Cute houses, yet another thread

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Originally Posted by iris lilies

just based on the market value of $179,000, yeah, that tax amount of $3500 annually is a lot. Real estate taxes are high in the tax-me state of Illinois, and I don’t quite understand why. I know that real estate taxation is a local issue but yet it’s high across the state.

For comparison, my Hermann house is worth about $100,000 more and my taxes are lower. They’re just at $2000 a year.

As an aside, when we first bought this Hermann house, before it was renovated, our taxes were $1000 a year. This would’ve been a perfectly fine house for people to live in inexpensively. The family that did live here had a lower middle class sort of income.

We pay for schools and roads and etc. here because things cost less than in California. By the way the Hermann school district graduates and sends to college a whole lot more students than the St. Louis city schools do. City schools have much higher per pupil funding.

success is not about the money, necessarily.

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The math for how they provide services doesn't work. Even assuming the average property tax bill is 50% higher than the $2300ish bill for this house, Alton has a population of 25,600, living in 12,518 households. That would be total property tax of $43.2m. Their school district alone has a $95M budget, according to the district's web site. Where does the other $50m come from? And that's ignoring things like police and fire departments, roads, etc. that also need to be paid for somehow.

Looks cozy for sure. I am always looking for the house "that puts its arms around you". I have been perusing some of these old houses for sale websites like Old House Dreams or Zero Down. There are so many affordable ones - mostly in the midwest but probably out in the middle of nowhere or in dying towns.

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Originally Posted by jp1

The math for how they provide services doesn't work. Even assuming the average property tax bill is 50% higher than the $2300ish bill for this house, Alton has a population of 25,600, living in 12,518 households. That would be total property tax of $43.2m. Their school district alone has a $95M budget, according to the district's web site. Where does the other $50m come from? And that's ignoring things like police and fire departments, roads, etc. that also need to be paid for somehow.

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I don’t know where you’re getting your math assumptions on income, but the budget for the city of Alton alone is $71 million. They are getting more income than what you are estimating. There are other taxes collected by municipalities other than real estate ‘tho that real estate tax revenue forms the bulk of income. Other income streams such as business tax, ?personal property tax?, fees, money from the Feds, etc are collected.

their budget ampunt is the last line of page 1.

https://www.cityofaltonil.gov/view-t...1%2C801%2C124.

And then, I assume a portion of real estate tax not reflected in the $71 million goes to the school system. Plus, the state is probably throwing some money at the Alton school district.

Our real estate tax bill was just issued on Jan 1st and since we're on the road I've just today downloaded a copy of mine so that we can pay it from the road before it becomes due on Feb 8th. Our home is assessed for tax purposes at a value of approximately $400,000 and the annual tax due is $6,488.00, of which the county gets $822, our township gets $1626, the local school district gets $3772, a local vocational school gets $198 and the public library gets $70. Other than the county's portion, all the rest are the results of successful school, police/fire and public library levies approved by voters.

It's interesting to me that they list the Gross Real Estate Tax at $13,141 before applying credits for 'Reduction Factor' of -$5,354, Non Business Credit of -$664, an Owner Occupancy Credit of -$166 and a Homestead Exemption of -$469. While I'm grateful for the credits, it bugs me a little to know that even afterward my monthly R/E Tax charge of $541 is our largest recurring monthly expense.

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Originally Posted by jp1

Are you saying that you think $188/month property tax on this is high?

Because of Prop 13, our tax assessment is 1% of purchase price plus the local additional assessments that were approved by voters. In Marin county that is about $2,000 above our 1% assessment on $727k purchase price. The 1% of purchase price assessment goes up 2% per year. We're just shy of $10k property taxes at this point. How does Alton pay for schools/police/fire/etc if every house has such cheap property tax as this one?

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not to beat a dead horse here, but the property tax listed on this real estate listing is $292 a month, and that’s 3500 a year. I don’t know where you’re seeing $188 a month

I was going by the "monthly cost" section of the listing where it said Property Tax $188. I don't especially care since I'm not planning to move to Alton IL. I've been there numerous times because SO's family loves going to Fast Eddie's Bonaire for the cheap peel and eat shrimp. Those annual trips are enough for me. I don't need to experience the place on the daily.

I suppose they get enough welfare from someone else's taxes paid elsewhere to make the budget work. Good on them if they can work the system to bring in the unearned bucks?

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Originally Posted by jp1

I was going by the "monthly cost" section of the listing where it said Property Tax $188. I don't especially care since I'm not planning to move to Alton IL. I've been there numerous times because SO's family loves going to Fast Eddie's Bonaire for the cheap peel and eat shrimp. Those annual trips are enough for me. I don't need to experience the place on the daily.

I suppose they get enough welfare from someone else's taxes paid elsewhere to make the budget work. Good on them if they can work the system to bring in the unearned bucks?

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for the zillionth time I looked at the tax information for this house on realtor.com, and it listed the figure you use, $188 for a monthly tax bill. I closed that tab and looked it up again, and it displayed the figure I have seen in the past, $292 per month.

Below is a screenshot showing taxes but I can’t prove that it’s coming from that exact listing. realtor.com is often wonky. Anyway, who knows how much the tax bill is but $188 a month isn’t much and I wouldn’t complain about that. I would complain about $292 a month.

We’ve never been to Fast Edie’s. Parts of Alton are very cool: the old Victorian neighborhood, the private streets area is cool.

Attachment 5733

If you go to Fast Eddie’s have you gone down the river road to tiny charming Elsah? Have you seen the Principia college campus up on the hill from Elsah, the one with the 1920s architecture? It is beautiful and so peaceful.

Weird that we're seeing different stuff. This is what I'm seeing. The difference is meaningful. ANd yeah, were both trusting realtor.com ...

Attachment 5734

https://www.realtor.com/realestatean...=srp-list-card


here is another dollhouse in Alton, Illinois right across the river from St. Louis. Alton has some sketchy neighborhoods that’s for sure, but this house does not appear to be in one. It’s on a street of tiny little houses. It listed $95,000 and boy is it cute.

Alton have some great Victorian architecture because it was an important Rivertown back in the day. They have cultural institutions in their town. For entertainment, you can just go across the river to St. Louis.

I would love to find a place like this - size and price - in my area/surrounding area! I could live without the basement, but it's just the size I want!