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They're not low, certainly, but they aren't extravagant, and they are offset by low property taxes (California 1%, Texas 1.80%, New Hampshire 2.18%), even more
by secabeen 5y ago
They're not low, certainly, but they aren't extravagant, and they are offset by low property taxes (California 1%, Texas 1.80%, New Hampshire 2.18%), even more so once you've been in a place some years, and are benefiting from Prop 13.
- refurb 5y agoUh, no, 1% isn’t not a low tax rate when’s starter single family home in the Bay Area is $1M.
- seanmcdirmid 5y agoCalifornian valuations are fixed in their increases by prop 13, so over time your property taxes will go down, restive to inflation at least.
- refurb 5y agoSure, if housing prices increase at the same rate as the last 30 years there is a huge benefit, but regardless if you buy today you’ll have a massive property tax bill.
- seanmcdirmid 5y agoYes, and it really isn’t fair, but prop 13 wasn’t about fairness.