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UK council tax vs. US property tax

UK council tax vs. US property tax

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Old Aug 20th 2016, 6:31 pm
  #76  
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Default Re: UK council tax vs. US property tax

Originally Posted by Mirage88
Thank you for all your input everyone, it's very much appreciated!

Here's my pennies worth -

Paying 120 quid a month council tax in Surrey you get fairly good local services, decent schools, green open spaces and parks, waste collection once a week on a Monday..etc

Paying $600 a month property tax, waste collection are not included, you have to pay this private waste collection company at $30 a month to get your garbage picked up weekly on a Tuesday.

Like one of you said, the purpose of property ownership is that you have nothing much to pay but $600 to $1000 a month in property tax cost nearly as much as rent 😔 It defeats the purpose of buying a house. So when people are retired and their income are reduced, they would still have $1000 a month property tax to pay?! How do you survive lol

I do admit American houses are A LOT bigger than our UK home.. Although I'm not sure about the quality of those houses. The one we had back in England were made out of concrete and bricks, it was solid and sound proof. The houses here most of them are made out of wood so I can hear people in the bedroom talking while in the living room and... It's more vulnerable to hurricane given its wood structure lol..
Yes I agree it's too high. But it's not quite as bad as your figures suggest- property taxes can't go up by more than maximum 2% a year (in CA), so if you had bought the house 5 years ago, when prices in many areas were half what they are now, you would be paying $300- $350 instead of $600. Also, I heard from someone that after a certain age (maybe 55), you can sell your house and buy another one at the same price and continue paying property tax like previously.
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Old Aug 20th 2016, 6:44 pm
  #77  
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Default Re: UK council tax vs. US property tax

Is it common at all for seniors to get help from the govt in reducing their property taxes in older years?

Like this sort of thing.

http://www2.gov.bc.ca/gov/content/taxes/property-taxes/annual-property-tax/reduce/home-owner-grant/senior
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Old Aug 20th 2016, 7:05 pm
  #78  
 
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Default Re: UK council tax vs. US property tax

Originally Posted by Jsmth321
Is it common at all for seniors to get help from the govt in reducing their property taxes in older years?

Like this sort of thing.

Home Owner Grant for Seniors - Province of British Columbia
I don't believe so, at least not in the states I am familiar with. Mostly I think state governments want people to downsize when they retire, to make way for families with children.
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Old Aug 20th 2016, 7:11 pm
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Default Re: UK council tax vs. US property tax

Retirement planners seem to encourage downsizing and frankly makes sense to since senior housing can be far cheaper rent wise than paying upkeep on a house.

Pretty sure we only have these sorts of programs because house values have climbed far higher in the last decade and change then they had historically and well people couldn't plan for something that was expected.





Originally Posted by Pulaski
I don't believe so, at least not in the states I am familiar with. Mostly I think state governments want people to downsize when they retire, to make way for families with children.
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