lots of millennials looking to burbs for homes and big suvs
08-31-17 | 01:22 PM
#136
Lexus Fanatic
Joined: May 2012
Posts: 57,970
Likes: 2,781
From: Maryland
Originally Posted by Johnhav430
It's all relative, isn't it? imho they are fortunate to have livelihoods that can support the taxes, seriously. Back in 2006, the low property taxes were a selling point on brand new homes for sale in Westfield, NJ. They were asking 1.6, yet at the time only had $18k taxes on a new construction. Of course that 18k number sailed long ago...btw my uncle taught me never pay to escrow, pay yourself, collect interest in the meantime...in my travels I had found some banks charge 1/8 more when the customer wants to pay themselves, but not all....
I have no issue with Escrows. Anyways Hardly any lender will let you pay your own taxes without very low LTV.
08-31-17 | 03:17 PM
#137
Yes taxes are a killer.
Looking at potentially moving to Long Island (North Shore) for the better schools compared to NYC as my daughter will be starting preK. Any decent houses are all at 20k or more per year.
Benefit is i will no longer have to pay NYC income tax on top of Federal, State, and NYC property tax. There is just no end to it......
Looking at potentially moving to Long Island (North Shore) for the better schools compared to NYC as my daughter will be starting preK. Any decent houses are all at 20k or more per year.
Benefit is i will no longer have to pay NYC income tax on top of Federal, State, and NYC property tax. There is just no end to it......
08-31-17 | 03:21 PM
#138
I have friends/coworkers who in S Jersey pay around 15k in property taxes, and they quite modest homes (< 2000 sq. ft. split built in the 60's). The killer imho isn't so much the amount, but what you are getting, is it roads? Schools? Public services? What? Prolly helping the northern part of the state...lol
But you're spot on with the time factor, I messed that one up.
But you're spot on with the time factor, I messed that one up.
08-31-17 | 03:39 PM
#139
08-31-17 | 03:47 PM
#140
Instructor
Joined: Oct 2016
Posts: 857
Likes: 47
From: Oregon
Holy cow, I never realized property taxes could be so high.
Here in Oregon, wife and I are lucky to live in a million-dollar house, and our property tax is about $9,000 a year. A property-tax limitation was passed about 20 years ago, and part of the law was a limit of 3% annual increase. Oregon property values have risen a lot faster than that, so I guess we are getting a bargain.
State income tax, though, is about 10%. On everything. Including cap gains.
Here in Oregon, wife and I are lucky to live in a million-dollar house, and our property tax is about $9,000 a year. A property-tax limitation was passed about 20 years ago, and part of the law was a limit of 3% annual increase. Oregon property values have risen a lot faster than that, so I guess we are getting a bargain.
State income tax, though, is about 10%. On everything. Including cap gains.
08-31-17 | 03:49 PM
#141
Holy cow, I never realized property taxes could be so high.
Here in Oregon, wife and I are lucky to live in a million-dollar house, and our property tax is about $9,000 a year. A property-tax limitation was passed about 20 years ago, and part of the law was a limit of 3% annual increase. Oregon property values have risen a lot faster than that, so I guess we are getting a bargain.
State income tax, though, is about 10%. On everything. Including cap gains.
Here in Oregon, wife and I are lucky to live in a million-dollar house, and our property tax is about $9,000 a year. A property-tax limitation was passed about 20 years ago, and part of the law was a limit of 3% annual increase. Oregon property values have risen a lot faster than that, so I guess we are getting a bargain.
State income tax, though, is about 10%. On everything. Including cap gains.
09-01-17 | 07:34 AM
#145
Lexus Fanatic
Joined: Sep 2016
Posts: 8,491
Likes: 372
From: PA
Interesting to see homes that straddle the Queens/LI border, NYC is much less expensive from what I was told....
09-01-17 | 07:39 AM
#146
Lexus Fanatic
Joined: Sep 2016
Posts: 8,491
Likes: 372
From: PA
Holy cow, I never realized property taxes could be so high.
Here in Oregon, wife and I are lucky to live in a million-dollar house, and our property tax is about $9,000 a year. A property-tax limitation was passed about 20 years ago, and part of the law was a limit of 3% annual increase. Oregon property values have risen a lot faster than that, so I guess we are getting a bargain.
State income tax, though, is about 10%. On everything. Including cap gains.
Here in Oregon, wife and I are lucky to live in a million-dollar house, and our property tax is about $9,000 a year. A property-tax limitation was passed about 20 years ago, and part of the law was a limit of 3% annual increase. Oregon property values have risen a lot faster than that, so I guess we are getting a bargain.
State income tax, though, is about 10%. On everything. Including cap gains.
You guys have mandatory full serve, right? When will it be abolished, I hate attendants doing it (NJ), and it slows everything down....
09-01-17 | 08:08 AM
#147
Lexus Test Driver
Joined: Feb 2002
Posts: 7,271
Likes: 70
From: New York
NJ residents dont have to pay this i think. I know if you live in Long Island but work in NYC - you dont pay any NYC income tax.
The homes in good areas of Queens are very expensive compared to LI especially if you compare by property size.
There are attached homes/row houses that are much cheaper though or ones in "worse" neighborhoods.
09-01-17 | 01:58 PM
#148
Instructor
Joined: Oct 2016
Posts: 857
Likes: 47
From: Oregon
Oregon actually has a wide variety of homes, and quite a few executives at places like Intel and Nike can afford some pretty fancy homes. I've attached a photo of our home, a pretty simple affair. I have absolutely no doubt that one day when we sell the new owner will have bulldozers on the premises within the first few weeks in preparation for a fancy new home--the land is worth far more than the old house. Homes on the lake can easily run $5mil+. That's daughter and her dog ("Daisy from Kentucky") on the dock.
The neighborhood has changed markedly in the 25 years we've been here. LOTS of young professionals with Beemers, Mercedes, and Lexi. Until buying our new/old 2010 RX450h last October I'd never noticed, but it seems that every 5th car is an RX.
No sales tax in Oregon but income tax is ~10% and they tax cap gains at the rate, too. Lovely summers, dreary grey drizzly winters.
Yes, Oregon is one of two states that mandates full-service-only gasoline stations. Some locals actually get angry if you challenge the idea. I'm resigned to the fact that it probably adds a nickel to each gallon of gas. There are bumper stickers that read "Keep Portland Weird" and they are dead serious.
EDIT: Given the gigantic losses taking place in the Houston area, I woke up this morning and thought my posting of our home (comfortable, but by no means fancy) here to be inappropriate, so I took the photo down. Anyway, sending thoughts and prayers to those poor folks. Wife has a sister living in that area, and we haven't heard back from her yet.
The neighborhood has changed markedly in the 25 years we've been here. LOTS of young professionals with Beemers, Mercedes, and Lexi. Until buying our new/old 2010 RX450h last October I'd never noticed, but it seems that every 5th car is an RX.
No sales tax in Oregon but income tax is ~10% and they tax cap gains at the rate, too. Lovely summers, dreary grey drizzly winters.
Yes, Oregon is one of two states that mandates full-service-only gasoline stations. Some locals actually get angry if you challenge the idea. I'm resigned to the fact that it probably adds a nickel to each gallon of gas. There are bumper stickers that read "Keep Portland Weird" and they are dead serious.
EDIT: Given the gigantic losses taking place in the Houston area, I woke up this morning and thought my posting of our home (comfortable, but by no means fancy) here to be inappropriate, so I took the photo down. Anyway, sending thoughts and prayers to those poor folks. Wife has a sister living in that area, and we haven't heard back from her yet.
Last edited by riredale; 03-05-18 at 01:48 PM.
03-05-18 | 08:52 AM
#150