Community Forums

Clayobx · 12-01-2014, 08:26 AM

Quote:

Originally Posted by VP Chianese

I guess I'm not sure of how you figure this.

The tax rate is the tax rate. So over paying doesn't effect the rate of tax it just effects how much you pay in total dollars. As in buying an item at $70k or the same item for $140k. The rate is x% so the taxes are then calculated at that percent.

Now if you are saying that someone from Norfolk came down, bought a farm in your area and they overpaid which in turn drove up the value of your property then thats a different story.

Over in New Bern that story went on for 10 years. I watched a home that was built on a water front lot by the owner from the "whats on sale at Lowes" bin. He went as far as toe buy s set of windows that Lowes had discounted 50% for what ever reason and then framed the house to match the windows. He bought everything in the house that way. It took him a year to build the house that a builder would have had done in 90 days. Not because he didn't have the time but because he was waiting for sheetrock to go on sale. Anyway when he was done he had a $20k lot and less than $80 in the house. Lived there for a couple of years and sold it to a guy from Kinston for about $250. This guy lived there for about a year, had to move back to Kinston for his business and he sold it to a guy from CT for $340. The crash came seven or eight years ago and it is now a rental on the river. He can't get out of it for anything over $200k. So he is stuck.

But that same thing happens in FL housing as well. So why do they not have the taxes we do? In FL everyone pays for a boat license, USCG documented or not but not property tax. Until two years ago we didn't do that here in NC. Documented boats didn't have to have a state sticker. Now we have both, property tax and the state sticker. No sales tax on a boat here. FL charges a sales tax on a boat. So we elect to not pay sales tax so that we can pay property taxes. Sales tax no matter what the rate, is a one time expense, property tax is a gift that just keeps on giving.

Yet we have school systems here that are miserable failures. The state ranks 23rd in the nation on one survey and has a grade of C in education in another. NC ranks as a low spending with poor systems in yet another survey. On the bright side the medical care is is second to none, or at least here in the RDU Triangle. Between DUKE and UNC hospitals and med schools you have two of the premier medical schools in the country. Our Vet school at NC State is excellent as well.

I agree wholeheartly with the above quote. DW and I loved NC, living in the mountains and the coast was a great experience. Contrary to what was stereotyped in the "moving hear and paying too much" consequently is BS. In our case we selected very wisely buying fixer uppers and when selling lost money due to the downturn in house values. We will not be classified as the culprit in the so called driving up of property taxes and personal property taxes along with registration fees etc., etc. unfortunately NC residents voted in over the last eight to nine years their representatives based on the absurd strategy"we'll lower your taxes". Well now your paying for it. We simply choose to take or loss, multiple losses I might add, and move to a much more economical environment. It's a shame.