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Answers (5)
Best Answer
- Dan, "the_country_hick"
- Contributions:4709
I have been told that a commonwealth has the lowest taxes. It also provides the least amount of services. Although you may get lower property taxes in one area all of the other government taxes and fees (like registration and sales tax) may change your best state to move to.
The best tax rates come in an unorganized township. The state subsidizes them. They however have no local government. When you include a homestead tax exemption (property tax break) for it being your primary residence (in some states) depending on what you buy taxes might be very little if you bought a trailer even in a higher property tax state. Some towns offer lower taxes than others even in the same state.
You may also find other tax breaks depending on your income or age. Each state has its own rules. As an example in my state you can place land in forest or farmland protection. That gives you a further tax reduction. In exchange you can not develop the property without paying all back taxes and a stiff penalty.
The best tax rates come in an unorganized township. The state subsidizes them. They however have no local government. When you include a homestead tax exemption (property tax break) for it being your primary residence (in some states) depending on what you buy taxes might be very little if you bought a trailer even in a higher property tax state. Some towns offer lower taxes than others even in the same state.
You may also find other tax breaks depending on your income or age. Each state has its own rules. As an example in my state you can place land in forest or farmland protection. That gives you a further tax reduction. In exchange you can not develop the property without paying all back taxes and a stiff penalty.
- Dan, "the_country_hick"
- Contributions:4709
A few years ago near me there was one town that had a 10 mil rate while the city had a 23 mil rate. Many other towns had around a 15 mil rate. A mil rate is $x tax per $1,000 of valuation. That means when you bought a $100,000 house you could have paid $1,000 to $2,300 depending on the town or city you bought in.
- Navid Reza Khoshooee, "navid_reza_khoshooee"
- Contributions:6
Wow so much useful info there.. had no idea taxes can vary that much in the same state! really appreciate all the answers and info!!
- Joshua Stein, "JSteinHomes"
- Contributions:140
Keep in mind that property taxes as based on municipality, and are not state-wide. In SE PA, you can pay around $10,000 per year on average in Cheltenham township, and the same square footage might be only $4,600 in neighboring Springfield Township and only around $1,500 in the City of Philadelphia right next door.
- Ritu Desai, "VARealtor"
- Contributions:697
I had come across this website a while ago..that list all the state and how it ranks property taxes..pretty cool check it out.
What state has the lowest property taxes?
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