How are your investments doing?

[ultrarunner]

@ultrarunner You have my sympathies. I have to admit that given the trends where you have property, if it were me, I'd be liquidating the real estate. I just don't see the locale improving the business environment, nor the taxation, nor the insurance rates, nor the crime, but it is your home turf and know it far better than me.

All the best, Peter

In my lifetime 2019 is when all the stars aligned and the great turn around was in full swing.

Vacant store fronts snapped up and new businesses moving in and co-workers that never would have ventured here were now coming… celebrity eateries, art and ethnic ventures, etc.

Covid changed all that and set us back 20-30 years.

I have a family property that was appraised over a million in 2019 plus unsolicited cash offers requiring it to be vacant… but it was leased at the time… two years ago dropped to 700k and now about 300k… maybe less?

The kicker is since the 1940’s it has been automotive but city says no more automotive as housing is the word of the day and cars bad.

I don’t know anyone willing to step up to deal with the very long and costly planning process absent Federal and State monies…

Several have mention getting the property with a two year escrow pending building entitlement securement to close…

 

[goeduck]

You must have quite the impressive multi-million $ home if $30k a year wouldn’t cover property taxes and insurance. I looked up the average tax rate for Washington , and it’s a heck of a lot lower than many other states, less than 1/2 of my state’s rate (NH)

https://www.rocketmortgage.com/learn/property-taxes-by-state

$30k/ year would be the tax on a $3.5 million property, according to the article. Double that bill for New Hampshire. New Jersey… crazy expensive

First of all, see my comment where it included insurance. And don't forget that a "multi-million $" home on the West Coast is nowhere near that in many states, including NH. So that makes a straight up tax rate on property meaningless.

AI says "New Hampshire generally has lower median home prices compared to many West Coast states like California and Washington"

 

[Carl_NH]

It depends on where you live in NH but the average 2-3K SF homes in the southern tier are $700-900K and then along the coast and waterfront rises to $1.5-5M valuation. In the north, a bit less, 500K average value.

Depends on the business tax base, and population is what determines the rate. Our town is $16/1000 evaluation, per year next town over (borders our property) is $24/1000.

 

[Sprinkler Fitter]

No one in Indiana pays sales tax on food, rich or poor.

I can't think of any household item, clothing, bedding, toilet paper, toiletries, furniture, anything that does not get sales taxed. Cars, tires, oil, lightbulb, you name it, they are all taxed.

On all food?

Minnesota you pay tax on prepared food and drinks with more than 50% sugar or sweetener I believe.

 

[Torvy]

On all food?

Minnesota you pay tax on prepared food and drinks with more than 50% sugar or sweetener I believe.

There were occasions when I was a kid that we would drive the 10 miles into MN to buy food or clothes as neither had a sales tax. Of course, we also took periodic trips to Grand Forks to buy things at the Commissary or BX.

I'm guessing the details have changed over the years.

That's one reason I prefer tax rates be set in stone and with zero exceptions. You can always deal with the truly poor through rebates or public assistance. The more 'exceptions' you have, the more likely it is that people will exploit them.

 

[DarkBlack]

On all food?

Minnesota you pay tax on prepared food and drinks with more than 50% sugar or sweetener I believe.

NH , where I live is labeled as a “No sales tax” state, but that’s a bit of a stretch. We actually have sales tax on prepared foods, both from restaurants and supermarkets, motel and hotel tax, timber tax, land/home sale tax, car rental tax, cigarettes tax, alcohol tax, diesel fuel tax, gasoline tax, electricity tax, communications tax , etc.. there’s more, those are the ones iff the top of my head.
Until this year, we also had an interest and dividends tax, but they finally repealed it, admitting it was a bit disingenuous to advertise the state as having no income tax, while actually taxing interest and dividends over a set amount

 

[steve tym]

I don't mind paying taxes, it's what they do with my tax dollars that upsets me.

 

[Hay Dude]

I don't mind paying taxes [to a reasonable extent], it's what they do with my tax dollars that upsets me.

More gooder with what I added

 

[BackRoad]

I don't mind paying taxes if...everybody...is paying their fair share of the tax.

Everyone should be responsible for contributing to the cost of shared infrastructure such as roads and police, plus national security. Everyone benefits from them.

And I strongly prefer the tax to be a more agressive consumer/sales tax, rather than an income tax...thereby incentivizing people to earn more without fear of paying a higher percentage of income into taxes.

There should be no real estate taxes. You should be able to own your home without worry of RE taxes forcing you out when the home is paid off.

Make RE tax as a flat tax based on the cost of the property that can be paid off like a mortgage (if an RE tax is absolutely required).

 

[Sprinkler Fitter]

I don’t care for a tax to build or help build a stadium for sports. Let them pay for it themselves. I don’t go or watch it why should I have to help pay for it?