How can you guys afford house taxes?

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Looking through the house tax thread. There is no way that I could do $1K or so per month house taxes. Even with my working 2 jobs. Sure I pay more for gas and car registration but no where near $12000 a year.
 
Yes, but some of those states have lower income taxes, sales taxes, etc. In CA, property tax is around 1.25% of assessed value. Sales tax is around 7.50% or so and CA income tax up to 10% (highest tax bracket). I would argue have to look at total cost to learning anything. I forgot the gas taxes and DMV fees...depressing.
 
Most families here need two working parents. Even with two working parents its a struggle for people to afford more than 1 kid it seems like. NY socialism kills quality of life. The rest of the families here must have 0 working parents and get free housing, food, healthcare, education, etc . . .
 
Sweet Moses. My property tax was $2,300 last year in a Minneapolis suburb. A benefit of a small, cheap house I guess. For reference, purchase price was $183k in 2008. Sold at the end of 2017 for $260k
 
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If 2 adults are working they should be able to afford taxes.
Nice neighborhood = higher taxes.

Few want to live in a ghetto just to pay low taxes.
 
Sales tax here is 7.4%. NY state income tax maxes out at 8.82% if your city doesn't have an income tax on top of that.
 
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How can you guys afford house taxes?


Well, the same way I afford everything I do - I spend less than I make!
grin.gif


But really, they aren't all that bad. Affording taxes is probably only a concern if you bought more house than you could afford.
 
If a grand a month for taxes is too much stay away from Nassau county Long Island. Any good area in Nassau is going to cost a grand a month or more for taxes.
 
Originally Posted By: Mr Nice

Few want to live in a ghetto just to pay low taxes.


I don't live in a ghetto... just VERY rural/remote with a partial "agricultural/timber exemption"
 
Originally Posted By: mbacfp
Yes, but some of those states have lower income taxes, sales taxes, etc. In CA, property tax is around 1.25% of assessed value. Sales tax is around 7.50% or so and CA income tax up to 10% (highest tax bracket). I would argue have to look at total cost to learning anything. I forgot the gas taxes and DMV fees...depressing.


You forgot to mention the "price of admission" in California real estate is easily $400,000.00

Those paying low real estate taxes in California have lived in their house a very,very long time. Very, very few (with the influx of new population) are seeing the benefits of prop 13 (which originally a way to keep the elderly from being evicted due to property taxes they couldn't afford).
 
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Originally Posted By: emmett442
Quote:
How can you guys afford house taxes?


Well, the same way I afford everything I do - I spend less than I make!
grin.gif


But really, they aren't all that bad. Affording taxes is probably only a concern if you bought more house than you could afford.


+1 They are factored into whatever your monthly payment will be. If you can afford it, great. If you can't afford it, you can't afford it. Have known too many people who thought they could afford more than they could. Being "house poor" sucks.
 
Originally Posted By: Chris142
Looking through the house tax thread. There is no way that I could do $1K or so per month house taxes. Even with my working 2 jobs. Sure I pay more for gas and car registration but no where near $12000 a year.


You know that taxes are usually paid twice a year right? Not monthly. Mine are $2k per year. I'm sure some people pay plenty more than that, but not many pay $2k a MONTH.
 
It's a complicated question but simply - you need to make the income necessary to support the payment. There are not people making $15 an hour entering the housing market around here. I think comfortably you need a 1:1 ratio of income level to price (because of the taxes), but most of the country is closer to 2:1.
 
What amazes me is how people that move here to NC think yet another increase is just fine because back in NJ they are higher. Hello, the taxes paid in other areas are too high due to massive waste and public sector unions.
 
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