If there has ever been a bill that I've had a difficult time paying, it would have to be our property tax bill.? Just as I could never pay the mortgage on time, so I have a problem paying the property taxes on time too.? For the record, I have paid our mortgage on time for the past 4 years and I have moved beyond the self destructive urge of always feeling like I had to 'live on the edge', of needing to feel beaten down every time a debt collector called to dun me for money.? Instead of getting a weird charge from having someone berate me for money they were never going to get, I now would hate to live like that and so don't.? I haven't received a call from a mortgage debt collector, any kind of debt collector, in 4 years.? Still, the property tax bill looms as the last bill I need to 'conquer' by paying it on time and I am just about at that point of being able to pay the bills on time, before they are overdue.? This year, I had to pay over $400 more than I would've had to pay had I paid the darn bill on time and I am not going to do that anymore.? Another property tax bill will be due in December and I am on track to pay that puppy on time. That will vanquish my final 'bill demon'.? I can truthfully say now that my personal finance management is A+++.
As is true everywhere here in the US, the more expensive the house, the higher the property taxes.? When we lived in the custom built home, I am going to admit ~ as stupid and ignorant as it sounds ~ that I never took into account the monthly bill that we would have to pay in property taxes alone for living there.? Never mind the homeowners insurance or the mortgage payment itself.? I just never thought about the financial impact of paying high property taxes too.? I know that sounds stupid, I know.? I hope it conveys the level of denial that I lived in when it came to handling our monthly finances.? Our property tax back then, by the way, was almost $8000 a year.? Our monthly bill for property taxes alone was over $600 per month.? Insane. Our financial lives back then were chaotic.? This proves it.
Anyway, back to the present day property tax bill.? I received our latest bill for 2012/2013 and, because I am financially organized these days, I was able to dig out last year's bill and compare the hikes.? Our property taxes have increased by $140 over last year.? A new sanitation levy was imposed which helped to drive the bill up, in addition to the fact that every single category listed on the bill has increased too.? Voted indebtedness for water, college, schools, public services ..... every single category shows an increase.
Is it worth even owning a house anymore here in California?? Especially if it's in a place one hates?? A friend of ours just purchased a house for $250,000 and, when he asked the agent about the property taxes, she told him to use a? '1.25% of purchase price rule-of-thumb.'? Well, sweetie, I am here to tell you that's erroneous information.? Based on my own calculations, the 'rule-of-thumb' is closer to 2% and THAT is what you should be telling your buyers. There's a big difference between 1.25% and almost 2% of purchase price.? Every single neighborhood around here has a voted indebtedness of some kind and that pushes the property taxes up and beyond the old standard 1.25% rule of yore.? By my reckoning, our friend will be paying close to $400 a month in property taxes ALONE.? Add that to the mortgage payment and homeowners insurance and you have a much larger monthly payment than bargained for, no doubt.? I would actually go a step further and ask the homeowners of any house that I was thinking of buying for a copy of their most recent property tax statement so that I can see for myself exactly what the annual tax bill consists of.? Add a couple of hundred bucks to compensate for the following year's taxes, which undoubtedly will increase, and there one has a clearer picture of expenses.? I have learned the hard way to never rely on some third party's ignorant verbal diarrhea when it comes to real estate.
Homeowners like us are carrying this burg.? Even if the spouse and I own this house outright, our monthly bill will still be around $300 thanks to property taxes and homeowners insurance.? I need to call our insurance company today to see if I can bring that monthly bill down a bit, perhaps with an increased deductible.
Considering that we have a main road full of pot holes that have been there since the last rainfall, I guess I need to get on and pay this bullshyte property tax bill (sarcasm).? That will be another chunk of change gone from the bank account.? It's all pay, pay, pay and, given our own unique set of financial circumstances, we really just can't get ahead right now.? Oh, and then there's the roof that needs replaced ....
Apartment living is looking better and better and I never thought I would say that.
Source: http://questfor85.blogspot.com/2012/10/property-taxes.html
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