I live in Tokyo. I have no idea how much property tax will be if I want to buy a home in US (California).
I know it is calculated based on the value of your home, but I need some ballpark estimates.
Is like it....$1000 USD a year? Is it as expensive as home insurance? Which can be between $900-$2000??
I have noooooo idea what so ever...
How much is Property Tax??
January 4th, 2007 at 10:57 am
January 4th, 2007 at 01:56 pm 1167919014
There is some rule (Prop. 13) they can only go up a certain percentage a year - a small percentage - which is key because in the last 20 years property values have gone up 1000%. The elderly were losing their homes and such so they capped it, for now anyway.
I live in California, just let me know if you have other questions!
January 4th, 2007 at 01:57 pm 1167919076
January 4th, 2007 at 02:00 pm 1167919259
January 4th, 2007 at 02:21 pm 1167920486
monkeymama, you are right about properties no less than $400k! It is insane, isn't it?
And mbkonef, thanks for the info. How did you guys come about being a home owner?
I understand the process of it all, i mean, it is good to own rather than to rent, and it builds up equity. But.....having said that, the stress, the process of obtaining a home must have been crazy..
What about unexpected repair costs? Are there assistance at all? Wow..
wow....just seems so difficult...
January 4th, 2007 at 03:21 pm 1167924104
Just so you know, much of the rest of the United States are lower. For example, the average, modest single family home in North Carolina is around $150k.
January 4th, 2007 at 05:29 pm 1167931781
I own a small (1650 sf) home currently valued at about $410,000. My homeowners is $781 (its gone way up over the past 10 years and i don't live anywhere near the ocean) and my property tax is about $5,500 a year.
Not cheap!
January 4th, 2007 at 09:29 pm 1167946189
January 4th, 2007 at 11:48 pm 1167954488
January 5th, 2007 at 03:25 am 1167967545
January 6th, 2007 at 12:00 pm 1168084854
It seems almost impossible to own a home then eh? I mean, the cost is so high, and not to mention one must make repairs out of one's own pockets. That is insane.
But not owning a home is also not good financially....so it is like a double-edged financial sword.....ekkkk...
April 13th, 2007 at 08:05 pm 1176494742
March 12th, 2008 at 03:03 am 1205291027
July 16th, 2010 at 11:57 pm 1279324625
"Do I have to pay for repairs?"
Only if you want YOUR house to work!!!!!
Who did you think was going to fix it?!!!!
Let me burn another one.........