Property Assessment

[Kahunascott]

quote:

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Originally posted by mgeary

To David M.:

You probably know this already, as should everybody, I would think, but each state has the ability to generate revenues in a variety of ways. Our total tax burden (total state tax revenues) are a combination of income, property, sales, corporate, vehicle, and lots of other taxes, plus user fees for hunting and fishing licenses, professional licenses, toll road and bridge fees, etc.

Each state has the ability (the principle of Federalism) to set whatever rates they choose for each of the above, or have none of any particular category of revenue generator.

Kahunascott says his NJ property taxes are $13k, vs <$500 in HI, but I wonder how the income taxes, sales taxes, etc., compare. NV has no income tax whatsoever, I believe. ID has comparatively high liquor taxes, and I can remember my grandparents stocking up on liquor when they came to CA to visit.

Expenditures have little or no relationship to revenues, at the state and Federal levels. Which irritates me when I see our CA gasoline, vehicle, and other transportation tax money going to fund exorbitant school expenditures on a failed school system, while the roads deteriorate.

I know there are websites which could provide a state-by-state comparison of total tax burdens, I'm just too lazy to look one up to post here. Damon, you busy? It's a chilly, stormy spring day here in CA, but I have to fix my spriklers, anyway.

Aloha! ;-)

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No need to wonder, all ya’ gotta’ do is ask.
Income tax bracket when I lived in NJ was 33% on a six-figure salary.
Add just under $13K for property taxes.
Add 6% sales tax in NJ and another 4% (I think) NYC sales tax when shopping in the city.
Add the mortgage to that and you can see why we’re here.
Just do the math.
Paid cash for the house.
RE taxes under $500/ year.
And I’m in an 18% income tax bracket.


"Many dreams come true and some have silver linings, I look for my dreams and a pocket full of gold" Led Zeppelin