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Old 12-27-2014, 12:05 PM   #1
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Live in USA, different taxes...

Hi everyone,

I have some questions about the life in USA,

When you buy a home, what are the different taxes?
Per month ? Per year ?

For exemple, you can have a year taxe, the cost depends of the area of your property or you can have an other taxe because you are the owner of the property but if you rent the property you haven't this taxe.

It depends of the state ? For example, I have a dream, it's to live in Arizona, near a lake or Colorado river, or around Flagstaff / Phoenix... I love many area in this state.

I remember, 10/15 years ago, I had a dream : be the owner of an Airstream... and the last yaer, I materialized my dream...

Why not a pretty house in AZ in a few years ?

Thanks a lot or your answers...

Cheers,
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Old 12-27-2014, 12:41 PM   #2
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Hi GaŽl,

The property taxes in the United States are levied by local (county/city) governments. They vary widely and are usually based upon the value of the property. For instance, in Walton County, Florida, a house valued at $150,000 would have property taxes of approximately $1,500 per year.

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Old 12-27-2014, 01:39 PM   #3
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There is federal (US government) tax on income, but no federal tax on property.
Where I live there is a state tax on income. But, there is no state property tax.
Where I live there is a county tax on property(both real estate and personal).
There is also an additional city tax on property, if the property is within the city boundaries.
Each vehicle, boat, airplane, etc... is taxed at both city and county level. There are license fees in addition to tax. Vehicle licenses cannot be purchased until proof of insurance and payment of tax is provided to the licensing authority.
There are various other taxes, like sales tax on purchases, road tax on purchases of vehicles, road fuel tax on gasoline or diesel, telephone use tax, etc ....

There are also various income and property taxes on a business' property and business' profits!

State, county, and city taxes vary by location. Federal tax is the same everywhere in the US.
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Old 12-27-2014, 01:55 PM   #4
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As you can see, the tax situation varies from State to State, and county to county, down to city by city. You'll have to narrow down your search to an area, then research the taxes for that area. For an idea of property taxes in any area, try using Zillow.com where you can find the tax history with every real estate listing.
Good luck with your search!
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Old 12-27-2014, 02:05 PM   #5
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Thanks to you, thanks for your answers,

As I can see, and as you told me, the taxes varies from where you live, I didn't think that...

Yes, I know Zilllow, this afternoon, I looked during 2 hours some properties for sale.

But I don't understand one thing...

I agree to find properties for sale for $150.000 and more, but how is it possible to find properties at $30.000... ? Nobody wishes to live here ? Perhaps it's too far from main city ?
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Old 12-27-2014, 03:40 PM   #6
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You had one comment about paying taxes when renting out the property....I know in Europe the cost of local tax passes to the occupant (I own two houses in the UK and the people that rent those houses pay the tax) whereas in the US the cost of rent tends to include the cost of the local tax as that is owed by the property owner.

Another thing that is different in the US is what happens if you have a loan secured against the property; it is common for the payment made to a mortgage lender to include the local tax and also insurance for the house, and then the mortgage lender pays the tax and insurance.

If you are seeing property that appears to be offered for sale at less than expected it is also possible that there are additional charges against the property - as an example we were looking to buy a second (holiday) home in Florida and one particular complex had properties that were for sale for very little cost, but when I contact the Realtor (the real estate agent responsible for selling) there were 'resort charges' unpaid for several years which effectively passed to the new owner and so devalued the property - this is quite common in vacation locations.
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Old 12-27-2014, 03:45 PM   #7
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If you are referring to your results from an online source, I would forget that and get a realtor.

There are many things about a house that those listings do not show, and you can only find them out by using someone with "feet on the ground" in the area in which you are interested. If there is a toxic dump next door, (s)he should know about it.

If realtors' fees in the US are anything like here (in Canada), you will pay a percentage to the realtor when you buy no matter how you buy it, so make use of their service.

But here's an interesting fact: I believe that US citizens can deduct home mortgage interest against their taxable income. No idea how citizens of other countries who own US real property make out on that though.

Also, capital gains are, for the most part, taxable. Again, no idea of what foreign owners pay.

If you are serious about this, in your place I would take a week or more to go there to meet with a lawyer and find a good realtor in the area. That's the only way to get the real information you will need to make an informed decision.

Bonne chance!
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Old 12-27-2014, 04:04 PM   #8
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One of Gaels questions was about $30,000.00 properties (houses). Yes, there are $30,000.00 houses, but, they would be in bad shape (need lots of work) and in a bad part of town. Most Real Estate Companies web sites have search capability and are able to search between $0 and higher than I can count.
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Old 12-27-2014, 04:21 PM   #9
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Quote:
Originally Posted by Craig Schrader View Post
One of Gaels questions was about $30,000.00 properties (houses). Yes, there are $30,000.00 houses, but, they would be in bad shape (need lots of work) and in a bad part of town. Most Real Estate Companies web sites have search capability and are able to search between $0 and higher than I can count.
They might also be very far out of town and not near any services (police, fire and utilities (water, electric, gas, sewer and trash collection). It might be a very long drive to shop, groceries, medical care, entertainment etc. You could probably find cheap property in the middle of an Arizona desert, but would you want to live there? When I lived in Florida they used to say 'Land of sunshine, but it's not free sunshine'.
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Old 12-27-2014, 09:25 PM   #10
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Can't PM ya.. good luck.. you can find some isolated properties for that cost.. or places few would 'want' to live.. well, depends upon what you call 'living'. If you are seeking a place to 'land' in the US... it is possible to make creative choices. There are a few options such as securing a real estate agent in the area of your choice... that is where I would begin.

Good luck.
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Old 12-28-2014, 05:23 AM   #11
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Quote:
Originally Posted by martin300662 View Post
You had one comment about paying taxes when renting out the property....I know in Europe the cost of local tax passes to the occupant (I own two houses in the UK and the people that rent those houses pay the tax) whereas in the US the cost of rent tends to include the cost of the local tax as that is owed by the property owner.
Each country in Europe is different, for example in France, if you are a property owner, you have some taxes :

- Annual taxe for the area (in september): it depends the acre of the property and where you live, it's different (very different) if you live in Paris or in a lost countryside...
- Annual taxe for the house/appartment (in september): it depends the sqft of the house/appartment and increased if you earn money...
- Annual taxe (in september) if you are relatively rich, if you have a property where the value is more of $1.000.000, you have to pay a special tax.
- And of course some taxes, insurance, when you buy a house to a professionnal (Realtor), you pay around 2-5% of the house's value, and you pay the notary... you save 50% if the house has less of 5 years.

Many expenses in September !

The area where is the most expensive is in Monaco... an appartment 500sqft... between $1.000.000 and $2.000.000 ... !!! Paris is lot cheaper than Monaco !

Quote:
Originally Posted by martin300662 View Post
If you are seeing property that appears to be offered for sale at less than expected it is also possible that there are additional charges against the property - as an example we were looking to buy a second (holiday) home in Florida and one particular complex had properties that were for sale for very little cost, but when I contact the Realtor (the real estate agent responsible for selling) there were 'resort charges' unpaid for several years which effectively passed to the new owner and so devalued the property - this is quite common in vacation locations.
Yes, I've already seen in TV some properties in Florida (or other city in USA) that the future owner will have to pay charges unpaid since several years... wow...


Quote:
Originally Posted by Aage View Post
If you are referring to your results from an online source, I would forget that and get a realtor.

There are many things about a house that those listings do not show, and you can only find them out by using someone with "feet on the ground" in the area in which you are interested. If there is a toxic dump next door, (s)he should know about it.
[...]
If you are serious about this, in your place I would take a week or more to go there to meet with a lawyer and find a good realtor in the area. That's the only way to get the real information you will need to make an informed decision.

Bonne chance!
Yes of course, I never buy an house only by web, we have to come in USA for holiday and see personaly different properties but dont forget one thing too... is to live somewhere during holidays is different that to live during 2-3 months... hummm...
This buying needs more reflexion before sign a contract.

Merci !

Quote:
Originally Posted by Aage View Post

If realtors' fees in the US are anything like here (in Canada), you will pay a percentage to the realtor when you buy no matter how you buy it, so make use of their service.
Yes of course.

Quote:
Originally Posted by Aage View Post
But here's an interesting fact: I believe that US citizens can deduct home mortgage interest against their taxable income. No idea how citizens of other countries who own US real property make out on that though.
There a few years ago, we deducted home mortgage from income taxes

Quote:
Originally Posted by Craig Schrader View Post
One of Gaels questions was about $30,000.00 properties (houses). Yes, there are $30,000.00 houses, but, they would be in bad shape (need lots of work) and in a bad part of town. Most Real Estate Companies web sites have search capability and are able to search between $0 and higher than I can count.
Quote:
Originally Posted by richw46 View Post
They might also be very far out of town and not near any services (police, fire and utilities (water, electric, gas, sewer and trash collection). It might be a very long drive to shop, groceries, medical care, entertainment etc.
Ok... I understand better now, finally, we have the same in France, cheapers property but many work and far from every where...

Quote:
Originally Posted by richw46 View Post
You could probably find cheap property in the middle of an Arizona desert, but would you want to live there? When I lived in Florida they used to say 'Land of sunshine, but it's not free sunshine'.
At the moment, I'm finding out about the different possibilities
Perhaps one day I'll buy an house around Arizona or not... only the future tell it !
It will be a property only for holidays, not to live during all the year,

Quote:
Originally Posted by richw46 View Post
When I lived in Florida they used to say 'Land of sunshine, but it's not free sunshine'.
Why ?

Quote:
Originally Posted by cwf View Post
Can't PM ya.. good luck.. you can find some isolated properties for that cost.. or places few would 'want' to live.. well, depends upon what you call 'living'. If you are seeking a place to 'land' in the US... it is possible to make creative choices. There are a few options such as securing a real estate agent in the area of your choice... that is where I would begin.

Good luck.
What does it mean "PM" ?
So, for my future, I'm looking for a good place to be relax, without population, without noise, beautiful landscape etc.

Thanks
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Old 12-28-2014, 06:05 AM   #12
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I would suggest the following; choose the general area in the USA that you think you may be interested in. Then use google maps to find towns near the area you have chosen. Then google "home rentals" for the town you have chosen. Some realtors also help with rental homes and there are also "property management" companies in most towns that can help you find a rental home. If you can find a home to rent then you can use the rental home to live in while you explore the area more and become more familiar with the local real estate market. (Prices,taxes,etc)
Do not sign any purchase contract papers, none, until you obtain an attorney from the local area to help you understand the documents and home purchase process here in the USA. The fee for an attorney will vary but in the price range you have mentioned, your attorney fees should be well under $1000.
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Old 12-28-2014, 06:06 AM   #13
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And I think I have to pay the property in USA in the totality without credit.

We can't have the possibility to make a credit payment for a property, our banks don't accept and I don't want too.
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Old 12-28-2014, 06:11 AM   #14
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I would suggest the following; choose the general area in the USA that you think you may be interested in. Then use google maps to find towns near the area you have chosen. Then google "home rentals" for the town you have chosen. Some realtors also help with rental homes and there are also "property management" companies in most towns that can help you find a rental home. If you can find a home to rent then you can use the rental home to live in while you explore the area more and become more familiar with the local real estate market. (Prices,taxes,etc)
Do not sign any purchase contract papers, none, until you obtain an attorney from the local area to help you understand the documents and home purchase process here in the USA. The fee for an attorney will vary but in the price range you have mentioned, your attorney fees should be well under $1000.
Thank you for your answer !

Yes, Google maps helps me very well, it's a very good system to see some areas (for this subject or for holidays of course).

So, have some weeks in the area wished is essential
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