> Property taxes in most of america are a made up number. Except in States that have property tax and no income tax, the appraised value is close to the sale v

> Property taxes in most of america are a made up number. Except in States that have property tax and no income tax, the appraised value is close to the sale value, usually slightly under. So in a 500k example, the appraised value is something like 450k (or more). Then your property tax might be 2% of that appraised value, which results in a $9,000 property tax bill every year, even when you retire. If speculative buying drives up the price over 10 years, it also drives up the appraised value and also your tax bill