Yep.
Property taxes are insane.
I'm in Michigan, we're having a recession, and people here are routinely paying $800 and more per month for property taxes alone.
New Home Sales Plunge 36% in AZ, 34% in FL, and 29% In CA
- Thread starter ByLoSellHi
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Yep.
Property taxes are insane.
I'm in Michigan, we're having a recession, and people here are routinely paying $800 and more per month for property taxes alone.
About a $600,000 assessed value.
We pay about $32 per $2,000 of assessed value, just to make things simple.
And we're in a newer area, which has lower property taxes than some other established areas.
I know people that pay $45 per $2,000 of assessed value.
Yea, they say florida is good b/c no income tax, but property taxes, especially in South Florida are out of control. I am looking to sell my 4/2.5 house for another house roughly the same price. After moving you lose your homestead exemption and the taxes on the new house will be about 16k a year. I would love to sell my vaction home and my current home and just buy one larger one the value of the 2. Only problem with that is about a $28,000 tax bill.
People who bought lately in san diego (the bg holders), are paying $800-$900 a month in property taxes.
Thats on top of their $4000 mortage.
Oh and ps, these people only make about $120K a year combined (couples).
They are one job loss away from foreclosure in this hot san diego job market (sarcasm).
Thats on top of their $4000 mortage.
Oh and ps, these people only make about $120K a year combined (couples).
They are one job loss away from foreclosure in this hot san diego job market (sarcasm).