property taxes expense % of rental income
Hi, I'm new to the site, and just starting out with renting a property I inherited. I'm just wondering if there is a general rule of thumb as it relates to what portion of your rental income should offset the property taxes? For example, if the property taxes are $2K/yr, should the rental income on the property be $10K/yr, making the property taxes a 20% of rental income expense? Is 20% too high or too low? Any advice is greatly appreciated.
Thank you.