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You don't know high property taxes until you live in Texas: 2%/year. Your $2m ATX pad will set you back $40k in property taxes.
by 1letterunixname 3y ago
You don't know high property taxes until you live in Texas: 2%/year. Your $2m ATX pad will set you back $40k in property taxes.
- steveBK123 3y agoNYC property taxes are extremely convoluted, but a $2M condo would probably be about $30k/year in property tax, with like $10k variance. However, a $2M apartment is only going to be like a 2 bedroom, so a Texas $2M home owner might be in the market for more of a $3M-4M apartment in NYC, even accounting for smaller square footage, etc. With the proportional increase in taxes..
- 1letterunixname 3y ago$5M+ condos in ATX exist in the Jenga tower with 50+ floors. Even more ridiculous condos are being built in 70 Rainey that leveled a good fraction of what made it Rainey St. cool. The influx of new people has largely displaced and replaced what made ATX cool. There's still some cool bits of ATX, but I'm not telling anyone. There are homes near Lake Travis that go for up to ~$20M, but the mean average is ~ $1.5m.