What Are Your Property Taxes? Your Casualty-Property Insurance?
Charlotte’s lower cost of living is not just about more home for the money, Charlotte also has lower taxes and lower insurance rates than any major city in the US. I’d like to test that here, and invite your comments below.
Consider some of my recent clients. A Rahway, New Jersey homeowner, recently retired and who is heading to Charlotte to look at Sun City Carolina Lakes: her home is up for sale at $299,000, she pays $8,000 in property taxes annually, on about a 1800 sf duplex. The home? Asking price of $166/sf, Taxes $4.44 per sf, per year.
A couple looking at Lake Norman pays $15,000 in taxes on their $800,000, approximately 3000 sf home in Long Island. The Home? About 265/sf. Their taxes amount to $5.00 per sf, per year.
Clearly, these high taxes in northern states are driving people south, even in this turbulent economy
I found a 3br, 2.5 bath home in a popular Charlotte suburb, Matthews, NC for sale for $250,000, 2250 sf, with taxes of $2,579. The home 111/sf, taxes 1.14/sf per year
Charlotte- still the only “objectively affordable” major city in the US.
Tell me about your house, in the comments below, or at terry at terrymcdonaldre.com using normal e-mail punctuation.
Comparing Home Values- Testing Trulia
What began as a price comparison of homes in the middle $400,000’s from city to city of taxes/insurance and home values, became a test of Trulia, as I kept seeing the same “estimated tax” on comparable $450,000 homes…instead of the usual tax rates that make comparing taxes difficult, I just compared the taxes on these houses based on the “tax per square foot” a simple calculation-that I think offers the best look at relative affordability. See what you think. I did the same thing with property insurance
|2348 Beech St||Wantagh||NY||449999||1976||8494||1344||228||4.3||0.68|
|13 Elberta Rd||Maplewood*||NJ||412000||2200||10100||1605||187||4.59||0.73|
|5 Metacomet la||Franklin||MA||449000||2100||4900||1344||214||2.33||0.64|
|4204 4th ave NE||Seattle||WA||435000||1060||4344||1300||410||4.1||1.23|
|9542 Vercelli St||Lake Worth||FL||425000||2437||4614||1275||174||1.89||0.52|
|322 Chancelot Ln||Fort Mill||SC||449000||3727||2077||1344||120||0.56||0.36|
I know a number of insurance agents watch this blog– could you run some quotes on these houses, quick and dirty?
For example the number $112/mo for insurance comes up in Trulia over and over again. And the Lake Worth Florida house insurance reported by Trulia look very low. I noticed Trulia’s lack of accuracy in taxes quickly- their numbers for tax estimates in their payment calculator can not be trusted. Trulia taxes on the Maplewood home amount to $4116, versus the $10,100 actual reported in the listing. And on the Fort Mill house they over reported the taxes by half.
So, for you Charlotteans who think your taxes are high…
Know any other high tax area? High Insurance costs? Please let me know in the comments below
Moving to the Charlotte Area? South Charlotte, Huntersville, Uptown? Your first Charlotte home?
I am a Charlotte real estate broker and lead a team specializing in relocation’s, 2nd homes, investors and first time home buyers–buying and selling real estate of all kinds- and will represent only you. My team works with Buyers and Sellers every day from Uptown to Ballantyne, Lake Norman to Concord-and Fort Mill SC too. My team and I know the homes, the communities, and the new home builders. We know what’s hot, what’s not, and where the deals are. I think as you read my posts you’ll see that we understand home buyer needs, from a first time home owner to a luxury home purchaser.
We are working to make your relocation to the Charlotte area easier, less stressful and help you “buy smart.”
I am easy to reach, please don’t hesitate to call, no question “too small,” call me direct at 704-351-1519. Terry
Charlotte NC Terry’s Introduction to Charlotte, Over 10,000 views You Tube views-#1 for a search Charlotte NC,