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A taxing study



Local property taxes are the topic of much grumbling due to soaring property values, but be glad you don’t live in New York or New Jersey.

Homeowners there have the highest property taxes in the nation, according to a new report by the Tax Foundation, a nonprofit research group that advocates for tax reform. Of the 10 top counties ranked according to median property taxes, five are in New York and five are in New Jersey.

New York’s Westchester County ranked No. 1, with median property taxes of $7,337. Nassau County on Long Island was No. 2 with taxes of $7,025.

New Jersey’s Hunterdon, Bergen and Essex counties ranked third, fourth and fifth, respectively.

The study also compared the average tax burden as a percentage of per capita income for all 50 states and the District of Columbia. The comparisons are based on what residents pay in state and local income taxes, property taxes, sales taxes, luxury taxes and fuel taxes, among others.

The study factored in the portion of business taxes that are passed along to residents through higher prices, lower wages or lower profits.

Florida ranked 39th, putting it among the more favorable “tax-friendly states,” with residents paying 9.7 percent of their annual income in taxes, or $3,566.

Maine was the least tax-friendly state in the union, with residents paying 13.5 percent of their income in taxes, or $4,719.


Permalink | Comments (22) | Post your comment | Categories: Linda Rawls

Comments

By taxrevolt

October 5, 2006 03:46 PM | Link to this

Taxes are out of control! The tax base is much larger and taxes higher. So, where has all this additional revenue gone?? Time for all citizens to revolt and only send in 75% of the current tax bill!

By Rich R

October 5, 2006 03:51 PM | Link to this

Jeff, you quoted average tax bills, but you didn’t provide the assessed values to go with them.

How can we even compare?

Average taxes are higher then SoFla, but how does the median price compare? What is the average millage rate?

btw, from what I can see, SoFla is not too far off the high taxes you quote.

And you certainly won’t find folks in Westchester paying over $10K a year in Insurance costs.

When you add taxes and insurance together, for most in SoFla, the people in NY & NJ have it better as it sums to a lower number then what is paid in SoFla.

$5,500 tax, and a $7,500 insurance bill in SoFla is worse then a $7,300 tax, and $800 insurance bill in NY.

By cmgr

October 5, 2006 06:10 PM | Link to this

why all the complaints about fla taxes?

it’s much worse many places elsewhere

and prices are astronomically higher in places like ny or ca

boom notwithstanding, I think we’re still enjoying a bargain down here; and no hurricanes doesn’t hurt either

has anyone noticed it’s already hawaii outside?

gotta love palm beach!

By No Complaints Here

October 5, 2006 09:48 PM | Link to this

My property taxes are $3000 and my house insurance is $2400 with $1000 deductible with Allstate.

I noticed my neighbors got dropped by their insurance company or their rates were significantly raised when they put in fraudulent claims last year after the hurricane.

It pays to be honest when it comes to making claims to your insurance company.

Honesty is the best policy.

By to rich r

October 6, 2006 05:56 AM | Link to this

once again, don’t you have some place to be, other than blogging on a paper in a town that you no longer live in. You say you can not stand the people in pbc. so why do you keep blogging?

you always focus on one fact, and on fact only.

take the cost of living in ny and nj or ma and ca, then compare to fl.

you focus on insurance and taxes. i would say look at cost per sq ft., insurance, house and auto, taxes, property and income. etc…

your narrow focus, you mention prop. tax and insurance to assume the cost of living is just as high in fl as ny and nj. lets focus on one issue, income tax.

since you probably make no income, you wouldn’t consider that. if you make $150k a year, in ma, nj, ca or ma….

then your state income would be around $8 to $10k.

that sure makes up for a lot of other stuff.

don’t leave out the auto ins. or sin taxes, or impact fees.

then let’s look at quality of life issues, traffic, activities, weather, etc…

your posts are just stupid, like you. i could say, in new jersey during december the sky is blue, just like in florida. it fails to mention it is 20 degrees out in nj, and a great 80 in palm beach.

By Rich R

October 6, 2006 09:13 AM | Link to this

You are way off my friend. Way off.

I have plenty of income and no mortgage. My total cost for my home is $87 per month for Prop Tax, and $28 per month for homeowners.

My state income tax last year, with proper deductions, was less then my property insurance cost in Fl.

It net’s out to be over a $10,000 per year savings, and the quality of life in NC far exceeds that in Florida.

It works for me; if you’re happy there, I couldn’t be any happier for you.

It’s all about choices.

By to rich r

October 6, 2006 09:26 AM | Link to this

i am not comparing hicksville to palm beach county.

you are way off.

i am comparing palm beach county to ny, ca, nj, or ma. real metro areas, not some bible belt bulls**t.

By TANC

October 6, 2006 09:56 AM | Link to this

To say that Raleigh, NC is hicksville is ignorant. I visited Raleigh myself recently and it is far from hicksville. I live in FL and personally I’ve visited many areas in FL that I would classify as hicksville before I even dreamed of classifying Raleigh that way.

It is all about choices. If you’re choosing between NY, CA (I lived in LA for 25 yrs),NJ, MA etc. OR some beautiful areas in FL (and there are many), then yes these areas are more expensive overall (the gap is narrowing though), colder and with more crime and less affordable housing, BUT you give up things as well such as some of the best cultural opportunities in the world, more and better restaurant choices, proximity to overall more diverse activities, etc.

Now, if your choosing between FL and say, Raleigh, NC your comparisons are different. On a cost basis, it seems clear to me that Raleigh, NC is less expensive for a homeowner even after accounting for a relatively high income tax rate in NC.

Cultural opportunities compare very favorably to FL. Restaurant choices are probably a toss up. Recreational activities? Well it depends on what floats your boat…FL beaches are awesome, some of the best fishing in the world off the coast, the beautiful Bahamas a quick trip away etc.

Raleigh on the other hand has a vast number of beautiful lakes very close and within the city, and take your pick the beaches or mountains are 2 to 3 hrs drive either way. Can you ski in FL? don’t think so. Any mountain in FL over 440 ft? Don’t think so.

All in all, it depends on what’s important to you … Take your choice FL or NC they are both great places to be.

By Have Fun in Raliegh

October 6, 2006 10:46 AM | Link to this

Raliegh is about 750 miles from here, no one is stopping anyone from leaving here.

Realtors just have to make money off of the fools out there who buying into this Carolina talk. What some local realtors are doing here is “FISHING” for people who are looking to move out of the area. I bet some of you have had realtors emailing at your web site. They go under blogger names that most of us have seen here of trying to push Carolina.

Good luck on breathing all that toxic air outside of Raliegh this weekend from that waste dump fire that they have around the Raligegh area. Can you imagine the chemicals that are draining into the ground water system in the Raliegh area from those toxic dumps they have in that area?????

That is why it is so cheap to live there! Yes, Raliegh is no Palm Beach.

By Rich R

October 6, 2006 02:02 PM | Link to this

easyasabc.

You still think I am a realtor?

Have you med’s adjusted; it’s time.

By To Rich R.

October 6, 2006 04:43 PM | Link to this

Who cares whether you’re a realtor or not.

Youre like a mosquito that doesnt go away!

And this one time in N.Carolina I….etc.

Who cares! Beat it!

By Rich R

October 6, 2006 06:48 PM | Link to this

easyasabc seems to care.

If you don’t like my post’s, I suggest you “Beat it”.

I’m not going anywhere.

I do get allot of enjoyment riding this blog.

Just way too much fun.

I thought we covered this before.

By going blind

October 6, 2006 09:16 PM | Link to this

only thing rich r. is beating is what he holds in his right hand ! ha ha ha

By Rich R

October 7, 2006 10:32 AM | Link to this

That’s just nasty.

Your parents failed you.

You simply prove one of the major gripes with SoFla. VERY RUDE people.

By Rich R

October 7, 2006 10:36 AM | Link to this

By the looks of my inbox, it seems a whole lot of folks in SoFla are very interested in getting info on NC.

Weekly I am contacted by no less then 6 people asking me questions specific to the lifestyle and cost of living in NC.

I am not a Realtor/agent, nor am I affiliated with any council promoting NC.

I am just a very happy Ex-Floridian.

It’s normal in NC; far removed from the “ME,ME,Me” culture in SoFla.

Just my opinion, like it or not.

By online reader

October 7, 2006 11:44 AM | Link to this

So many things to do in North Carolina that you spend all day on these blogs?

By Don Glenn

October 10, 2006 02:19 PM | Link to this

PBC and Riviera Beach are reaping a windfall revenue income that go far beyond the needed increases to sustain and even modestly grow the services they provide to the county and city population no less SInger Island! In their wildest dream, they could not have predicted the property values moving upward on their current track, no less plan how to spend (wisely) the resulting added revenues.

I believe there should be an immediate reduction of the tax rates, particularly to non-resident owners, to alleviate he double-whammy of all the hurricane-related expenses and sharply increased taxes, at least for this year, and possibly the next. If not a tax reduction, then a one-time cap on the increase to allow some relief for the extreme financial burden suffered by Singer Island’s non-resident owners in the recovery.

By mktw

October 12, 2006 09:48 AM | Link to this

Anyone buy this bargain ? : website still up

http://wellingtonhome.org

August 11, 2006 04:53 PM | Link to this

As long as you stay long time and enjoy your home you shouldn’t have too mucher buyer regret. Your ongoing yearly costs on top of purchase price will bring you to point of diminishing returns. Wellington is no safe haven from market forces. Here is one example of someone who recognizes its time to bail (and maybe re-purchase much,much lower next yr) : Wellington - Sugar Pond Open Sat & Sun. 1-4 1860 Primrose Lane Reduced! Make Offer. 5/3, 2 Masters, office w/cust. cabinetry, pool,hot tub,all baths remod, $465K 561-798-2586 or 561-722-6979 www.wellingtonhome.org

By Just funny

October 14, 2006 04:14 PM | Link to this

I’ll take it at $385K.

Let me know

By Bobby Mac

October 17, 2006 07:14 PM | Link to this

Let’s not compare taxes in other places in the USA to Florida. Let’s get to my point, and that is how our elected local and county officials spent the new found wealth instead of reducing the tax rates. Don’t re-elect them!!!

By Rich R

October 17, 2006 08:45 PM | Link to this

diddo!

We all have choices.

When election time comes, ask the question.

Where is all the new found Cash going?

I still want to know why PBC finds the need to have over a billion dollar savings account.

I do hope this is building interest. Why is Karen marcus and the others not willing to give this cash back?

Anyone have an answer?

By jonny

October 18, 2006 05:41 PM | Link to this

jonny

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