What are Your Property Taxes? Charlotte NC vs New Jersey, New York and More

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Charlotte NC

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

Street City State Price Sq Ft Taxes Insurance Price/sf Taxes/sf/yr Ins/sf/yr
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
1616 Penderleda Matthews NC 489900 3450 4250 1464 142 1.23 0.42
322 Chancelot Ln Fort Mill SC 449000 3727 2077 1344 120 0.56 0.36
7307 Roseland Charlotte NC 450000 3980 5091 1350 113 1.28 0.34

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

Related Links

Charlotte NC  Terry’s Introduction to Charlotte, Over 10,000 views You Tube views-#1 for a search Charlotte NC,

About Charlotte NC  Charlotte Homes For Sale   Charlotte Luxury Homes For Sale First Time Home Buyers

Fix Housing First-a Housing Stimulus plan of the NAHB  Housing Stimulus by The NAR Proposal for the 2009 housing stimulus by the National Association of Realtors

Terry McDonald

Terry McDonald

I am the owner and operator of CharlotteCommunitiesOnline.com and was inspired to create this website when I moved my young family of 6 down to Charlotte from the northeast, now over 20 years ago. Charlotte quickly became home to us and I wanted to create a website that would help individuals and families considering a move to Charlotte. I'm also the owner of The McDonald Group at eXp Realty (my day job) and have helped hundreds of folks relocate to Charlotte over the years.

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So everybody’s heard that Atlanta calls itself the “capitol” of the New South. Ok, I’ll give them that. But if Atlanta is the “capitol”, then Charlotte is the heart of the New South. Charlotte is the 20th largest city

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