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I assume by your "y'all" that you're in a low COL area
@PWC1, brb, moving to Nashville
We pay 8k in property tax each year. If we all stopped paying it our great school system would tank and property values would plummet far more than 8k. Consider buying a home as a diversified investment, at least it gets your savings out of stocks/bonds entirely
Our school system is great and I pay $850/yr in property tax on a new 1500 square foot home. Y'all need to move.
Nashville
Homestead exemptions help a bit too, the first $50k in Florida assessed value is exempt from property taxes. Ohio is $25k, Tennessee is doesn’t have one. Florida is the clear winner here because there’s no income tax (although you get hurricanes, retirees, and flat topography as a trade off).
The property tax alone here is enough to kill you. Westchester is at roughly 20 mils while the rest of the country is like, 10. On a $600k home you’re talking another $6k in property tax alone.
Where do you live PwC 1?
Dude what? Property tax on a $400k home in Houston is over $11k
Damn, I knew Nashville was the play. PWC hiring in Indirect Tax?
EY1: how the hell are you paying almost 28 mils? That’s brutal dude.
Yeah it blows. However, we have no state income tax
I pay $1100/yr in property taxes in Columbus, Ohio. I also live in a city school district but we are DINKs so fu@k it. 👌🏻
EY1 we have no state income tax either