Kingsland, GA
At least we don't have to worry about this and how a tariff could effect prices at the same time. Oh, wait.......
(Topic ID: 219716)
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Quoted from cottonm4:Interesting. You are trapped into continued living in the same "old" house until you die because of a tax angle situation.
I read all you posters here living in the $500K homes with big taxes and I shudder.
I bought my little bitty 2 bedroom house in 1979 for less than $40K.
But something happened in my neighborhood and now forty years later the value of my house is less than $50K.
On the one hand, it is nice because my annual property taxes are less than $700.00. But, OTOH, I am forever trapped in this house because the worldwide market has appreciated and left me behind. I could not afford to move even if I wanted to. I'm mortgage free with low taxes and I am happy with that.
Yes, that is the situation my mom is in. My parents built a house in Cupertino (that is where Apple started) 37 years ago, I think it cost about $130,000 to build. It is probably worth $2,500,000 now, but she is on a pension, and if she sold it and purchased another place, she could not afford the property taxes.
Many of you guys make me feel lucky for my house. I purchased it for $180,000 5 years ago. I did some renovations and it is valued at about $350,000 now. My taxes are based close to my purchase amount, but go up about 3% per year. My property taxes are $2,200 per year. The house is nearly 4,000 square feet heated and cooled, 1,000 square feet covered and screened in porch with a 1,000 square foot garage, has an in ground pool, 1 acre on the marsh with a nice marsh view in the back.
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