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That depends on where you live. Where I live (Seattle) my property taxes are <1% of property value, but rents are quite high. My property tax bill is probably a
by jandrewrogers 7y ago
That depends on where you live. Where I live (Seattle) my property taxes are <1% of property value, but rents are quite high. My property tax bill is probably around 15% of the market clearing rent for my place. Rent would still be damn high.
- naveen99 7y ago1% is still very high, compared to 0 in india, U.K., many other places. Rent in india is like 1-2% of property value / year. In texas with 2.5% property tax, rent is closer to 8%. Even Seattle is probably close to 3% / year. Rent is basically property tax + interest rate + maintenance - inflation in property values.