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

  1. #1
    Join Date
    Dec 2014
    Location
    Oklahoma....U.S.A.
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    2,090

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

    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 ?

    tent.jpg

  2. #2
    Join Date
    Oct 2013
    Location
    Scotland
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    1,473
    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...
    We're not here for a long time. We're here for a good time

  3. #3
    Join Date
    Dec 2014
    Location
    Oklahoma....U.S.A.
    Posts
    2,090
    It's kinda long Capt. but this should explain it.

    https://smartasset.com/taxes/oklahom...tax-calculator

  4. #4
    Join Date
    Feb 2016
    Location
    Houston, Tx.
    Posts
    1,180
    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.

  5. #5
    Join Date
    Mar 2012
    Location
    USA
    Posts
    30,673
    Ike, you might research a senior discount for property taxes, if you haven't done so already. http://www.seniorforums.com/showthre...light=property

  6. #6
    Join Date
    Dec 2014
    Location
    Oklahoma....U.S.A.
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    2,090
    Thanks for the heads up SB......I'll call county treasurers office tomorrow morning and see what they say.

  7. #7
    Join Date
    Oct 2013
    Location
    Scotland
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    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.
    We're not here for a long time. We're here for a good time

  8. #8
    Join Date
    Dec 2014
    Location
    Oklahoma....U.S.A.
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    Quote Originally Posted by IKE View Post
    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.

  9. #9
    Join Date
    May 2015
    Location
    Seattle
    Posts
    1,062
    Quote Originally Posted by IKE View Post
    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?

  10. #10
    Join Date
    Jul 2015
    Location
    Arkansas, and the highway
    Posts
    172
    Quote Originally Posted by debbie in seattle View Post
    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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