- Im looking at buying a home and I cant seem to find a place where I can even get an estimate of property taxes Ill have to pay. (in Suffolk county new york if it helps). Thanks.
Answer by mplsundin
Ive been in this problem before and I have two suggestions:
1) Find the county assessors website and often it will contain a link that lists the districts and their appropriate property tax rates (youll most likely have to a do a calculation that consists of the value of your home less rollback and other deductions multiplied by the property tax factor).
2) Most sellers/realtors have property tax info if you ask when purchasing a home and if not this information is sometimes available on the county assessors webpage as well. It will often list what past taxes have been assessed to the property.
- People start accusing me of random nonsensical things. Why is that?
I literally did a mathematical calculation. Theres no need for drama. I used math. Why are people deluding themselves and others, and acting crazy? I used math. This is a mathematical calculation.
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Basically I calculated the mathematical average total amount of taxes paid per person per year as a percentage of average yearly income in the United States.
First of all, the full 15.3 percent of social security and medicare is paid per wage-earner. Theres no arguing about whether only the “half the employee” pays “should be counted or not.” Both halves get paid for each person.
Second, property is paid on property. Everyone lives in property except homeless people, and that tax is paid for them to live on property.
Basically, Im calculating the total loss of income because of government taxes and other government fees.
Do people think I should not calculate this or something? Why do people act delusionally when I do this, and basically use personal attacks, instead of styles of communication such as Socratic discussion, to add to the sum of knowledge in this topic/forum?
Sum federal income tax for average(mean) income: 16%
Social Security and Medicare: 15.3%
Average state income tax: 5%
Average state sales tax, modified to reflect percent of goods sales tax is paid on: 2.3%
Average property tax as a percentage of average income: 2%
Heres the way I did this:
(100-16)*.847*.94*.977*.99 – 2 = 62.7%, meaning the total tax rate(that is accounted for), for a person making average income is 38.3%.
This does not include various government fees, governement-mandates insurance (also A Loss of Income because of government mandates), taxes and fees regarding building, construction and maintanence, fuel taxes, utility taxes, and taxes that are paid twice (which sometimes happens when various forms of taxes are paid twice in the production of a single product for one person).
If one were to include $ 150 per person in taxes for contruction and maintenance taxes (how much of your rent goes to building or maintenance or HOA dues and how much of that goes to taxes?), $ 100 in various other government fees per year (how much do you pay per year in various government fees?), that raises it another 1%. If one includes government-mandated insurance, that easily raises it another 1.5%.
This is just an illustration. Im NOT FORCING anyone to Include those above mentioned fees, highly variable taxes, and government mandated insurances, or fines, into the calucation. Im JUST MENTIONING THEM as a Loss of INCOME because of government taxes, fees, and regulations.
I was basically asking if I did the math correctly, but everyone who answered act totally crazy, and starting accusing me of totally delusional things that have absolutely nothing to do with the topic at hand.
Are people just brainwashed to defend the U.S. or something even against the truth of their tax rates? I dont get it.
Why are people going crazy over this?
If you want to argue against math – present facts.
“Popular opinion does not define truth.”
Well, I searched for a long time to find a mean income, because thats what I needed. And what I found was from 2004, and it was 60,000. I also was asking if anyone had any later statitistics.
I also accounted for about $ 5,000 of tax credits.
I used one of the income tax calculators to do this.
I found data that said the average value of property tax was about $ 1,400 per year. That is actually more than 2%. And re-researching this, it looks like $ 1,400 was a bit higher than current research indicates — however, $ 1,200 (which is 2% of $ 60,000) seems to be about right.
I didnt calculate property tax as a percent of income. I calculated average property tax as a percent of mean income, which is mathematically perfectly fine.
Yeah, there are some states that dont have sales tax. And there are some states where the sales tax is 9%. I looked at a table outlining them all, and yeah, I estimated it to be 5% on average, rather than add them all up and divide by 50. But even thats not accurate, because it doesnt account for the population difference modifications. States with higher populations deserve more weight than states with low populations.
Look if you have actual data, or logical arguments to add to this, Id love to hear it.
But you dont even consider the math. You dont look for the data yourselves so that anyone can actually PRESENT a LOGICAL argument against what Ive presented. Most of what I get in response is INSULTS that have no basis on facts or relevance whatsoever. Or emotionally charged highly dramatic OPINIONS without any factual basis or even any attempt at presenting any logical statements.
The question is, WHY? Nationalism?
What I am trying to do is calculate LOSS OF INCOME because of government taxes, fees, etc.
And… once again (because you “people) dont get it the first — what?— 5? times Ive said it?
Ive spelled it all out for you cleanly and simply. If you dont want to include Government Fees, DONT. Its CLEARLY DILINEATED for you what the perecentage is TOTALLY WITHOUT FEES and ALWAYS HAS BEEN.
Your statement that Im “insisting on including fees” is a LIE, very simply. I can include them to calculate LOSS OF INCOME because of fees on average if I choose. If you dont want to, the percentage WITHOUT them is RIGHT THERE IN FRONT OF YOU WITHOUT INCLUDING THEM.
Why are you LYING?
Answer by Quick Answers
We argue because you mix and match populations and taxes.
For example, you claim the mean income person pays 16% in income tax.
Where did you find statistics for mean? Virtually every published article uses median. After all, after you throw Bill Gates into the mix, we all look like we make a lot of money.
What was your average income? I can find a median income for 25 to 65 of $ 39,000. The federal tax on that is $ 3953 (single, no kids, no deductions, no credits, ordinary income only). Thats 10%, NOT 16%.
If you use a household with children, credits, itemized deductions, etc, the amount paid goes DOWN. 50% of households pay $ 0 in tax.
You want to come up with totals for state income tax, sales and property tax. While almost every state has at least one of these, most have 2 and a few have 3. Calculating property tax as a % of income is a hopelessly wrong. Its always a % of the value of the property.
A reliable think tank calculates a tax burden by state. Their average burden is 10% for all taxes, regardless of type at the state level.
- How much is a tax refund on $ 25,000 and what is Minnesota property tax refund in Minnesota? Any help would be appreciated thanks.
Single home owner $ 80,000 house nothing special all basic normal stuff
With 15 year mortgage 3.1% APR
Answer by Rob
not enough info for a guess.