Ruling re: my lame town: is a POD a "dumpster" (1 Viewer)

[Sand]

I live in the burbs of Chicago. An older 4bd/3bath house in need of renovation on an acre lot in a good school district starts at 500k. If it's newer, renovated and done with high end finishes, it would be 700k+. That same house in the North Shore here (similar proximity to the city and cultural feel to Long Island) would be 2mil+.

Property taxes on above home are from 12k-25k per year.

We are moving to Minneapolis area next year, in part because of COL and a desire to get away from Illinois taxes, politics, traffic etc. The same house in the nicer outer suburbs as above wouldn't be that much less (maybe 20% less, from 350-500k) but property taxes would be about 2,500-3,500.

I've estimated that the savings on property taxes alone will average 10k. That's 250k over 25 years. I can send both kids to college on the savings from property taxes alone.

/endhijak

That is super cheap property taxes. I'm paying nearly $8,000 on a $300,000 house

Jesus.

My in laws pay 15k on a 2500 sq ft home on a 1/3 acre lot here.

Good grief. No wonder northerners are flocking south. Here a 300k house would be $1,250 or so in taxes.

It's just the Chicago area. The rest of the Midwest isn't anywhere near that bad.

Well, good thing all those taxes have driven the crime rate down to nothing.

 

[Otis]

Some of these towns in LI and Westchester with the top public school districts have property taxes in the 30k-60k range. Seriously.

 

[xulf]

Ohio land is valuable...what can I say.

 

[mr roboto]

^Actually crime is nearly nonexistent in the areas I'm referencing. But go ahead and think that a metro area with 9 million people is all just like the south side of Chicago.

 

[fantasycurse42]

I live in the burbs of Chicago. An older 4bd/3bath house in need of renovation on an acre lot in a good school district starts at 500k. If it's newer, renovated and done with high end finishes, it would be 700k+. That same house in the North Shore here (similar proximity to the city and cultural feel to Long Island) would be 2mil+.

Property taxes on above home are from 12k-25k per year.

We are moving to Minneapolis area next year, in part because of COL and a desire to get away from Illinois taxes, politics, traffic etc. The same house in the nicer outer suburbs as above wouldn't be that much less (maybe 20% less, from 350-500k) but property taxes would be about 2,500-3,500.

I've estimated that the savings on property taxes alone will average 10k. That's 250k over 25 years. I can send both kids to college on the savings from property taxes alone.

/endhijak

That is super cheap property taxes. I'm paying nearly $8,000 on a $300,000 house

Jesus.

My in laws pay 15k on a 2500 sq ft home on a 1/3 acre lot here.

Good grief. No wonder northerners are flocking south. Here a 300k house would be $1,250 or so in taxes.

It's just the Chicago area. The rest of the Midwest isn't anywhere near that bad.

We were looking at houses in North Jersey - Montclair & Livingston... $750k home, 1/3 acre - $25-$30k annual taxes. It's unreal and it's just gonna get much worse.

 

[Sand]

^Actually crime is nearly nonexistent in the areas I'm referencing. But go ahead and think that a metro area with 9 million people is all just like the south side of Chicago.

It was a cheap swipe. But for that kind of money they should have Robocop running around the neighborhoods turning any potential criminals into red mist.

 

[mr roboto]

I live in Lake County, the county north of Cook and south of the Wisconsin border. Our prop taxes are very high. Cook county is better, but their sales tax is asinine.

Many people try to buy a house in suburban Cook and drive into Lake to shop, get gas etc.

 

[fantasycurse42]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

 

[dparker713]

300K house in Louisiana wouldn't be paying more than $2500-3000 in property taxes per year wherever you live in the state.

Most places it would be under $1500.

Yeah, but then you'd be living in Louisiana

 

[Sand]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

Almost breakeven with getting a place in the sticks that has a helipad.

 

[fantasycurse42]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

Almost breakeven with getting a place in the sticks that has a helipad.

It's really un####ing believable... I could give you a list of 50 towns and they're all just like this - $500k homes are like $18-$25k in taxes. There are prob only a few places this bad in property taxes in the country.

 

[Otis]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

At 3300 sqft and the condition it looks to be in, that's neither old nor small for some neighborhoods around here. I spent about that for a house that is just 2200 swft, only 3 BR, and is in much worse shape than that one looks to be.

So it's actually a lot worse in many areas than even your example.

My wife and I actually looked at a place in our town on the market for 1.6MM, 3 BR, and a total dump on the inside. Awful. But the inventory is nil and people are desperate and prices are absurd. This 1.6MM listing won't sell for that, but it's things like that on the market that made our house at around 1.1MM seem like a total steal.

 

[xulf]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

Wow, sold for twice as much in 05.

 

[Otis]

One of the highest end towns on LI, about an hour door to door commute to Manhattan, about a cool million gets you just over 2000sqft in an oldish house.

Link

 

[Henry Ford]

300K house in Louisiana wouldn't be paying more than $2500-3000 in property taxes per year wherever you live in the state.

Most places it would be under $1500.

Yeah, but then you'd be living in Louisiana

Plot twist: I already am.

 

[fantasycurse42]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

At 3300 sqft and the condition it looks to be in, that's neither old nor small for some neighborhoods around here. I spent about that for a house that is just 2200 swft, only 3 BR, and is in much worse shape than that one looks to be.

So it's actually a lot worse in many areas than even your example.

My wife and I actually looked at a place in our town on the market for 1.6MM, 3 BR, and a total dump on the inside. Awful. But the inventory is nil and people are desperate and prices are absurd. This 1.6MM listing won't sell for that, but it's things like that on the market that made our house at around 1.1MM seem like a total steal.

The old and small may be a stretch, but my point was more about the taxes. $850k home paying $2,800 a month in taxes is insanity! Also, that was 2012, prob went up.The western Long Island, Westchester, CT, & North Jersey markets are all very comparable. You are either paying out of the ### for the house or the taxes, or most places both. All in all, the monthly payments in these markets for similar houses are close to each other.

 

[xulf]

300K house in Louisiana wouldn't be paying more than $2500-3000 in property taxes per year wherever you live in the state.

Most places it would be under $1500.

Yeah, but then you'd be living in Louisiana

Plot twist: I already am.

:headexplode:

 

[dparker713]

300K house in Louisiana wouldn't be paying more than $2500-3000 in property taxes per year wherever you live in the state.

Most places it would be under $1500.

Yeah, but then you'd be living in Louisiana

Plot twist: I already am.

It really is amazing what people can become accustomed to.

 

[Henry Ford]

I would lose my mind if my property taxes were that high.

 

[dparker713]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

At 3300 sqft and the condition it looks to be in, that's neither old nor small for some neighborhoods around here. I spent about that for a house that is just 2200 swft, only 3 BR, and is in much worse shape than that one looks to be.

So it's actually a lot worse in many areas than even your example.

My wife and I actually looked at a place in our town on the market for 1.6MM, 3 BR, and a total dump on the inside. Awful. But the inventory is nil and people are desperate and prices are absurd. This 1.6MM listing won't sell for that, but it's things like that on the market that made our house at around 1.1MM seem like a total steal.

The old and small may be a stretch, but my point was more about the taxes. $850k home paying $2,800 a month in taxes is insanity! Also, that was 2012, prob went up.The western Long Island, Westchester, CT, & North Jersey markets are all very comparable. You are either paying out of the ### for the house or the taxes, or most places both. All in all, the monthly payments in these markets for similar houses are close to each other.

All the more reason to rent. And to not have children.

 

[Henry Ford]

300K house in Louisiana wouldn't be paying more than $2500-3000 in property taxes per year wherever you live in the state.

Most places it would be under $1500.

Yeah, but then you'd be living in Louisiana

Plot twist: I already am.

It really is amazing what people can become accustomed to.

I know, right? $25,000 a year in property taxes? And you can't even get fresh gulf shrimp?

 

[dparker713]

300K house in Louisiana wouldn't be paying more than $2500-3000 in property taxes per year wherever you live in the state.

Most places it would be under $1500.

Yeah, but then you'd be living in Louisiana

Plot twist: I already am.

It really is amazing what people can become accustomed to.

I know, right? $25,000 a year in property taxes? And you can't even get fresh gulf shrimp?

In NYC? I can get fresh anything.

 

[xulf]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

At 3300 sqft and the condition it looks to be in, that's neither old nor small for some neighborhoods around here. I spent about that for a house that is just 2200 swft, only 3 BR, and is in much worse shape than that one looks to be.

So it's actually a lot worse in many areas than even your example.

My wife and I actually looked at a place in our town on the market for 1.6MM, 3 BR, and a total dump on the inside. Awful. But the inventory is nil and people are desperate and prices are absurd. This 1.6MM listing won't sell for that, but it's things like that on the market that made our house at around 1.1MM seem like a total steal.

The old and small may be a stretch, but my point was more about the taxes. $850k home paying $2,800 a month in taxes is insanity! Also, that was 2012, prob went up.The western Long Island, Westchester, CT, & North Jersey markets are all very comparable. You are either paying out of the ### for the house or the taxes, or most places both. All in all, the monthly payments in these markets for similar houses are close to each other.

All the more reason to rent. And to not have children.

Sounds like you are looking for ways to avoid tax deductions.

 

[dparker713]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

At 3300 sqft and the condition it looks to be in, that's neither old nor small for some neighborhoods around here. I spent about that for a house that is just 2200 swft, only 3 BR, and is in much worse shape than that one looks to be.

So it's actually a lot worse in many areas than even your example.

My wife and I actually looked at a place in our town on the market for 1.6MM, 3 BR, and a total dump on the inside. Awful. But the inventory is nil and people are desperate and prices are absurd. This 1.6MM listing won't sell for that, but it's things like that on the market that made our house at around 1.1MM seem like a total steal.

The old and small may be a stretch, but my point was more about the taxes. $850k home paying $2,800 a month in taxes is insanity! Also, that was 2012, prob went up.The western Long Island, Westchester, CT, & North Jersey markets are all very comparable. You are either paying out of the ### for the house or the taxes, or most places both. All in all, the monthly payments in these markets for similar houses are close to each other.

All the more reason to rent. And to not have children.

Sounds like you are looking for ways to avoid tax deductions.

Seeing as I'd much rather pay cap gains than income taxes, I kinda am.

 

[Henry Ford]

300K house in Louisiana wouldn't be paying more than $2500-3000 in property taxes per year wherever you live in the state.

Most places it would be under $1500.

Yeah, but then you'd be living in Louisiana

Plot twist: I already am.

It really is amazing what people can become accustomed to.

I know, right? $25,000 a year in property taxes? And you can't even get fresh gulf shrimp?

In NYC? I can get fresh anything.

We have different definitions of "fresh." When my neighbor pulls in a load of shrimp in the morning and stops by my house on the way home to hand me five pounds of shrimp, that's fresh.

 

[ragincajun]

300K house in Louisiana wouldn't be paying more than $2500-3000 in property taxes per year wherever you live in the state.

Most places it would be under $1500.

Yeah, but then you'd be living in Louisiana

Plot twist: I already am.

Right there with you brother. In BR.

 

[ragincajun]

http://www.zillow.com/blog/highest-and-lowest-property-taxes-149303/

 

[fantasycurse42]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

At 3300 sqft and the condition it looks to be in, that's neither old nor small for some neighborhoods around here. I spent about that for a house that is just 2200 swft, only 3 BR, and is in much worse shape than that one looks to be.

So it's actually a lot worse in many areas than even your example.

My wife and I actually looked at a place in our town on the market for 1.6MM, 3 BR, and a total dump on the inside. Awful. But the inventory is nil and people are desperate and prices are absurd. This 1.6MM listing won't sell for that, but it's things like that on the market that made our house at around 1.1MM seem like a total steal.

The old and small may be a stretch, but my point was more about the taxes. $850k home paying $2,800 a month in taxes is insanity! Also, that was 2012, prob went up.The western Long Island, Westchester, CT, & North Jersey markets are all very comparable. You are either paying out of the ### for the house or the taxes, or most places both. All in all, the monthly payments in these markets for similar houses are close to each other.

All the more reason to rent. And to not have children.

Rent in my neighborhood is averaging a gazillion dollars per square foot - There is no winning in the NYC DMA.

 

[dparker713]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

At 3300 sqft and the condition it looks to be in, that's neither old nor small for some neighborhoods around here. I spent about that for a house that is just 2200 swft, only 3 BR, and is in much worse shape than that one looks to be.

So it's actually a lot worse in many areas than even your example.

My wife and I actually looked at a place in our town on the market for 1.6MM, 3 BR, and a total dump on the inside. Awful. But the inventory is nil and people are desperate and prices are absurd. This 1.6MM listing won't sell for that, but it's things like that on the market that made our house at around 1.1MM seem like a total steal.

The old and small may be a stretch, but my point was more about the taxes. $850k home paying $2,800 a month in taxes is insanity! Also, that was 2012, prob went up.The western Long Island, Westchester, CT, & North Jersey markets are all very comparable. You are either paying out of the ### for the house or the taxes, or most places both. All in all, the monthly payments in these markets for similar houses are close to each other.

All the more reason to rent. And to not have children.

Rent in my neighborhood is averaging a gazillion dollars per square foot - There is no winning in the NYC DMA.

Thing that I marvel at are the people that work low paying jobs like food service or maintenance that work in Manhattan. Even the ghettos seem pricey, plus commuting ain't cheap.

 

[Britney Spears]

Curious why the move. Seemed like a great house.

Variety of reasons:

- Outgrowing this house

- This house is old and very creaky/warping

- This house needs lots of work, which work we concluded would be too extensive and too much of a PIA to live through given what we want

- This house is on a big hill, which is awesome for views and light, less awesome for toddlers

- The town we are looking at is a bunch closer to family and other conveniences (shopping, beaches, etc.)

- The schools here are decent, but the schools in the town we are considering are top notch

- I've had some promotions at my job which allow us to double our budget and get something a bunch bigger and a bunch newer

Inspection today went well enough. Buyers want to close ASAP. We'll need to find a rental to chill in until we find our next house. Full speed ahead.

Mods, please change the thread title to "Otis new house thread"

Makes sense. I am sure I've mentioned, but in a same family stage as you. Questions emerging about the house we live in as the one for the long haul.

Funny, we are on a big hill (300 foot cliff on one side) too, which seemed awesome before the kid.

 

[bigbottom]

I love New York, and really enjoyed the time I spent there, but am really glad I didn't build my career there. That said, if I won the lottery, I'd buy a place in Hawaii and a place in Manhattan, no question.

 

[The Big Guy]

Living in NJ, property taxes are a frequent topic. I have yet to see a valid reason for such ridiculous amounts. The streets of these towns should be paved in gold and the kids should all ride to schools in limos. It is a wonder where the money goes.

 

[Gamma1210]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

At 3300 sqft and the condition it looks to be in, that's neither old nor small for some neighborhoods around here. I spent about that for a house that is just 2200 swft, only 3 BR, and is in much worse shape than that one looks to be.

So it's actually a lot worse in many areas than even your example.

My wife and I actually looked at a place in our town on the market for 1.6MM, 3 BR, and a total dump on the inside. Awful. But the inventory is nil and people are desperate and prices are absurd. This 1.6MM listing won't sell for that, but it's things like that on the market that made our house at around 1.1MM seem like a total steal.

The old and small may be a stretch, but my point was more about the taxes. $850k home paying $2,800 a month in taxes is insanity! Also, that was 2012, prob went up.The western Long Island, Westchester, CT, & North Jersey markets are all very comparable. You are either paying out of the ### for the house or the taxes, or most places both. All in all, the monthly payments in these markets for similar houses are close to each other.

There are plenty of commuting towns in NJ with good schools with taxes half of that. House is still expensive, but taxes go down outside of Essex and Hudson counties.

 

[Mister Martie]

Good grief. No wonder northerners are flocking south. Here a 300k house would be $1,250 or so in taxes.

It's just the Chicago area. The rest of the Midwest isn't anywhere near that bad.

Well, good thing all those taxes have driven the crime rate down to nothing.

Yeah, I'm sure the property taxes mr roboto is paying in bumble #### surburbia are going towards crime prevention in Englewood.

 

[Slapdash]

One of the highest end towns on LI, about an hour door to door commute to Manhattan, about a cool million gets you just over 2000sqft in an oldish house.

Link

That's not good enough?

 

[Otis]

I love New York, and really enjoyed the time I spent there, but am really glad I didn't build my career there. That said, if I won the lottery, I'd buy a place in Hawaii and a place in Manhattan, no question.

I have long envied my TX brethren.

 

[Otis]

One of the highest end towns on LI, about an hour door to door commute to Manhattan, about a cool million gets you just over 2000sqft in an oldish house.

Link

That's not good enough?

What's good enough, and for whom? For me, it's nice, the kitchen looks dated , but mostly 2k Sqft seems tight for a big family.Oh and I should have mentioned that's on the bad side of town, closer to a not so great neighborhood. There have been a bunch of break ins there in recent years, so the real estate is cheap.

So that's a cool mil for a 2k Sqft house in a place where you might not be so comfortable raising your family. And yet still an hour commute from Manhattan.

 

[DA RAIDERS]

I live in the burbs of Chicago. An older 4bd/3bath house in need of renovation on an acre lot in a good school district starts at 500k. If it's newer, renovated and done with high end finishes, it would be 700k+. That same house in the North Shore here (similar proximity to the city and cultural feel to Long Island) would be 2mil+.

Property taxes on above home are from 12k-25k per year.

We are moving to Minneapolis area next year, in part because of COL and a desire to get away from Illinois taxes, politics, traffic etc. The same house in the nicer outer suburbs as above wouldn't be that much less (maybe 20% less, from 350-500k) but property taxes would be about 2,500-3,500.

I've estimated that the savings on property taxes alone will average 10k. That's 250k over 25 years. I can send both kids to college on the savings from property taxes alone.

/endhijak

try south Orange County, ca.

 

[Ditkaless Wonders]

Write the village. Acknowledge that you too saw the dumpster. Ask if they know how it got there. Thank them for their diligence in having it removed. State it is service like that which makes you proud to be a member of the village. Tell them it is service like that which will assure that you never move elsewhere.

 

[Otis]

Write the village. Acknowledge that you too saw the dumpster. Ask if they know how it got there. Thank them for their diligence in having it removed. State it is service like that which makes you proud to be a member of the village. Tell them it is service like that which will assure that you never move elsewhere.

This is pretty good.

 

[jon_mx]

Any annual property tax over 1.5% of appraised value is robbery.

 

[lumpy19]

http://www.trulia.com/property/1026095548-140-Union-St-Montclair-NJ-07042

Look at this old and small $860k house in North Jersey. $33,000 in property taxes... Just to give you an example if you want an under one hour door to door commute from NJ to NYC, this is what you're dealing with.

ETA: in a safe community with a good school district

built in 1740

people that bought in 95 nailed it, sold 10 years later for a cool 1.3 million in profit.

 

[Mr. Pickles]

So what happened? Call the militia yet?

 

[the moops]

2 kids is a big family?

 

[mr roboto]

2 kids is a big family?

Every person needs 2 bedrooms and 1,500 sq ft.

 

[Henry Ford]

2 kids is a big family?

Well, you figure 300 square feet for each kid's room, 150 for the kids' bathroom and 600 for the master suite... then where do you put the kitchen, living room, family room, and indoor tennis court?

 

[Slapdash]

One of the highest end towns on LI, about an hour door to door commute to Manhattan, about a cool million gets you just over 2000sqft in an oldish house.

Link

That's not good enough?

What's good enough, and for whom? For me, it's nice, the kitchen looks dated , but mostly 2k Sqft seems tight for a big family.Oh and I should have mentioned that's on the bad side of town, closer to a not so great neighborhood. There have been a bunch of break ins there in recent years, so the real estate is cheap.

So that's a cool mil for a 2k Sqft house in a place where you might not be so comfortable raising your family. And yet still an hour commute from Manhattan.

I recognize the burden you face trying to find a "great neighborhood" in one of the richest areas in the world. However, 2k is more than enough room for a four-person family.

 

[B-Deep]

Wait - did I miss the "Otis is moving thread"?

Every now and then -- and I know this sounds crazy, and I'm pretty thorough -- I undertake a major life event without starting a thread about it.*

*Pretty sure I've posted in other threads about it though.

so you are moving out of the McDLT house right? (hot side hot cool side cool)

 

[fantasycurse42]

I love New York, and really enjoyed the time I spent there, but am really glad I didn't build my career there. That said, if I won the lottery, I'd buy a place in Hawaii and a place in Manhattan, no question.

Couldn't agree with the bold any more. I wish I was in a different field to be completely honest. Unfortunately I'm basically trapped in NY. My only other real option would be San Francisco.

If I won the powerball, I'd def buy a nice $5-$10MM condo in Manhattan, however there is no chance it would be my primary residence.

 

[Henry Ford]

I love New York, and really enjoyed the time I spent there, but am really glad I didn't build my career there. That said, if I won the lottery, I'd buy a place in Hawaii and a place in Manhattan, no question.

Couldn't agree with the bold any more. I wish I was in a different field to be completely honest. Unfortunately I'm basically trapped in NY. My only other real option would be San Francisco.

If I won the powerball, I'd def buy a nice $5-$10MM condo in Manhattan, however there is no chance it would be my primary residence.

I know I'm strange for not loving Manhattan, but I just don't. And if the choice is between $5 million for a condo in Manhattan, or $3.5 million for this in New Orleans, I don't see much of a choice.