WOMEN AGES 50+ FOR OCTOBER 2018

Lisa - We don't have that kind of property tax. Is that something you pay yearly, or monthly?
What we do have is the dreaded 'stamp duty' , which means we are actually handing over to the government a bit short of $50,000 for the pleasure of exchanging one roof for another. The houses are very little different in price and it is our only home. Poor DH has had to reach into deep savings. That was what he was doing yesterday at the bank. With the cost of the estate agents, the solicitors and the removal company it makes him about $70,000 poorer. Real money, not mortgage money. I am in favour of taxes in general and don't even mind death duties, but this one really annoys me. We are not making a profit, just changing roof. Grrrrrrrrrr!
The stamp duty goes up in jumps according to the value of your house. There is none at the very low end. But we have only our pensions to live on and it is just a roof.
If I were a property speculator I could understand it, or if it were a second home.
We could have bought a cheaper home and used the difference to pay the duty, but, unfortunately, that is the price of houses in the area we liked. They are all about the same price and same size. We stretched for the one we liked after two fell through, but DH had his face set a bit tight when he went out of the door yesterday.
We do have 'council tax' that you pay monthly to the local council for services, like trash collection, roads, street lighting, some education, social care etc. That is dependant on the value of your house.

So, DH is feeling 'cleaned out' , so I hope it's worth it. I was very surprised when he said he wasn't against moving down there. I thought I would never get him out of the countryside. I know he loves the sea, but a built up environment wouldn't be his first choice. We both feel we can't go on living so far from facilities for daily life, plus we need to 'do' more, rather than just staying in all the time. We both love to be at home, but it would be nice to go out to the theatre or a music venue. We feel a change is good for us as we get older. Plus, to be honest, we have lived here eight years and found no one we want to be friends with. My two yoga friends don't live nearby. DH's cricket friend drives down from south London. People are pleasant, but very insular and different from us politically and culturally. Not a bad thing, but not BF material. Hove will be more our 'tribe'.

Love Heather UK xxxxxxx

Warning - TMI and TL;DR for most people, especially if you're not interested in taxes:

Heather - Property tax is once a year, although many tax assessment offices will now take payments spread out over a certain amount of time. It pays for the same things as your council taxes, but adds one more layer, as it includes city and county services, such as roads and bridge maintenance, county sheriffs and deputies, city police, city hospitals, firefighters, public schools, etc.

"Stamp duty" sounds odd to American ears, almost like a penalty for buying a nice house. Here, you would pay capital gains tax if you sold your OWN house during the transaction for much, much more than its original purchase price. There are conditions, such as owning it and living in it for at least two years, but effectively, at least at our income level, you wouldn't pay capital gains tax unless you sold your house for $250,000 more than your basis, which is your total investment in the house, including purchase price and expenditures to make it usable or expand it. That goes up to $500,000 if you're married.

The amounts paid to the government during the purchase of a new house in the US usually amount only to the charge for officially recording the deed transfer, which is a small, standard fee, and possibly a pro-rated part of the property tax on the property you're buying, but the amount of that you pay is part of the agreement you make with the buyer. If it's being sold to recover taxes, the city/county effectively owns it, and part of the purchase price will be the taxes owed, no matter how large or small the amount.

You can also file a protest against the assessor's valuation of the property by gathering information on the valuation of similar properties. I got our property tax on the warehouse cut nearly in half, as it hadn't been re-assessed in more than ten years, and comparable properties were paying MUCH less than we were in property taxes. Most counties now have websites where all the information is available publically on who owns the property, including history of taxes paid, unpaid, market value, etc.

Please note, too, that most mortgage companies here add a certain amount to your mortgage payment monthly, which they hold in escrow over the year, and then THEY pay your property tax and home insurance out of that escrow amount each year. We've been able to avoid escrow on many previous purchases, as I'd prefer that the money be gaining interest for us, rather than the mortgage company. We gave into it here, as it levels out that amount over the year, so we don't end up with those two lump sum amounts hitting us all at once.

More than you wanted to know? I find it fascinating, the differences between the two countries.

Lisa in AR.

Rye - We will miss you. Drop us a line to let us know you are OK when you can. Hugs!!

Okie

Barbie all those bulbs, glad you're feeling better. "...malfunction proportional to the desperation of the operator..." so very very true!
pip Gilroy! Have an artichoke or two for me
Rye thoughts and prayers are with you, please don't go far and come back soon.
Lisa Aaahhh!
Heather in the US we have an advertisement whose punch line is priceless. In your situation it would go something like "Decision to move=months of frustration and $70,000. Being part of the grands' every day life=Priceless!
Evie did you feel those earthquakes? Hope no damage/harm.

Yesterday had to do 45 mins of Leslie Sansome to meet minimum step goal.
TODAY I will get down on the floor and exercise those knees, roast that chicken, tend the garden, drop off cider at a friends, pay the outrageous price Freddy asks for a box of Borax and do a load of laundry before line dancing. UP and at 'em!

Lighter, lovelies!
Barbara, the Southern Oregon Coastie AHMOD.
60 g protein 17/22, rx/vits 13.5/22, meditate 10/22, walk one more step 19/22, knee exercises 10/22, core 3/12, walk Tumble 2/12 times, SWSY 0/6, hang up or purge art 0/0, AF 14/22.

So, I purchased a bottle of 14 day herbal cleanse. But then it was a buy one, get one bottle free, so I have a bottle upstairs ( take 2 pills at night), and a bottle in the kitchen,( take first thing before you eat). Presently waiting for last nights pills to "kick in". I had pizza last night, which I do not eat that often. Tmi? Well that's life.😋

Today, going to drink more water, eat really simply. Well try to eat more simply...
Its cold here on the island! Getting down into the low 40's at night.
💗Rebecca