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I think for houses that are rented out, the property tax is obviously the same as if it was lived in by the homeowner, but because apartment complexes have a much higher population density, I would think they don't generate as much revenue per resident.
I've heard this is one of the reasons that property taxes are so high in Derry.
Property tax on multi- family homes are higher than one family homes. For example, a duplex with 3500 square feet could be charged $14K in property tax. The same size home for a single family is around $11K.
Sadly, it's not just churches and universities that don't pay property taxes.
WalMart doesn't pay them either. Technically, it's a legal loophole. The town issues tax abatements to lure the store. Wal-Mart rents the property to/from another Wal-Mart.... They get the credits, the deductions/write offs and the income.
Surely, it's not just WalMart that the taxpayers are supporting. Hard to imagine though, that 6 members of the Walton family, make as much money as 30% of the nation. And they've never worked a day in their lives.
But w/r/t to renters not paying their fair share of taxes. I'm not sure that's true. Landlords pay taxes and no doubt pass on that expense to their tenants.
I can't see how that renters are paying anywhere close to what homeowners are paying in taxes. Our property tax bill is just under $10K a year. That's about $200 a week in taxes.
I can't see how that renters are paying anywhere close to what homeowners are paying in taxes. Our property tax bill is just under $10K a year. That's about $200 a week in taxes.
I think the other poster just meant that the LL is likely not renting the property for less than he/she pays in property taxes (among other expenses), so the taxes are included in the rent (but not seen by the renter).
I rent out the house I lived in for 9 years (bought another house and didn't want to sell the old one in this market) -- more than $400/month of the rent just goes to property taxes (~$5,000/year on that 1520-square-foot very plain rectangular ranch house). I would bet the tenants have no clue!
I think the other poster just meant that the LL is likely not renting the property for less than he/she pays in property taxes (among other expenses), so the taxes are included in the rent (but not seen by the renter).
I rent out the house I lived in for 9 years (bought another house and didn't want to sell the old one in this market) -- more than $400/month of the rent just goes to property taxes (~$5,000/year on that 1520-square-foot very plain rectangular ranch house). I would bet the tenants have no clue!
I dont understand how people can afford it. I knew Keene was expensive and we only rented. There's just no way an average family making say $20 an hour can afford a $1000 Mortgage , $800 on top of that in prop taxes , insurance, heating etc etc. Monthly. How are these people not homeless in 6 months. Although Keene did have a massive homeless population, even a camp in the woods so I guess I answered my own question on that one.
Yes, property is taxed on its appraised value. Renters absolutely pay taxes through their rent, even if they don't "see" it broken out in their bill.
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