Colorado Springs is a cheap place to live!
It's no secret that I'm a statistic junkie; as I find numbers fascinating. I recently came across a web site by the Tax Foundation that provides comprehensive comparisons on property taxes for all counties in the United States. One of the many things people don't think about when buying a house, is their property taxes; as it can make a big difference in their house payment. The following is a quick summary of some of the info I found on their web site.
- El Paso County residents paid $930 in annual property taxes from 2005 to 2007.
The tax, which is paid by businesses and home owners, ranked 1577th among 1,817 counties in the U.S., according to three-year estimates compiled by the U.S. Census Bureau and released Monday by Tax Foundation, a Washington-based nonpartisan group that has monitored fiscal policy levels since 1937.
- Douglas County ranked 992nd, as taxpayers doled out $2486 on property taxes during the three-year span. Median income for Douglas County home owners was $103,187 and property taxes as a portion of that translates to 2.4%.
- The top three counties in the United States for their median real estate taxes were: Westchester County, N.Y. ($7,908); Nassau County, N.Y. ($7,726); and Hunterdon County, N.J. ($7,708). (Sure glad I don't pay these taxes!)
- The lowest property taxes in the United States were paid in Vernon Parish, La. ($115); Allen Parish, La. ($116); and Franklin Parish, La. ($117). (The average value of their homes are around $45,000 to $65,000.)
- Here's a quick summary of El Paso County and some of the surrounding counties.
|County||Median Property taxes paid on Homes||Median Home value||Tax as % of Home Value||Median HomeOwner Income|
|El Paso County||$930||$205,200||.05%||$69,129|
One more piece of tax trivia for you ............... Tax Freedom Day® arrived April 23 in 2008, America had to work three days less than in the 2007 to pay taxes in 2008. This day does vary state by state.
Original Article posted at: El Paso County taxes are some of the lowest in the nation!
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Posted by KAT