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Taxes

20 years ago

We just got assessed and are contemplating selling our home simply because of the taxes. DH and I are devestated. How are people dealing with this? We have a rural lot and deal with our own water, septic, and trash removal. What is this economy coming to? Another problem is that if we sell we don't even know where we can go to escape the rising taxes.

Sorry I just had to vent.

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Comments (4)

Chemocurl zn5b/6a Indiana
20 years ago
Lily,

I have recently been helping a friend look for a place. He may be having to sell because of he and his neighbors signing options to sell to HONDA who is looking to build a new plant. He is looking for something in the rural, and we found if the property is our of the district of the brand new consolidated school, that taxes are quite reasonable. Taxes may play a part in where he decides to live, along with a lot of other things.

Might you ask the Treasurer's office if there are areas in the county that have lower taxes? Is the country an option?
The treasurer does work for us you know...us paying their wages and all.

I hope you find something good within reason.

Sue
steve_o
20 years ago
If your taxes have risen high over just the last year or two, there may be a provision in your area to appeal the assessment. That is, if, indeed, an increased assessment is what's causing the tax increase. Call the office that sends out the property-tax bill.

If it's that the tax rate is too high, then your only alternatives are to vote with your feet -- move someplace cheaper or, come Election Day, vote out the folks who made that tax rate necessary.
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From a tax standpoint, it would have been better had you been able to sell when you moved. But, you did a good deed, and now you have some aggravating paperwork to deal with, but it should not be a major worry. Remember that in addition to the $12,000 you paid in 1965, that you undoubtedly made improvements to the house over the years. Those improvements would increase your cost basis in the house, and reduce the gain on sale. In all likelihood, your gain is quite small, and won't cause you to owe any taxes. However, the IRS does have the Form 1099 reporting the $50,000 sales price, so you should see a volunteer tax preparer to report it.
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Chemocurl zn5b/6a Indiana
20 years ago
They found an error in mine after the reassessment. It made a difference of about $600 on the year.

They had taxed some of the woods as if it was a lot, instead of woods....Big difference in the value.

Sue
davidandkasie
20 years ago
you could move to another area of the country. My total taxes on a 2400 sq ft house on 4 acres is less than 900.00 per year.

other than that, appeal the increase and see where it gets you.

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