Our real estate market is nuts
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NYC has very reasonable property taxes. Quite low actually. They tax incomes (at city level, above and beyond federal and state) and of course they have business taxes of various sorts. So they rely little on property tax.
Westchester has the crazy taxes and it certainly does suppress housing prices.
@jon-nyc said in Our real estate market is nuts:
NYC has very reasonable property taxes. Quite low actually.
I haven't looked in a while, but that's my impression of Chicago as well.
A 3 bedroom condo in the Hancock Building, 1700 square feet, is about $695K.
HOA fees are $1500 monthly (that's pretty steep), but the taxes are $9300 per year, which is less than I pay.
https://www.zillow.com/homedetails/175-E-Delaware-Pl-APT-6605-Chicago-IL-60611/3850275_zpid/
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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I try not to bite in my shoe when thinking that I could live an hour from Carnegie Hall or Chicago Symphony Hall for the same money.
@klaus said in Our real estate market is nuts:
try not to bite in my shoe when thinking that I could live an hour from Carnegie Hall or Chicago Symphony Hall for the same money.
Actually, I'm about 30 minutes, if I take a cab from the train station. 45 minutes if I walk.
(insert "rub it in" gif here)
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@jon-nyc said in Our real estate market is nuts:
NYC has very reasonable property taxes. Quite low actually.
I haven't looked in a while, but that's my impression of Chicago as well.
A 3 bedroom condo in the Hancock Building, 1700 square feet, is about $695K.
HOA fees are $1500 monthly (that's pretty steep), but the taxes are $9300 per year, which is less than I pay.
https://www.zillow.com/homedetails/175-E-Delaware-Pl-APT-6605-Chicago-IL-60611/3850275_zpid/
@george-k said in Our real estate market is nuts:
@jon-nyc said in Our real estate market is nuts:
NYC has very reasonable property taxes. Quite low actually.
I haven't looked in a while, but that's my impression of Chicago as well.
A 3 bedroom condo in the Hancock Building, 1700 square feet, is about $695K.
HOA fees are $1500 monthly (that's pretty steep), but the taxes are $9300 per year, which is less than I pay.
https://www.zillow.com/homedetails/175-E-Delaware-Pl-APT-6605-Chicago-IL-60611/3850275_zpid/
Wait, but that still adds up to $27.300 in housing expenses per year!
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@george-k said in Our real estate market is nuts:
@jon-nyc said in Our real estate market is nuts:
NYC has very reasonable property taxes. Quite low actually.
I haven't looked in a while, but that's my impression of Chicago as well.
A 3 bedroom condo in the Hancock Building, 1700 square feet, is about $695K.
HOA fees are $1500 monthly (that's pretty steep), but the taxes are $9300 per year, which is less than I pay.
https://www.zillow.com/homedetails/175-E-Delaware-Pl-APT-6605-Chicago-IL-60611/3850275_zpid/
Wait, but that still adds up to $27.300 in housing expenses per year!
@klaus said in Our real estate market is nuts:
Wait, but that still adds up to $27.300 in housing expenses per year!
Yes. But, the HOA fees (Homeowner's Association) is the bulk of that. This is the 66th floor of a very trendy building in a very trendy neighborhood.
If you're willing to buy out in the suburbs, HOA fees are typically less than $500 for a comparable unit.
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@jon-nyc said in Our real estate market is nuts:
NYC has very reasonable property taxes. Quite low actually.
I haven't looked in a while, but that's my impression of Chicago as well.
A 3 bedroom condo in the Hancock Building, 1700 square feet, is about $695K.
HOA fees are $1500 monthly (that's pretty steep), but the taxes are $9300 per year, which is less than I pay.
https://www.zillow.com/homedetails/175-E-Delaware-Pl-APT-6605-Chicago-IL-60611/3850275_zpid/
@george-k said in Our real estate market is nuts:
@jon-nyc said in Our real estate market is nuts:
NYC has very reasonable property taxes. Quite low actually.
I haven't looked in a while, but that's my impression of Chicago as well.
A 3 bedroom condo in the Hancock Building, 1700 square feet, is about $695K.
HOA fees are $1500 monthly (that's pretty steep), but the taxes are $9300 per year, which is less than I pay.
https://www.zillow.com/homedetails/175-E-Delaware-Pl-APT-6605-Chicago-IL-60611/3850275_zpid/
My property taxes are less than half that and I live in a township so no local income tax. We have outstanding schools. I wouldn't call your area reasonable.
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@george-k said in Our real estate market is nuts:
@jon-nyc said in Our real estate market is nuts:
NYC has very reasonable property taxes. Quite low actually.
I haven't looked in a while, but that's my impression of Chicago as well.
A 3 bedroom condo in the Hancock Building, 1700 square feet, is about $695K.
HOA fees are $1500 monthly (that's pretty steep), but the taxes are $9300 per year, which is less than I pay.
https://www.zillow.com/homedetails/175-E-Delaware-Pl-APT-6605-Chicago-IL-60611/3850275_zpid/
My property taxes are less than half that and I live in a township so no local income tax. We have outstanding schools. I wouldn't call your area reasonable.
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@mik said in Our real estate market is nuts:
I meant half your taxes in Riverside.
Oh, OK. Yeah, there's no question our taxes are high, but that's because we have no retail base in our town. The bulk of our tax revenue (non residential) comes from a couple of gas stations.
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@Klaus that increase is crazy! Maybe a result of urban flight? Hey...maybe move to Minnesoooooota!
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I'm talking about property price, not price per square meter of living space. Living space here would be in the ballpark range of 5000 Euro per square meter.
@klaus said in Our real estate market is nuts:
I'm talking about property price, not price per square meter of living space. Living space here would be in the ballpark range of 5000 Euro per square meter.
This is why we don't have metric houses.
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For another international comparison, for a modern "Western" style condo in Bangkok, good location, near subway or BTS (elevated subway), with pool, etc. probably about $300-400USD per square foot (assuming I did all the conversions correctly LOL). This would be for a one bedroom, maybe 400 or so square foot.
Of course if you want a very "local" place in the outskirt of the city, price would probably be half that.
For example, you could get a 300 square foot condo for maybe less than USD $50K.
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I guess I should move to Thailand.
Actually, many Germans do. But most of them for reasons that are not exactly noble. I don't want to be confused with one of those...
But I certainly intend to visit some time.
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I guess I should move to Thailand.
Actually, many Germans do. But most of them for reasons that are not exactly noble. I don't want to be confused with one of those...
But I certainly intend to visit some time.
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I guess I should move to Thailand.
Actually, many Germans do. But most of them for reasons that are not exactly noble. I don't want to be confused with one of those...
But I certainly intend to visit some time.
@klaus said in Our real estate market is nuts:
I guess I should move to Thailand.
Actually, many Germans do. But most of them for reasons that are not exactly noble.
What, to evade German taxes and vote illegally in Thai elections?
(See how I inject two American Conservative obsessions into this thing?
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I guess I should move to Thailand.
Actually, many Germans do. But most of them for reasons that are not exactly noble. I don't want to be confused with one of those...
But I certainly intend to visit some time.
@klaus said in Our real estate market is nuts:
Actually, many Germans do. But most of them for reasons that are not exactly noble. I don't want to be confused with one of those...
Yes, I have seen some of them (not only Germans, but other Westerners). Some of them are quite sad. They move to Thailand because they can live cheaper, but after a while, they are frustrated with Thailand, but do not have enough money to return to Germany (or another country), and spend their time drinking beer and complaining about how bad life is for them.
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@klaus said in Our real estate market is nuts:
Actually, many Germans do. But most of them for reasons that are not exactly noble. I don't want to be confused with one of those...
Yes, I have seen some of them (not only Germans, but other Westerners). Some of them are quite sad. They move to Thailand because they can live cheaper, but after a while, they are frustrated with Thailand, but do not have enough money to return to Germany (or another country), and spend their time drinking beer and complaining about how bad life is for them.
@taiwan_girl said in Our real estate market is nuts:
spend their time drinking beer and complaining about how bad life is for them.
No need to go to Thailand for that. You can do it right here.
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@klaus said in Our real estate market is nuts:
Actually, many Germans do. But most of them for reasons that are not exactly noble. I don't want to be confused with one of those...
Yes, I have seen some of them (not only Germans, but other Westerners). Some of them are quite sad. They move to Thailand because they can live cheaper, but after a while, they are frustrated with Thailand, but do not have enough money to return to Germany (or another country), and spend their time drinking beer and complaining about how bad life is for them.
@taiwan_girl said in Our real estate market is nuts:
@klaus said in Our real estate market is nuts:
Actually, many Germans do. But most of them for reasons that are not exactly noble. I don't want to be confused with one of those...
Yes, I have seen some of them (not only Germans, but other Westerners). Some of them are quite sad. They move to Thailand because they can live cheaper, but after a while, they are frustrated with Thailand, but do not have enough money to return to Germany (or another country), and spend their time drinking beer and complaining about how bad life is for them.
The main reason that is usually quoted here is that they move there to have cheap sex and/or "buy" a wife.
