went to the schools.
Mauzer
Pitter Patter. Lets Get at Er
achirdo
2WD FTW
They cap it from raising anymore at 65 if I'm not mistaken, not exempt
achirdo
2WD FTW
Went and read it. Not even as good as I thought it was. They only cap the school districts portion of the taxes, and offer you a 10k value deduction.
Silverback
Lima Gulf Bravo Foxtrot Juliet Bravo
I had a co-worker who's mom had lived on Lake Travis since the 1960's in a small house. She was well into her 80's back in 07 or so.. anyhow he was saying how that when she died and he got the property the tax would skyrocket because it had been capped for the past 20 years or so and Austin's housing market had gone crazy.
Mauzer
Pitter Patter. Lets Get at Er
Doh you’re right, it freezes them, sorry I’m off today and not in CPA mode. So when you’re 65 you fight to get your taxes as low as possible and then freeze them the following year.
***This is why I’m not responsible for any tax advice given on this forum***
***This is why I’m not responsible for any tax advice given on this forum***
TacoXpo
HOAX DENIER
FTFY
You are correct. Thanks for typing that out
TacoXpo
HOAX DENIER
Taco Loco
Tired and Lazy, married to ‘The Laundry Fairy’
You are correct. Thanks for typing that out
Storm & flood insurance and house insurance to cover fire on the coast is very expensive as well.