PGT Posted January 6, 2006 Share Posted January 6, 2006 and i heard that the tax deduction on house payments may be going the way of the dodo... anyone else remmeber hearing that? it's on the interest paid, not the payment and no, I haven't heard a word. I can get you in touch with a reputable agent who can walk you through things to see if now is a good time. She did for me and my brother in 2003 - both first time buyers. There are actually some good programs for first time buyers through Fannie Mae...as little as $500/down and a fair rate. Link to comment Share on other sites More sharing options...
rallispec Posted January 6, 2006 Share Posted January 6, 2006 thansk Dan, I'd appreciate that. ANyhow,...... which way to on-topic? Link to comment Share on other sites More sharing options...
PGT Posted January 6, 2006 Share Posted January 6, 2006 geeze....someone should move this to 'general char' or something. Link to comment Share on other sites More sharing options...
rallispec Posted January 6, 2006 Share Posted January 6, 2006 Yeah, I can sense that this thread is giving you the shakes all the way from manassas... i bet you're regretting that you lost your super powers by now, aren't you? off topic here we come! Link to comment Share on other sites More sharing options...
RuskiTrombone Posted January 6, 2006 Author Share Posted January 6, 2006 Anyone else get their Legacy property taxes? I want to know how much they are for a full year. Mine were prorated as I purchased the Legacy a few months ago. Link to comment Share on other sites More sharing options...
TYNY Posted January 6, 2006 Share Posted January 6, 2006 ouch, taxes every year on your car. not in NY, just the registration which recently went up too but tax only when you buy the car. i agree w/ jedi, move. Link to comment Share on other sites More sharing options...
RuskiTrombone Posted January 6, 2006 Author Share Posted January 6, 2006 The tax shouldn't be as high as sales tax but who knows. The income I can make in NoVa far exceeds the savings from taxes elsewhere. I can however look into living in MD but traffic driving into NoVa for work could be horrible. Link to comment Share on other sites More sharing options...
rallispec Posted January 6, 2006 Share Posted January 6, 2006 Anyone else get their Legacy property taxes? I want to know how much they are for a full year. Mine were prorated as I purchased the Legacy a few months ago. I think i paid in the area of $300 back in october with Prince william taxes were due. (I bought in January - so that was prorated as well) Link to comment Share on other sites More sharing options...
jlce88 Posted January 6, 2006 Share Posted January 6, 2006 I think military gets some kind of exemption. I read through something of sort in the booklet when searching where they got the estimate for $27K. PGT how were you charged 1K on a 98 accord?!? Was there some sort of mistake? Many local residents own properties in other states like Florida and you see alot of cars around here with Florida plates. My rents recently purchased a condo on the ocean so I figure they will be registering their cars there by next year. You get an exemption, until you try to tag it in another state and they find out you didn't pay taxes on it originally. If you keep the car, in the long run they will get you. Another thing is that if I paid 6 % in Georgia, and move to Kentucky, I will have to pay the difference between Georgia and KY on taxes. yeah it may only be 2% or so, but they sure don't refund the difference if the tax is less than in the state that you bought it. Plus you don't get credit for any local tax, such as a city or county tax added in when you buy the car. The new state only credits you with actual state taxes. I've found that it's less expensive in the long run just to pay the taxes and deal with it. If you're speaking of hazardous duty pay, or combat zone exemption, which is totally different and is capped at a certain amout, as in the first $25,000 of yearly income (not the actual amount)is not taxable Moving to state and federal taxes...another thing that irritates me is when you get your pay, if the federal government takes it's portion, then you have less money, then social security gets their bit and you have less money, then state gets theirs. Okay, figuring it that way, for instance I get paid 5000.00 a month (I wish)...the feds take 400, that should leave 4600 for SS to figure their tax on, but NO, they tax on the 5000 which I technically no longer have, okay so they take 250, which SHOULD leave me with 4350 for the state to figure tax, but NO, they too tax at 5000 which I don't have anymore technically. Someone has to tax first, that money's gone, then someone second and that money's gone, then third. Someone please explain how this works??? If I'd tried math like that I would've failed math. I've sat down with my pay, checked the rates I get taxed at, and sure enough, the only way it works out is to keep going back to my original pay amount. I've asked the question of many, tax preparation experts (oh yeah), the government itself, and no one can explain that kind of math to me. Link to comment Share on other sites More sharing options...
IwannaSportSedan Posted January 6, 2006 Share Posted January 6, 2006 Welcome to S-U Soak-U, Screw-u, whatever you want to call it. Here is today's lesson: It is interesting how they spend your money, too. Base line budgeting. Step1: Take your entire budget from last year (base), and increase every line uniformly by a set percentage. Always a few percent more than the economy actually grows. As much as possible. *Key sub-point: It doesn't matter if the program didn't spend all of it's money last year. Increase it anyway. If it was over-budget, see step 2* Step 2: Then, go through and add a few more percent to any pet project line item that you think will make you freinds, or get you some votes. Don't forget the line item for representative's pay and benefits... Step 3: Scream like hell if anyone tries to deny this extended increase, and vilify them as "Cutting this oh-so-valueable program. What a ____" (insert insensitive anti-children, racist, bigoted, homophobic, anti-social, feed-the-rich, derogatory term applies to that pet project...) Step 4:???? (I am sure there is something here WE don't know about...) Step 5: Profit. Step 6: Promote your big-heartedness and willingness to spend money to your constituents and lobbyists, to gain even more favor and contributions. (Summary: more profit) It is no wonder the government at all levels has to come up with "new math" to soak you more and more every year... They have programs to run, and people's lives to manage. (I'm not cynical or sarcastic or nuthin... But I am correct. ) [/lesson] Screw-U, Government Finance 201: Class dismissed. Link to comment Share on other sites More sharing options...
GardenWeasel Posted January 7, 2006 Share Posted January 7, 2006 Anyone else get their Legacy property taxes? I want to know how much they are for a full year. Mine were prorated as I purchased the Legacy a few months ago. The amount you pay is based on the mill rate set by the town you live in and a percentage of the actual value (here it is usually 80%). Veterans tax exemptions vary a lot. Some cities do not have one at all, and some are really high. I get a $3000 exemption, which means if I owned property worth $27,000 I would only pay taxes on $24,000. I always apply my exemption to my house, so it does not show up on the form below. Here's what I paid last time: http://www.home.earthlink.net/~thegardenweasel/taxes.jpg Link to comment Share on other sites More sharing options...
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