Phoenix, AZ · Member since 2009 · 61 posts · 17 votes
Anyone local want to share what their 2b/1ba run on water bills? Also, are there any hidden costs or taxes one should be aware of when investing in Albuquerque?
The reason I ask is in Phoenix the city imposes a %2 per month rental tax that is not really advertised to investors. You also have to register your property with the city as a rental, or you get a nice letter demanding a $2500 fine. All things I'm looking to avoid when buying in a new market.
Real Estate Agent · Phoenix, AZ · Member since 2012 · 640 posts · 457 votes
8y
@Bud Dwyer don't know about water rates in ABQ, but I have a 2/2 condo in Scottsdale and pay about $40/month for water/sewer (trash is through HOA).
Regarding the Phoenix rental tax, my understanding is that you only have to pay AZDOR Privilege Taxes if you have 3 or more rentals (one could be in Phoenix, the others could be in different AZ cities). Other cities have different tax rules and tax rates. Starting last year, all licensing fees and privilege tax are centrally collected through AZDOR.