Is it worth paying $4,000 a year in property taxes?

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  • 4 weeks ago

    depends on the value of the house , $1m property might get a bill of $4,000 , a house worth $200,000 might get taxed $1,000. It sounds fair to me , anyway you dont complain about house insurance do you.

  • 4 weeks ago

    it depends on your income.  For some 4,000 is little, for others it's alot.

  • 4 weeks ago

    You may not have any choice. Property taxes are levied by "millage" (price per thousand dollars of value) on your property depending on several factors: school district, laws recently passed that add to your tax,  assessments like sewer/water or sidewalks/street repairs, and actual appraised value of the home and land and outbuildings. If you feel yours are too high, there are ways to reduce them. 

    (1) you can visit your local county appraisal office and attend a "hearing" (usually held several times a year) to debate the actual value--you'll need proof of why the house is over-valued if you do this. Sometimes it is age, or condition--or simply neighborhood problems. It can be almost any reason you want--but you'll need to prove it in the hearing--or at least bring evidence for reducing the value.

    (2) if you're an older person, you may be eligible for several programs that reduce taxes--the Homestead Exemption, the Reductions based on owner-occupancy are a couple. There may be others in your state. Ask your taxing authority what programs they have. 

    (3) LOOK AT YOUR TAX ASSESSMENT. These are mostly found online--not on your bill. Look and see what your rate is, your base tax, and whether or not there have been assessments for county or city maintenance or BACK taxes applied to your bill. There should be a list on the detailed view. You should be able to see charges for several years. 

    If there is no extra charge on your tax bill or if the house is valued at a large amount, then $4K a year may not be out of line for your area. But you have to do your own research about it. The high cost may be a temporary assessment, adjustment or other charge.

    You can also call the tax department and see if they have anyone who can go over the tax bill with you. 

  • 4 weeks ago

    It depends on the value of the property.  

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  • 4 weeks ago

    That would depend on your income, the property, etc,  Maybe it is, maybe it is not.

  • Scott
    Lv 7
    1 month ago

    Not in my opinion, which is why I live in a state where my property taxes are half that much.

  • 1 month ago

    What's your alternative?

    If you mean you'd rather rent than own, well, that $4k is built into your rent so you're paying anyway.

    If you mean do you get your money's worth, that's an age old question about government efficiency and spending.

    If you're talking about buying a specific property which has taxes of $4k a year, then that's a personal decision based on your income and desired lifestyle.  It very much can be worth it to many.  

  • Anonymous
    1 month ago

    Location,location ,location.

  • Anonymous
    1 month ago

    Where’s the property? What’s the size of the property? Are you satisfied with the property? 

  • A
    Lv 7
    1 month ago

    Depends on what you have for a home and community.  My taxes are a lot more and I live in a rural area, no sidewalks, street lights, fire hydrants, I have my own private well and septic,  but it is worth it to me to live here

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