The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Late Start but still want to retire early!||Date: 3/24/2004 1:35 PM|
|Author: intercst||Number: 158988 of 737173|
I think pekinrobin lives in Louisiana. Real estate there is cheap and they have a relatively large homestead exemption. I'm pretty sure that you'd pay little or no taxes on a $50,000 home.>>
Wow! $50k exemption!!! The exemption in Texas has been 15k since as long as I can remember. My 1st house cost 58k and I got a 15k exemption back in 86. I'm in my 3rd home with an eval at 250k and I still get the 15k exempt. However, tax rates have climbed in my locality substantially. I paid $6,100 last year alone and have for that reason alone, am considering moving after my son grads from HS. I love the home and area but paying 6,100 is way too high IMHO.
Here's a link to the Baton Rouge tax assesor's home page. The Homestead Exemption is $75,000. A $75,000 house in Baton Rouge would have a lot more room than I need.
The homestead exemption doesn't exempt municipal taxes if you live within the city limits. As I remember, in the City of Baton Rouge you'd owe about $40 in annual municipal taxes on a $50,000 home.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|