States And Countries With No Property Tax
States And Countries With No Property Tax[edit]
What countries have no property tax? And what states within federations have no property tax? Zachorious 00:42, 2 July 2006 (UTC) 2013..... Ok,lets review the full country list....00000.00...no property tax!.... Seychelles..... Malta..... Hungary.... Fiji Islands.... Turks and Caicos.... Bahamas...no property tax for Bahamian citizens.... residents and foreigners pay 1% of RE assessed value French Polynesia...Tahiti....very low,or none for corp. holding of RE. St Barts. Dominican Republic very low. Cayman Islands---very low.— Preceding unsigned
Low-tax towns don't have to be dull. Doral, Fla., is home to the Doral Golf Resort & Spa, which hosts a PGA tournament every year. And Henderson, Nev., Las Vegas' less glittery cousin, is only a short drive from the Strip, Hoover Dam and Lake Mead. Businesses often flock to tax-friendly cities. And thriving local economies are sure to help retirees find second careers and start small businesses. The business-friendly tax structure of Spokane, Wash., is key to attracting prime technology jobs to the area. After work, retirees can stroll along the Spokane River, which runs through the center of town, or hike in the nearby mountains.
Home affordability calculator
Some cities, like Cheyenne, Wyo., try to slash their budgets rather than increase taxes. In October, Cheyenne Mayor Jack Spiker announced a hiring freeze on nonessential personnel, a reduction of out-of-town travel and a review of equipment expenditures. "Just like taxpayers, the city needs to tighten its financial belt during these times of economic uncertainty," he says. By leaving vacant positions open until the end of the year, the city estimates it will save $3,160 a month per entry-level employee and $5,050 a month for each vacant midlevel position.
Perhaps the most tax-friendly state for retirees is Alaska. The largest state in the union is the only one without any kind of income or sales tax. The city of Juneau levies a 5% sales tax, but people 65 and older who have lived in the city for at least 30 days and plan to remain indefinitely in the state can get a Senior Sales Tax Exemption Card for a $20 application fee. Those over 65 may also be eligible for a senior-citizen property tax exemption on the first $150,000 of assessed value. All Alaska residents with at least one year in the state also receive annual Alaska Permanent Fund dividends. The payout was an unusually high $3,269 in 2008, but even more typical dividends have been nothing to scoff at, ranging from $827 to $1,964 over the past two decades. This dividend may be taxed as income on federal tax returns.
Here are 10 great tax havens for retirees:
- Billings, Mont.
- Cheyenne, Wyo.
- Doral, Fla.
- Henderson, Nev.
- Juneau, Alaska
- Manchester, N.H.
- Nashville, Tenn.
- Sioux Falls, S.D.
- Spokane, Wash.
- Stafford, Texas
- It took me no more than 2 min to look this up. Here's a property for sale in Stafford, and the tax rates from 2010.Originally Posted by VondrakeSince this thread is on the first page of the google search "cities with no property taxes" I thought I'd correct this misinformation.
I was curious of this myself, and I figured I'd spend about 10 minutes researching online about it and there actually is a place with no property taxes.
Stafford, Texas one such place with no property taxes, and it even says so in their official city website. Stafford is located in the Greater Houston metropolitan area, and does not have a municipal property tax as of 1995 and the sales tax is 0.5% less than all of the surrounding cities. Not only do they have all the services Zarathu mentioned they wouldn't have, but they also just built a new fire house and police station. The city has actually been one of the fastest growing cities despite the recession due to its fiscal policy as well as its proximity to Houston.
So many of you were so adamant at how impossible a city like this could exist in the U.S. and spent your time shutting the original poster down instead of actually finding an answer... It took me no more than 10 minutes to look this up, and I'm certainly not an expert in the field. I'm sure that, with a little more digging, one could probably find other places that fit the bill.
House: 3327 Country Club Blvd, Stafford, TX 77477 - HAR.com
Tax Info with Breakdown: http://www.har.com/HomeValue/dispTax.cfm?MLNUM= 33993684
The CITY doesn't have any property taxes. Citizens must still pay for county property taxes, among others. This thread is about zero property taxes of all types.
From the City of Stafford's website: http://www.cityofstafford.com/home/ welcome.htm Quote:When the City eliminated its property tax in 1995, for residents and businesses alike, The Wall Street Journal described Stafford as “a Shangri-La for property owners”. Since that time, the City has seen its cash fund balances increase more than tenfold.
The City operates on revenue received from sales taxes, franchise taxes and user fees that are in line with or lower than those in neighboring communities. The Freeport tax exemption, initiated by the City and offered by the school and utility district as well, complements the City’s zero property tax rate and has attracted many diverse companies to the City.
Read more: http://www.city-data.com/forum/real-estate/1184359- places-no-property-tax-house- value-5.html#ixzz2yrzza95y - Using this methodology, the Tax Foundation found that people in Louisiana paid the least in property taxes. The full list of the top ten best states for property taxes along with the percentage of home
Virtual office service in one of the low tax countries in Europe - Bulgaria, Sofia
http://sofiaoffices.com/en/
http://sofiaoffices.com/en/
The IRS isn't the only one who wants a piece of your paycheck - 41 states have a broad-based individual income tax. Only seven states lack an income tax altogether. They are:
- Alaska
- Florida
- Nevada
- South Dakota
- Texas
- Washington
Let’s say someone in State 1 is paying $2,000 a year in property taxes on a home worth $1 million and someone else in State 2 is paying $2,000 a year on a condo worth $150,000. The best way to compare those two states would be to figure the property taxes as a percentage of home value. The person in State 1 is paying only 0.2% of their home value in property taxes, while the person in State 2 is paying 1.33% of their home value in property taxes. When you look at it that way, it’s clear that the person in State 1 is getting the best deal, even though they are both paying the same dollar amount per year.
value paid in property taxes is:
- Louisiana - 0.18%
- Hawaii - 0.26%
- Alabama - 0.33%
- Delaware - 0.43%
- West Virginia - 0.49%
- South Carolina - 0.50%
- Arkansas - 0.52%
- Mississippi - 0.52%
- New Mexico - 0.55%
- Wyoming - 0.58%
1. Alaska. Alaska doesn't have a state income tax, state sales tax or a state inheritance tax. As tax burdens go, it's the best state to live in.
It hasn't always been that way. In 1978, Alaska was ranked 49th, making it one of the most tax-heavy states in the country. Residents can thank federal funds and big oil for the dramatic reversal.Three years ago, federal funding accounted for almost one-fifth of Alaska's revenue. Per capita, Alaska receives more federal funding than any other state in the country, an honor held since 1999. That means much of Alaska's infrastructure is paid for by federal funds, not state funds. If you don't have much in the way of expenses, you don't need much in the way of additional revenue. As a result, the tax burden stays pretty low.
But wait! The Last Frontier's tax perks get even better: The completion of the federally-funded Trans-Alaska pipeline and the establishment of Alaska as an energy center for gas and oil has proven to be a boon for residents. After the pipeline was completed, the state created a program called the Alaska Permanent Fund, that invests and distributes royalties from oil companies doing business in Alaska to residents. In 2008, the check was a record $3,269 per eligible resident. Eligible residents are those (including children) who have lived in Alaska for a full calendar year.
2. Nevada. Nevada doesn't impose a personal (or corporate) income tax. The state's estate tax is based on the federal estate tax (like many states, so there's nothing payable for this year), property taxes are reasonable, and sales taxes are also low. So how does this state manage to meet its expenses? Nevada's business-tax friendly climate continues to attract business (and thus, revenue) to the state. On top of that, it has the added advantage of off-loading some of its tax burden onto tourists through sales and entertainment-related taxes. Apparently, it really is true that what happens in Vegas, stays in Vegas -- especially when it comes to dollars (the Strip in Vegas has been tagged as one of the top tourist destinations in the U.S.).
3. Wyoming. Like Nevada, Wyoming doesn't impose any personal income taxes. State sales taxes ring in at well below the national average, saving taxpayers a cut at the cash register. The Cowboy State is probably best known for its beautiful scenery. Surprisingly, the reasonably-priced real estate is only taxed at a fraction of the actual value -- even better, residents are legally protected from counties and municipalities increasing property tax rates. The state also allows for considerable relief from property taxes in many circumstances. There is no separate inheritance tax and, as in Nevada, any estate tax is based on the federal estate tax.
Despite low taxes, the state doesn't appear to skimp on services: Wyoming has the distinction of being the first to have a county public library system (the Laramie County Public Library System, organized in August 1886). It may help that there are few taxpayers who require services; at last count, the entire state population was 532,668 -- less than the population of Boston, Denver or Seattle.
4. Florida. Sunshine and low tax rates have helped Florida become one of the fastest-growing states in the country. Florida imposes no personal income tax and no inheritance tax. Property taxes are collected at the state and local levels with rates per person landing it near the middle of all states when it comes to overall property tax paid out. As the state tries to keep taxes low for residents in a tight economy, it is exploring alternative ways of raking in revenue -- such as aproposed gambling deal with the Seminole tribe, which is expected to provide the state with $412 million. Florida is also grabbing at federal stimulus dollars(which they originally proposed to reject) to keep the budget afloat -- subsidies like the proposed $880 million Medicaid grant have helped Florida lawmakers avoid expensive tax hikes.
5. New Hampshire. The Granite State is known for its fierce independent streak, and, when it comes to taxes, it's no different. New Hampshire's personal income tax system is simple and inexpensive: It's a flat tax with no individual brackets. Income tax applies only to unearned income like dividends and interest. That makes the average income tax paid in New Hampshire an astonishing $89 per person. New Hampshire also imposes no sales tax on its residents. It makes up the difference in its budget by collecting a relatively high level of state and local property taxes. Despite coming in third with respect to property taxes paid nationally, the overall burden still remains low.
CANADA
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