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Author Topic: land rich and money poor  (Read 3661 times)

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Offline 74cb750

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land rich and money poor
« on: July 12, 2006, 11:16:45 AM »
The tax adjusters just re-adjusted house values in the serveral villages
and town to raise taxes....now many people have mobil home trailers worth more
than $5,000 and houses are worth more than $45,000!
So many of us now have expensive houses we can no longe
afford to live in.

Does this mean, if my motorcycles were adjusted for inflation they would
now be worth about $63,000/$1,000per cycle?  ::)
peace,
michel
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supersport_CB400F

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Re: land rich and money poor
« Reply #1 on: July 12, 2006, 11:50:35 AM »
Wow I live 200 miles from London and I'm not in a special area and the average price for a house is £180,000 and  £120 tax a month on the house in my area  don’t know what that is in $’s …I’m selling up, cheap bikes cheap homes I’m movin to the US of A this little Island is getting full  ;D
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Offline Tim.

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Re: land rich and money poor
« Reply #2 on: July 12, 2006, 11:56:23 AM »
I was going to say - I didn't think there was anywhere in the developed world you could buy a house for less than $45K anymore.  Average price of a home in Toronto is over $300K.  Mine is currently worth well above that, and I have a 17 foot x 120 foot piece of property.  Thankfully I bought a while back when prices were much more reasonable.  I couldn't afford to buy my house today.

I pay $3,000 in taxes on my place - what sort of taxes are paid on a $45,000 house?

BTW - £180,000 = $360,000 or thereabouts.
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Offline my78k

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Re: land rich and money poor
« Reply #3 on: July 12, 2006, 12:19:33 PM »
Hey Tin Tin, taxes are even worse outside of Toronto...my place (in Oshawa) is worth around 200-210K and I pay about 3500/year in taxes
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supersport_CB400F

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Re: land rich and money poor
« Reply #4 on: July 12, 2006, 12:20:16 PM »
Quote from: tintin on July 12, 2006, 11:56:23 AM
I was going to say - I didn't think there was anywhere in the developed world you could buy a house for less than $45K anymore.  Average price of a home in Toronto is over $300K.  Mine is currently worth well above that, and I have a 17 foot x 120 foot piece of property.  Thankfully I bought a while back when prices were much more reasonable.  I couldn't afford to buy my house today.

I pay $3,000 in taxes on my place - what sort of taxes are paid on a $45,000 house?

BTW - £180,000 = $360,000 or thereabouts.

In London I’m sure you have to pay around £500,000 for a house with a garage. I don’t know what the council tax is like around those parts......I felt rich when I seen those $'s conversion  ;D
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Offline martini

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Re: land rich and money poor
« Reply #5 on: July 12, 2006, 01:45:19 PM »
House prices went up 55% in the past year in Calgary. My house has doubled in value in just 3 years! Older people in my neighborhood are selling and moving into condos because they can't afford to pay the taxes on the houses they have owned their whole lives. Nuts
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Offline 74cb750

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Re: land rich and money poor
« Reply #6 on: July 12, 2006, 02:28:12 PM »
Seriously,
my house went from $65,000 value to $160,000 last month,
taxes went from $1,600 to $2,500.

But I would never pay $160,000 for this dump! To me it is worth
less than $45,000.... considering I probably still have another
tracktor-trailer load of garbage to remove. Having already removed
3 tacktor-trailer loads of garbage and done extensive work to the
buildings I am becoming tired of the constant work....

I know...#$%* and moan, right?

peace,
michel.
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Offline Tim.

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Re: land rich and money poor
« Reply #7 on: July 12, 2006, 04:24:47 PM »
Density is important when figuring taxes.  I had a house out in the country with a 90 foot wide lot.  In that same footprint, there are 4 lots in Toronto.  So, for the same 90 feet of road, water pipe, sewer etc. they collect 4x the taxes in Toronto.
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Offline Gordon

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Re: land rich and money poor
« Reply #8 on: July 12, 2006, 06:06:39 PM »
If it makes you feel any better, Michel, my wife and I just bought our first house a few months ago.  A small 4br 2ba for just under $300K.  You couldn't even get an empty plot around here for $45K!  Oh well, at least our property tax is only $1000/yr.  :)
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Offline Bob Wessner

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Re: land rich and money poor
« Reply #9 on: July 12, 2006, 06:53:34 PM »
Bought our house in '72 for $24,900. Like an earlier reply, there is no way I could afford to buy my house today. We have made some additions, etc., but still. Taxes are about $4,200/yr. Fortunately, Michigan voters approved some restrictions on property tax increases years ago that limits any increase to no more than the rate of inflation. Now, when the house changes hands in a sale, the new tax rate is based on the sale price so new owners get hit pretty hard sometimes. That doesn't include special local millages, but at least you get to vote to approve or reject them. Living in "The Heart of Whine Country" has its price. Google is apparently moving a major operation here so I guess things are only going to get more expensive now.  >:(
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Offline 74cb750

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Re: land rich and money poor
« Reply #10 on: July 13, 2006, 06:42:38 AM »
The new Google operations I have heard about are related to
their new online banking operations. Therefore, being local
you might be able
to get a cheaper online loan to help pay them Michigan taxes ;D
peace,
michel
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Offline Bob Wessner

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Re: land rich and money poor
« Reply #11 on: July 13, 2006, 08:29:25 AM »
Actually, I believe it is their "click" ad division, like the links Glenn has on this site. Don't forget to click on them occasionally, Glenn gets a little revenue for them.  ;)
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Offline 6pkrunner

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Re: land rich and money poor
« Reply #12 on: July 13, 2006, 08:43:16 AM »
Here on the ocean front for the last 20 years or so foreign rich people have been buying up the seashore properties like crazy and building mansions on them. The government in its infinite greed has started to reassess the properties by factorials of 10s and 20s. One poor fellow lived in a run down shed on 20 acres of land that was in his family for the last 100 years or so. His taxes went from $395 a year to $45,000 per year. Had to sell the land. And there are many in that boat. The taxes now are more than the land and house was worth just a few years ago. The government will allow appeals but very few are winning.
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Offline GroovieGhoulie

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Re: land rich and money poor
« Reply #13 on: July 13, 2006, 09:09:44 AM »
Quote from: 6pkrunner on July 13, 2006, 08:43:16 AM
The government in its infinite greed has started to reassess the properties by factorials of 10s and 20s.

I forget who said it:

"There's no amount of money the government can't outspend."  >:(
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Offline dusterdude

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Re: land rich and money poor
« Reply #14 on: July 13, 2006, 09:12:41 AM »
Quote from: Gordon on July 12, 2006, 06:06:39 PM
If it makes you feel any better, Michel, my wife and I just bought our first house a few months ago.  A small 4br 2ba for just under $300K.  You couldn't even get an empty plot around here for $45K!  Oh well, at least our property tax is only $1000/yr.  :)
gordon,how many square feet is a "small 4br 2 ba" house.
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Offline BobbyR

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Re: land rich and money poor
« Reply #15 on: July 13, 2006, 09:57:55 AM »
Quote from: dusterdude on July 13, 2006, 09:12:41 AM
Quote from: Gordon on July 12, 2006, 06:06:39 PM
If it makes you feel any better, Michel, my wife and I just bought our first house a few months ago.  A small 4br 2ba for just under $300K.  You couldn't even get an empty plot around here for $45K!  Oh well, at least our property tax is only $1000/yr.  :)
gordon,how many square feet is a "small 4br 2 ba" house.

Well that modest 4 br house here in this part of NY would go for $500K and have a Tax bill of 12K in taxes.
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upperlake04

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Re: land rich and money poor
« Reply #16 on: July 13, 2006, 11:08:10 AM »
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Offline seaweb11

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Re: land rich and money poor
« Reply #17 on: July 13, 2006, 11:28:06 AM »
Bought my 1/2 acre of water front here in BC 5 years ago for $110,000 and spent $200,000 + building the house.
It's now worth about $800,000  :o

Taxes $2800.00  "Rural"

And no, I couldn't buy my house either.
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huntman58

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Re: land rich and money poor
« Reply #18 on: July 13, 2006, 11:32:44 AM »
kind of sounds like what happend in Calif a time back . lots of poor and older folks lost there home from this . I know i have been looking into homes and land in the 20 or more acer area . What I did find is a state that yes homes and land in this amount can still be gotten for about $125.00 and under for 3 bed and 2 bath homes that is . also the taxes are low some of the lowest in the US. . now I am not going to say were this is tell I get there and have mine so that i can complain about all the newbees moving in LOL No really found things like this IN Missouri and that is were i plan to move to in about two years unless i win the lottery first . one reason for moving is I can not afford to stay in Calif were the average home is now over $400,000.00 and most over the $700,000.00 mark .
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Offline Stormer

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Re: land rich and money poor
« Reply #19 on: July 13, 2006, 01:04:00 PM »
OK, you guys who live in US, UK, Canada and so on pay big taxes, but have some public services to use.
Try to come to Brazil.
Here we pay as much taxes as you, and have NO public services at all.
We have to pay for medical services, our police is a joque, our social security sistem is going to hell, etc, etc, etc.
We here say our contry is a "Belindia", i.e., we pay taxes like in Belgium, and have the public services like in India (no ofense).
So, where the money go to? Do you guys have any idea?
Please, HELP!!!!
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supersport_CB400F

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Re: land rich and money poor
« Reply #20 on: July 13, 2006, 01:13:21 PM »
Don’t know how they spend the money in Brazil but in the UK the political people local and national just get fat and waste the taxes.  >:(
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Offline Gordon

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Re: land rich and money poor
« Reply #21 on: July 13, 2006, 01:20:38 PM »
Quote from: dusterdude on July 13, 2006, 09:12:41 AM
gordon,how many square feet is a "small 4br 2 ba" house.

1600 square feet.  800 main level, 800 finished basement. 
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Offline seaweb11

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Re: land rich and money poor
« Reply #22 on: July 13, 2006, 01:26:52 PM »
Quote from: Stormer on July 13, 2006, 01:04:00 PM
OK, you guys who live in US, UK, Canada and so on pay big taxes, but have some public services to use.
Try to come to Brazil.
Here we pay as much taxes as you, and have NO public services at all.
We have to pay for medical services, our police is a joke, our social security system is going to hell, etc, etc, etc.
We here say our contry is a "Belindia", i.e., we pay taxes like in Belgium, and have the public services like in India (no offense).
So, where the money go to? Do you guys have any idea?
Please, HELP!!!!

Don't you get a rebate on thongs and waxing ;D

Sounds like someone is getting rich :'(
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supersport_CB400F

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Re: land rich and money poor
« Reply #23 on: July 13, 2006, 01:28:08 PM »
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Offline BobbyR

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Re: land rich and money poor
« Reply #24 on: July 13, 2006, 02:24:55 PM »
Quote from: _biffta_ on July 13, 2006, 01:28:08 PM
UK house prices  :o

http://www.whitegates.co.uk/

No offence Biff, but with those prices I will stay here in the USA, when my Son is out of School, move to another State with cheaper taxes and pocket my ridiculous profits.
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Dedicated to Sgt. Howard Bruckner 1950 - 1969. KIA LONG KHANH.

But we were boys, and boys will be boys, and so they will. To us, everything was dangerous, but what of that? Had we not been made to live forever?
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