Know Your Property Taxes Before You Invest
Since I own investment property in Indiana, it makes sense to follow whats happening there.
The Indy Star just had an article on ballooning property taxes.
Basically the assessors office is changing the way property is being assessed which is likely raise the average tax bill by 15%. That sucks! Taxes on my property are already at 2.2%. I’m not keen on paying any more than that.
Yet another reason I prefer SLC over other regions in the country. Its tax rate is only 0.7%, a lot lower than Texas’s 2.8% and definitely a lot lower than New York and New Jersey where its over 5%.
To the unsuspecting Californian who assumes that its 1.2% all over the country, that can turn into a nasty shock. As always, do you homework before you invest anywhere.
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September 13th, 2006 at 1:36 pm
Every town here in NY has a different rate and assessed value may bear no connection at all to market value.