i was wondering if you live in a condo or a townhouse do you still have to pay property taxes lik e you do on a home. if yes are they the same rate or smaller?
2007-10-04 02:35:03 · 6 answers · asked by Luke N 3 in Business & Finance ➔ Renting & Real Estate
Yes, unfortunately. If you own property, they assess the value of it and you pay. And the sad truth is that you could own a small piece of property in NYC and pay more than a person who owns acres in Alabama. It's all about location and the property tax rate.
However, if you are merely renting the condo or townhouse, then your landlord is responsible to pay the taxes.
2007-10-04 02:44:39 · answer #1 · answered by productjunkie 3 · 0⤊ 0⤋
Yes, the rates vary with the area and property value.
Normally you pay city and county taxes.
If you are outside the city limits, only county taxes.
When shopping for a townhouse or condo, also look at the homeowner dues. Some can be outrageous, and some can escalate outrageously.
2007-10-04 02:38:24 · answer #2 · answered by Feeling Mutual 7 · 1⤊ 0⤋
Yes you pay property taxes. Your taxes could be less or more.. it depends on how expensive a property you buy. You also need to ask what the condo fee is so you can see what your total payment each month will be. Townhomes will also have some kind of HOA monthly fee. http://www.choicerealestate.net/
2007-10-04 04:20:52 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes....same tax rate based on the assessed value of the property.
2007-10-04 02:38:13 · answer #4 · answered by Wayne Z 7 · 0⤊ 0⤋
yes, it's still the same as owning any other house.
Don't forget the HOA fees too...
2007-10-04 02:38:46 · answer #5 · answered by Roland'sMommy 6 · 0⤊ 0⤋
Apt. but moving in to a house in the Suburbs!
2016-05-20 22:16:25 · answer #6 · answered by Anonymous · 0⤊ 0⤋