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by CydeWeys
1136 days ago
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This isn't true in many places for lots of reasons. E.g. in California the owner could easily have grandfathered-in low property tax thanks to Prop 13, that you as a new housing purchaser couldn't benefit from. Or there could be NY-style rent regulation that controls the allowable rental price and doesn't take property tax into consideration at all. Or it could simply be that property taxes go up in a neighborhood (which you'd have to pay if you owned) but that rents do not, for whatever reason; this happens all the time. As a renter, all you care about is what the rent is. If the rent is good, then you're good. Property tax is very much NOT priced into buying a property, and is an ongoing expense to worry about that moves in way that rent does not. |
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Fair point, but are any of those places in states with no income tax? Thise states have to make up for that loss of revenue somewhere.