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Berks County Luxury Market, Wyomissing Homes

By
Real Estate Agent with Stout Associates Realtors

Wyomissing PA

Luxury Homes,,, why would anybody pay 40k a year in taxes.. a client once asked me,, what do you tell her. PA and Specially Berks County has a big issue with property taxes. Taxes in Berks County seem to get out of hand in most instances, when it comes large properties it gets to the point of ridicule, Why would anybody pay 40k a year in taxes,, because they can, because having the home on the hill shows status, I told her, It is like buying a Rolex, you don't need one but you buy it to show ether that you have money, you made it, or you are in a huge dept...

Reading Pa the center of our county has a 5% transfer tax..., Helped a client recently buy a secluded home in Reading he had to pay 25K just in transfer tax to buy this house,,, how do you tell people that these homes are worth the money they spend. Wanted some feedback from real estate professionals about the taxes in your areas and what your counties have done to reduced taxes, I can pass your answers to our Senator,, see what he thinks...

Our tax rate is average about 3500/100k assessment..

I think is big, some townships have got to 4500/100k assessment... this can be good for anybody except for the county and the schools... but can you imagine what John and Jane, the 75 years old neighbors are going through....

 

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Comments (4)

Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
It must be difficult selling homes with 5% transfer tax and high RE taxes in this market.
Mar 18, 2008 11:27 PM
Leo Vinteler
Stout Associates Realtors - Wyomissing, PA
Exqusite Service
Thanx for your comment, yes is a big issue with our clients,, what are the rates in Bucks Co
Mar 19, 2008 12:21 AM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS

Leo - that transfer tax must be a difficult sell - but then, if that's where they want to live ....

In Florida we have a huge tax difference between owners of principal residences and owners of second or multiple homes and investors/speculators who don't have the benefit of Save-Our-Homes limits on increased assessments.  

Mar 19, 2008 11:55 AM
Leo Vinteler
Stout Associates Realtors - Wyomissing, PA
Exqusite Service

looks like we will be talking allot...

 

LOL

thanx for your comments... and keep them coming..

Mar 19, 2008 01:17 PM