# Property tax and home insurance........Ouch !!



## IKE (Dec 5, 2017)

It seems like they both keep going up a little every year......I just wrote two checks totaling $3533.82 for 2018 property tax and home owners insurance.

At this rate pretty soon we're going to have to sell this place and move into a teepee in somebody's backyard......we're real quiet and will make good neighbors, anybody want to volunteer their backyard ?


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## Capt Lightning (Dec 5, 2017)

Forgive my ignorance IKE, but what is Property Tax ?  I'm wondering if it's what we pay as 'Council tax'.  This is based on the property value and goes to pay garbage collection, road maintenance, water and drainage etc...


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## IKE (Dec 5, 2017)

It's kinda long Capt. but this should explain it.

https://smartasset.com/taxes/oklahoma-property-tax-calculator


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## terry123 (Dec 5, 2017)

I don't pay property tax since my homestead exemption and over 65 exemption figures in.  Of course this is a 2 bedroom condo and I used to pay it when I had a big house.


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## SeaBreeze (Dec 5, 2017)

Ike, you might research a senior discount for property taxes, if you haven't done so already.  https://www.seniorforums.com/showth...-Tax-Exemption-for-Seniors?highlight=property


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## IKE (Dec 5, 2017)

Thanks for the heads up SB......I'll call county treasurers office tomorrow morning and see what they say.


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## Capt Lightning (Dec 6, 2017)

IKE, thanks for the link.  It sounds a bit like the UK.  Each county here sets its own rate.  It is not based on exact property value, but which range of values it fits into.  These value bands range from A-J where A is the lowest.   I live in a small village where my house would cost approx $200k (Band C).  For my property tax, water and drainage, I pay approx $1700 at current exchange rates.  Like you, we get reductions for various things like single occupancy,  disability etc.


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## IKE (Dec 6, 2017)

IKE said:


> Thanks for the heads up SB......I'll call the county treasurers office tomorrow morning and see what they have to say.



Update; I called this morning and there is a senior property tax discount available but the way it works in Oklahoma is that in order to receive the discount you must be over 65 and the total combined household gross yearly income has to be under "X" dollars.......our gross income is over "X" so we don't qualify.


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## debbie in seattle (Dec 6, 2017)

IKE said:


> Update; I called this morning and there is a senior property tax discount available but the way it works in Oklahoma is that in order to receive the discount you must be over 65 and the total combined household gross yearly income has to be under "X" dollars.......our gross income is over "X" so we don't qualify.



Same for us here in Washington State.   Always hear about these folks that get it, wonder how they did?


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## squatting dog (Dec 8, 2017)

debbie in seattle said:


> Same for us here in Washington State.   Always hear about these folks that get it, wonder how they did?



 We be poor folk here in Arkansas. therefore, with the homestead exemption our taxes are now 300 a year, and once you're over 65, it's locked at that price. Now insurance is a whole different worm. 
the 300 is for the house and 6 acres. the other 27  acres cost 80 a year


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## HipGnosis (Dec 18, 2017)

I just changed my Ins. Co.  I shopped around (since I'm retired now I have the time) and lowered the cost by 33% by switching to Travelers.
Travelers. said they would notify the old co.   
The old co. called and said that because I didn't notify them, they are fining me (after they said my payment was late).  I'm probably not going to pay it.  
20 yrs ago, I put a lawyer on retainer for my divorce.  My first time dealing with a lawyer.  The lawyer wrote some letters (that I'm sure will done with fill in the blanks templates) to the ex's lawyer and the court.  Then they said the retainer was used up.  I told them I was broke - honestly and literally as the ex had somehow multiplied 'our' debt.  They billed me $300 for terminating.   I STILL get a bill from them every month.  And every month, I wipe the envelope on the bottom of my pants as I take it straight to the trash.


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## KingsX (Dec 18, 2017)

.

Home and car insurance and property taxes are my biggest expenses.

This year my home and car insurance equaled by property taxes !!

Total for all three was about $5500.


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## KingsX (Dec 18, 2017)

IKE said:


> Update; I called this morning and there is a senior property tax discount available but the way it works in Oklahoma is that in order to receive the discount you must be over 65 and the total combined household gross yearly income has to be under "X" dollars.......our gross income is over "X" so we don't qualify.




Here in Texas,  the over age 65 property tax discount is NOT tied to income or assets.
Every homeowner over age 65 gets it. Dallas County gives it automatically if they have 
your birth date on file.  I turned 65 this year and was given the discount automatically.

But overall Texas property taxes are probably higher than Oklahoma.


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## Big Horn (Dec 18, 2017)

Wyoming has the lowest personal tax rate of any state.  Real estate tax averages about 1/2 of 1% of market value.  Sales tax is either 4 or 5%, depending on the county.  We have no state income tax.


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## KingsX (Dec 18, 2017)

squatting dog said:


> We be poor folk here in Arkansas. therefore, with the homestead exemption our taxes are now 300 a year, and once you're over 65, it's locked at that price. Now insurance is a whole different worm.
> the 300 is for the house and 6 acres. the other 27  acres cost 80 a year




My family has lived in the Arkansas Ozarks since before the civil war. My parents had a farm near Fayetteville.
But I was born and raised in Texas.  My brother wants me to move to Arkansas. But Arkansas has too many taxes...
none of them are very high taxes... but there are so many different taxes... how do you keep track of all of them ??  
The aggravation alone would kill me.

.


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## KingsX (Dec 18, 2017)

Big Horn said:


> Wyoming has the lowest personal tax rate of any state.  Real estate tax averages about 1/2 of 1% of market value.  Sales tax is either 4 or 5%, depending on the county.  We have no state income tax.




Nice financial stats... but too cold for me.

I live in Dallas and every winter I dream of moving further south.

.


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## Ken N Tx (Dec 19, 2017)

KingsX said:


> Nice financial stats... but too cold for me.
> 
> I live in Dallas and every winter I dream of moving further south.
> 
> .



I am North of you, Denton County...Getting crowded up here!!!!!!


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## Don M. (Dec 19, 2017)

Moving to the country has saved us a bunch on property taxes, etc., compared to what the costs are in the city.  Even our auto insurance is lower....and we get a nice break if we keep the annual vehicle mileage under 7,000 miles each....which is easy to do with two vehicles, and not having to run to work every day.


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