Article - Most home renovations don't pay off
On Mon, 15 Nov 2010 20:36:14 -0500, "Colbyt"
wrote:
wrote in message
.. .
On Mon, 15 Nov 2010 01:10:42 -0600, Vic Smith
I moved from The People's Republic of Vermont and bought a house in
Eastern
Alabama. My taxes went from $6,000 to $1,700. My most recent bill was
$1,500, definitely in the right direction. There was no way I was going
to
retire in Vermont if I had to pay $500/month just to own my house. I
might as
well rent. Oh, and the weather in Vermont sucks just as badly as the
politics.
Would that be on a house of the same value both places?
Almost identical (within a half percent).
Or did you manage to buy a comparable house for less money?
Same money, far more house. It's about 50% larger (2600ft^2 vs. 1700ft^2), an
additional bathroom, and far more features. No basement. :-(
Most places tax on the actual value and I have heard the NE is one of the
highest. Here it is about 10.50 per 1000 of valuation and I consider that
onerous. Old-timers get to whack 20K off the assessed value. Whoopee!
Indeed. It's about .5% here. That includes a 50% "homestead deduction" for
owner-occupied housing. A second home would then be double, but that's still
only half of $6K.
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