Having just returned from 3 weeks in AZ, we quite like the idea of buying a house there. Looking at some places, on-line, I see a monthly property tax of 5-600 dollars!! That seems like a lot of money to me. Can someone explain it to me?
thanks.
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Having just returned from 3 weeks in AZ, we quite like the idea of buying a house there. Looking at some places, on-line, I see a monthly property tax of 5-600 dollars!! That seems like a lot of money to me. Can someone explain it to me?
thanks.
Sure it's monthly? Property taxes are typically billed yearly, with the option to pay the first six months at due date, balance midyear.
Some places just have insane property taxes though. Others have little to non, but high sales and income, some have no income, some have no sales tax. Hmm, not sure if that last one is still true. Anyhow, there's a lot of variation in tax schemes and one has to be careful to inspect all the systems in place in a particular area.
It said monthly in the advertising blurb. I was looking at Cottonwood AZ. But if that is the monthly cost, just for tax, then I'll give up on the idea.
Must have been a nice house or someone was putting you on, the average income in that area isn't very high - nor should it be as the area is named after a softwood tree. We yanks are incredibly transparent in our encoding - harder the wood of the tree, earlier the neighborhood. Almost never find a Hickeryville except for small southern hamlets. Lots of Oakvilles. Also we had a tradition of assigning trees for streets and presidents for boulevards. Washington and Oak gets you to the courthouse in an amusing number of cities. Grover and Pine is always a suburb.
Cottonwood isn't a glamorous tree in these parts, a nuisance tree really good for wood pulp in the 1880s before distribution routes made pine the king of wood pulp - only a section that used to be five miles out of town was named for it. Might carry slightly different meaning in AZ. Anyhow, enough about presidents and trees.
Very interesting. Apparently it was named by soldiers at nearby Camp Verde, as it had a stand of Cottonwood trees there. It was one of the biggest moonshine brewers in the prohibition.
Is there a link? Maybe someone here can figure out what they're supposed to mean. Either that or we can all have a laugh. Only thing I can see for that much "tax" per month would be monthly fees for a gated community.
My property taxes are billed quarterly.Quote:
Originally Posted by Odd
Trojan, perhaps they just broke the total down into monthly amounts so the buyer would be able to better estimate monthly expenses. Also, a total annual tax of $6000-$7200 might not be that unusual (depending on the property and the area). My annual property taxes are just under $5000.
Mother of God that's high. Less than $2K for me a year.Quote:
Originally Posted by Buttercup
Indeed it is. That's why many from NJ tend to move to PA.Quote:
Originally Posted by Five-0
You're both screwed. Mine is about $100.Quote:
Originally Posted by Five-0
Mine are about 2,100, ANNUALLY. Not monthly.
The only property taxes around me that are $7,200 a year or more are industrial, retail, big ass mansions, humongous factory farms, etc. A standard residential home for taxes like that isn't worth it.
Wow, that does seem a bit ridiculous. Mine are around 1200 a year, and escrowed in to my mortgage. I never see it.
Mine are annually as well. I want to say around 1500-1600 bucks. Collected in escrow along with the insurance with my mortgage.
As Five-0 mentioned, they are typically included in your mortgage escrow. You pay them monthly, but your bank pays the county once, twice, or four times per year.
Property tax for my current house ( 1200 sq/ft, .25 acre lot, suburb ) is about $450/yr. Property tax for the home we're currently purchasing ( assuming everything works out ) will be about $650/yr. House is 2,500 sq/ft, 5 acre lot, rural.
Now sales tax on the other hand...
My old area was about $500-$1000.00 a month for property taxes for average homes. That's why no one can afford anything there.
About 800 annually here for 3k sq feet on roughly 1/4 acre suburb lot.
Well I would have been a cash buyer, but guess I'll give up on that idea then.
Makes our council tax seem not that bad after all.
And to think, property tax is one of the easier ones to figure out. Income tax is what gives us ulcers on April 15th.