Tax per capita, best and worse

KentT · Apr 11, 2006

( the last list is misleading because it doesn't include local sales taxes
on long island sales tax is 8.35% Glad i moved to vermont to keep
on paying more taxes /forums/images/graemlins/crazy.gif )

Absolutely! Massachusetts has a 5.25% state income tax plus 6.25% sales tax, yet it's shown as #32 with a cumulative tax rate of 9.80% /forums/images/graemlins/confused.gif /forums/images/graemlins/confused.gif /forums/images/graemlins/confused.gif

It also has pretty high property taxes, local excise taxes, 38.9 cents a gallon tax on gasoline, and fees for virtually anything imaginable...

There's a reason why its nickname is Taxachusetts... yet it shows up as #32 /forums/images/graemlins/confused.gif /forums/images/graemlins/confused.gif /forums/images/graemlins/confused.gif /forums/images/graemlins/confused.gif

greatrandini · Apr 11, 2006

Sales tax only taxes dollars used on certain goods therefore you can't just add the percentages together. Property tax is high in kansas!

_RaT_ · Apr 11, 2006

Kent, I would guess its not that Mass has exceptionally high property tax rates but rather exceptionally high real estate values thus the higher tax burden. Its that way here in much of California. I guess when you live where folks want to be, it causes higher and overvalued real estate. Many coastal states have these issues with exceptions in much of the south. Its a double edged sword. On the one hand, you pay more, on the other, should you go to sell and move to a lower priced real estate market, your ahead of the game. /forums/images/graemlins/wink.gif

KentT · Apr 11, 2006

( Kent, I would guess its not that Mass has exceptionally high property tax rates but rather exceptionally high real estate values thus the higher tax burden. Its that way here in much of California. )

It's not just that, it's the tax rate itself, and I live in a fairly low-taxed town in Mass....

My real estate taxes are $10.16 per $1000 of 100% of the appraised value. In comparison, my taxes on my land in Tennessee is $24.30 per $1000 of 25% of the appraised value, which equates to $6.075 per $1000 of 100% of appraised value.

$10.16 vs $6.075 is a pretty significant difference...

_RaT_ · Apr 11, 2006

Interesting. I have no real comparision anymore since CA passed Prop 13. We are taxed at 1% with a small deduction if it is your primary residence. In other words, if your house/property is purchased for $300,000, you will pay approx. $3000 per year. There is a very small increase each year by a few bucks. We are not reaccessed periodically. If however you remodel, the remodel can be reaccessed.

KentT · Apr 11, 2006

( Interesting. I have no real comparision anymore since CA passed Prop 13. We are taxed at 1% with a small deduction if it is your primary residence. In other words, if your house/property is purchased for $300,000, you will pay approx. $3000 per year. There is a very small increase each year by a few bucks. We are not reaccessed periodically. If however you remodel, the remodel can be reaccessed. )

So, that's roughly $10.00 per thousand of the appraised value... or roughly the same as here. But, we don't have homestead exemption. It's $10.16 regardless of personal, industrial, rental, commercial, etc...

Here, every building permit generates a new appraisal, and they'll appraise you every 3 years, regardless.

kevincook · Apr 12, 2006

In this part of New York a $300,000 house would have properties taxes between $11,000 and $13,000 per year.

8% sales tax, 7% income tax...you get the idea.

Kevin

robison · Apr 12, 2006

( In this part of New York a $300,000 house would have properties taxes between $11,000 and $13,000 per year.

8% sales tax, 7% income tax...you get the idea.

Kevin )

Where I live in Amherst, Massachusetts a $13,000 property tax bill would be for a $800,000-1,000,000 home. Our rate is $16 per thousand, and million dollar homes are often assessed at 600-700k.

The average home in this town sells for about $350k, and the tax bill is in the $2500-3500 range

And our state sales tax is 5%, not 6.25 as someone posted above.

KentT · Apr 12, 2006

(
And our state sales tax is 5%, not 6.25 as someone posted above. )
You're absolutely correct, and I was wrong.

I'd confused its sales tax with those of Tennessee -- I'd just gone through a tax comparison exercise between the two states with my 14 year old for his math project..

Taxes were fresh on my mind, which prompted my initial response....

I didn't mean to mislead anyone! /forums/images/graemlins/blush.gif /forums/images/graemlins/blush.gif /forums/images/graemlins/blush.gif

_RaT_ · Apr 12, 2006

Sales tax I'm sure varies everywhere. Here in California, every county has its own sales tax. Where I live it is 7.25%. The sales tax is unique to each county, it does not go into a general fund but strictly for the county. Its a good idea because it makes counties think about raising their sales tax. For example, in the next county over, the sales tax is 7.75%. It's not hard to figure out where folks will go to buy bigger cost items like cars. When government "competes" we win, well sort of. /forums/images/graemlins/grin.gif