U-Haul Index: Californians Are Hustling To Texas

[Byng]

Just general information purposes. Maybe some jealousy since in good old Howard County, MD, the property taxes on my much smaller home are at the top end of the highest in DE.

What makes property tax so low in Delaware in general and in different towns and areas in particular is that the tax levied is based on the amount of the assessed value and not the appraised value or sale price of the property, which in turn depends of course on the date that the last assessment of value was conducted.

To take one of the most extreme cases, the Town of Rehoboth Beach last did a property assessment for tax purposes in 1968 so homes in the town are still being taxed at 1968 assessed value.

A home that I purchased in 1976 while living in Rehoboth cost me $29,500.00 that self same home (no longer owned by me, unfortunately, I sold in 1979) I sold for a client last year for a little under $900,000.00. But because taxes are assessed on the last assessed value of the property which was 1968 that is the tax that the new buyer pays on his $900,000.00 purchase.

To give you another example, I sold my step-daughter a home last week for $189,500.00, a 3BR, 2BA Ranch style home, less than 10 years old on 3/4 of an acre lot and her taxes on that purchase because of the last time that property value was assessed in her area amount to just $561.00 per year. So if you pick wisely where you buy your home in Delaware, property taxes are so insignificant as to be not even part of your financial equation, when buying your home.

[Sprightly]

That is great. So you don't have yearly assessments. Ugh. More reason to dislike this state.

[jessup270]

When it comes to choosing a place to live based on costs, taxes and so forth it is very complicated.

People often try to sell their choice as best, however, those same folks often ignore other expenses.

Variables:

Will heat or cooling costs be excessive.

Will home owners or car insurance be more or less. In FL both are higher. Yet FL has no state income tax.

Will vehicle taxes be high. For example in Colorado an plate fees for a $30,000 vehicle exceed $300 per year. Plus CO has a state income tax. A nice motor home in CO has an annual tax fee of $5,000.

In NC you pay a yearly on boats, planes and so forth.
I understand PA has range of school taxes.

The list is long.

Perhaps other could give their experiences.