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How will you pay for property taxes? Similar plans, but the problem I have is that property taxes are onerous anywhere near a population center. The food you
by Dig1t 1y ago
How will you pay for property taxes?
Similar plans, but the problem I have is that property taxes are onerous anywhere near a population center.
The food you grow can likely sustain you depending on where you are in the country, you can dig a well for water, and you can buy solar panels for power. But the taxes never go away.
- whall6 1y agoI think you can apply for an ag exemption depending on location
- Dig1t 1y agoWhere I am, the ag exemption barely blunts the taxes. You can claim the exemption on the land on which your house does not sit, but the house itself and the 1 acre around it is not exempt. Anywhere near a major population center, a house + 1 acre can be thousands, if not tens of thousands, per year in property taxes.
- giantg2 1y agoAg exemptions vary, but it usually ends up that you still owe a significant amount. Usually it's something like you get a break on the tax on the land/barn/etc,but still owe all or most of the amount on the house.
- jermaustin1 1y agoOur property tax is right at $250/yr. It’s the home insurance that terrifies me, went from $1300/yr to $2300 last year, and I’m waiting get the new increase in August.
- SoftTalker 1y agoYep the escrow for taxes and insurance is the biggest part of my mortgate payment by far.
- giantg2 1y agoThat doesn't seem to add up. Even .5% on a $150k house should be 3x that tax. $2300 in insurance on a $150k house is outrageous.
- paulcole 1y agoYou seem to be familiar with the situation. What are the property tax laws and insurance risk where the commenter lives?
- giantg2 1y agoI'd like for them to explain it. The data I have shows .5% tax is one of the lowest values, with $2300 insurance being the national average for a $300k dwelling. Based on this data, the numbers don't add up. Maybe they can explain so we can learn.
- jermaustin1 1y agoRural Louisiana and a Homestead Exemption on a house that I bought for $85k.
- HeyLaughingBoy 1y ago> you can dig a well for water You can pay someone upwards of $10,000 to drill a well for you. FTFY!