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Selling due to inability to pay property taxes????

The property tax rate for Southport is 0.180 cents per $100 of value. For Brunswick County, property taxes are 0.305 cents for $100 of value. The total is 0.485 cents per $100 of value.

A house that's valued for tax purposes (thus, not its real value or actual sales price) at $200,000 would thus pay $970 a year in property taxes.

That's $80 a month. If one has a mortgage, usually property taxes are already included in the mortgage and are escrowed.

I am not debating the annexation issue; but I am debating that someone would not be able to afford property taxes and would have to sell property because of them. The math above illustrates that they are not that unaffordable... on the contrary.

If one cannot afford to pay property taxes, then perhaps that person has bought too much house (which is one of the problems that led to this current real estate climate) or that property was not evaluated properly.


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