On multi-units, in my area it takes roughly 2 months of rental income to cover the annual tax bill. The numbers are worse for a SFH. What do the numbers look like in your area?
On multi-units, in my area it takes roughly 2 months of rental income to cover the annual tax bill. The numbers are worse for a SFH. What do the numbers look like in your area?
Are we talking gross rent? If so, a little more than 1 month's rent covers the annual property taxes on our properties.
on a residential property (TH), roughly 1.5 months
Mitch, yes I am talking gross rents. That's pretty good. In my area, it can take more than 3 months of gross rent to cover annual tax bill on a SFH.
Less than 0.5 months. Tax bill around $600, rents around $1200.
Wow, that's pretty good. Is that based on some exemptions or that's the rate for a rental property without any exemption?
PG county MD is expensive when it comes to property taxes. They are still assessing properties for close to double what they are worth- Without rehab. Taxes are close to 4k a year- Rent is 1500 so about 2 1/2 months of taxes.
I'm at about one month's rent. Pretty amazing the variability in the posts. Anywhere from 5% to 20% or more of gross rents. Just another reason to only use the 50% rule as a rough approximation, and to adjust it up or down for your area. In some cases, there is a high tax/mill rate, in others the county just refuses to revalue properties down to where they should be, not wanting to lose revenue.
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About 2.5 months here.
TX RE taxes are pretty high.
In California, we have Proposition 13, unless of course Governor "Moonbeam" gets his way.
I don't pay higher taxes for the rental. I was assuming you were talking about property taxes and not income from the property.
About 2 months rent on average for mine in TX.
Jon K., VentureNet
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half a month to 3/4 a month is the average for my multifamilies in the main county i invest in....in another county it's about a month..single families is about a month to a month and a half, depending on the particular property and area...i complain about taxes, but i see i don't have it as bad as some of you...maybe i should stop whining :)
Condo in Indianapolis = 1.5 months
Duplex in Indianapolis = 1 month
About 1.6 months for my sfr in Phoenix area.
Wow, hate to dig up old threads, but I thought this was quite interesting.
just over 1/2 a month... $738 a year and $1,300 a month in rent between the two units of the duplex.
What can I say... I love Utah... bought a bigger house and my property tax bill went from $11,000 a year in NJ to $2,400 a year in Utah :)
one month rent = 550
one year taxes = 630
Fort Worth Texas
one month rent = 550
one year taxes = 630
Fort Worth Texas
SFH