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 - Chores - by Frank Young. The ceaseless passing of time! It is at once our friend and our enemy. It measures our progress and it makes us old. Like most features of our life, few things are all good or all bad, and most such judgments depend on our own perspective or viewpoint. In our particular hobby, we enjoy the nostalgic return to the days of our youth as we recreate many of the scenes that took place on the family farm that served as the stage for the first few acts of the play that is our live
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