The fact that you are paying very close to 1% of your NET assessed value is purely a coincidence. The 1% property tax cap is based on GROSS assessed value (not NET assessed value.)
Of all the available deductions, the Homestead and supplemental homestead deductions are the two the matter the most. The homestead deduction allows you to deduct 60% of the assessed value---up to a maximum of $45,000. The supplemental deduction allows you to deduct 35% of the remaining (after the homestead deduction is subtracted) value under $600,000 and 25% of the amount over $600,000. This can be a substantial amount of money.
The mortgage deduction is the balance of your mortgage WITH A MAXIMUM OF $3000. The over 65 deduction is only available if the assessed value is under $182,430 AND your adjusted gross income is under $25,000. The dollar amount of this deduction is relatively small (when compared to the homestead deductions.)
The added tax for a second garage is high, but it is what the legislature specified. The thought was that taxes should be low for necessities and higher for luxuries. Having multiple garages is apparently a luxury while having a single ten car garage is not.
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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