Tasty Acres Homestead (From 2020 jump to 2023)

[TAH]

Perhaps you misunderstood what your Dad said..
They charge that much tax per building or appraise their value as that much?
According to Alaska State website information, the average property tax for all areas that have one, is 1-1.3%.
For a building to generate $1000 in tax revenue at the 1% rate, it would have to be valued at $100,000. At the highest rate of 1.3%, that same building would still only generate $1300..assuming again it was valued at $100,000 for tax purposes.

If the building was valued at the highest range in your post ($4000) then the approximate tax on it at the 1.3% rate would be $52.

I read what you wrote to my dad and asked if that is what he meant.... Yeah, I misunderstood him.

What you wrote makes much more sense.

 

[Bruce]

My taxes here, even with the ag exemption, came to a little over 1% Paid $170K for this place. Gotta start paying that ~$1700+ bill here next week.

I'd cry for you if my taxes weren't well over $6K and we have income taxes here as well.

Now Bruce that is what my dad is going to do..... That is when his tractor is fixed..... He bent the backhoe by moving a stump that was huge.

That's too bad. I guess like all of us he tries to push the machinery. I'm pretty sure I've done things with my garden tractor that the manufacturer didn't plan on. Luckily I've not broken an

I think for the place we live it is 2400 this year.

I read what you wrote to my dad and asked if that is what he meant.... Yeah, I misunderstood him.

What you wrote makes much more sense.

And @greybeard comes through again Guess there isn't quite the rush to get those buildings down though no one wants to pay taxes on a dilapidated falling down building.

 

[greybeard]

No use having to pay taxes on a structure you can't use because of it's condition.
I'm considering contesting my appraisal next spring, armed with pictures from late last August. That is a 2 edged sword that cuts both ways tho. If we do put this place up for sale, an appraisal that is lower can hurt resale value, not that I would ever be able to conceal or ignore the flood potential here anyway. Fortunately, I don't have a mortgage so I don't have to worry about getting upside down in it and unless beef prices really drop, the cattle at minimum will always pay the taxes anyway.

 

[CntryBoy777]

Well, our taxes on 20acres is about $500....

 

[Bruce]

Well, our taxes on 20acres is about $500....

Ah shaddup


You know I'm kidding of course. Those kinds of taxes would leave a lot more in my pocket for things like ... house foundation repair.

 

[TAH]

Well, our taxes on 20acres is about $500....

 

[greybeard]

Wow, I told dad and he said he was about to cry.

Now Bruce that is what my dad is going to do..... That is when his tractor is fixed..... He bent the backhoe by moving a stump that was huge.

I noticed a crack in the boom of my Case 480C backhoe a few years ago. I ground it out some with an angle grinder, welded the crack up and then welded a big 1/2" thick fishplate over it. Been fine ever since.
(except all the little hyd leaks everywhere, but the dang thing is 39 years old this year and was wore out when we acquired it from a county surplus equipment sale..)

 

[babsbag]

Our taxes are about 1% of the purchase price and there are no reappraisals so the only time the value changes is if you make an improvement and then they only assess the improvement, not a reassessment on the entire property. Can't complain too much.

 

[greybeard]

Our taxes are about 1% of the purchase price and there are no reappraisals so the only time the value changes is if you make an improvement and then they only assess the improvement, not a reassessment on the entire property. Can't complain too much.

So, if you were to buy property, make just minimal improvements on it and perform regular maintenance, and keep the property 15-20 years, you would never see the appraised value (for tax purposes) increase? How do the counties there contend with increased true market values? Seems the counties would be losing tremendous amounts of tax revenues if their appraisals don't keep up with market value over time.
Property values here have skyrocketed over the last 5 years and they try to keep the tax appraisals as close to true market value as they can, re-appraising every few years.

 

[babsbag]

So, if you were to buy property, make just minimal improvements on it and perform regular maintenance, and keep the property 15-20 years, you would never see the appraised value (for tax purposes) increase?

That is exactly correct. Back in 1978 the voters passed the infamous Prop 13 and it ended tax increases and reappraisals and set the tax cap at ~1% and it has been in place ever since. It would take an army to over turn that as it amended our constitution. It hurt a lot of schools and other public agencies but it allowed people to keep their homes as many people, especially those on fixed incomes, were selling due to the taxes that seem to go up every darn day. They literally couldn't afford to keep a home that they had no mortgage on due to taxes. It was a great law for property owners, not so great for cities and counties and they have struggle ever since to find a revenue base.