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Old 09-10-2008, 10:30 PM
 
Location: In my own little corner... sittin' in Jax FL
589 posts, read 1,075,784 times
Reputation: 324

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I mean, in a way we do. From what I've seen, the complex or building is assessed these taxes and it is built into the rent. Hence one could say that - Renters pay Property & School taxes.

Am I right in this thinking?

Here is an example of half of a large complex here. Scroll to the bottom to see the taxes assessed on the property.
Property Appraiser - Property Details
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Old 09-11-2008, 01:05 AM
 
14,199 posts, read 26,341,715 times
Reputation: 8357
You're right to a point... but the taxes are still due whether or not the building is rented or vacant.
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Old 09-11-2008, 07:27 AM
 
Location: In my own little corner... sittin' in Jax FL
589 posts, read 1,075,784 times
Reputation: 324
Quote:
Originally Posted by Ultrarunner View Post
You're right to a point... but the taxes are still due whether or not the building is rented or vacant.
Well that's a given. And the property owner would, of course, ultimately be responsible for the actual full payment of the taxes. However, it is one of the many things that is built into rent calculations.

Am I missing something else?
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Old 09-11-2008, 10:56 AM
 
14,199 posts, read 26,341,715 times
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Associated costs such as taxes, business licenses, utilities and such do effect rents to a degree.

I've found the cost of these items do not have a direct correlation to rents charged. In most areas, rents charged are based on the strength or weakness of the rental market overall and not on the cost of doing business. Rent Control areas are different on course.

Case in point... there are 1000's of homes for sale right now for much less than the cost of construction or what the previous owner paid. The value of these home is determined solely by the marked.

There are also high end Condos in the city that are now rentals at rates that don't even come close to covering the unit's cost. In many cases, owners with the means have decided to wait out the market and rent the units at a loss in the interim and sell them when it recovers.

With Rentals, Supply will increase if investors can make an adequate return on their investments. The supply will decrease or remain flat if investors can't and their dollars will go elsewhere.

In the broad sense, the customer is always paying the cost of overhead and profit.

Last edited by Ultrarunner; 09-20-2008 at 11:34 PM.. Reason: typo
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Old 09-14-2008, 07:24 PM
 
Location: SW NH
105 posts, read 222,224 times
Reputation: 93
In VT residential renters within a certain income level & residency requirements can request a Renter's Rebate when they file their tax return. The landlord is required to fill out a VT Landlord's Certificate form with all the rental information and utility cost calculations if utilities are included in the rent and give it to every tenant if the landlord has more than 5 rental units.
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Old 09-18-2008, 02:02 PM
 
Location: San Jose, CA
6,868 posts, read 16,981,417 times
Reputation: 2581
California has a renter's credit too, but you have to be certifiably poor to qualify for it. The limits are very low. Fortunately, I eked in $2K under their ceiling this year..
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Old 09-18-2008, 02:51 PM
 
Location: mass
2,905 posts, read 4,602,834 times
Reputation: 4897
Quote:
Originally Posted by Ultrarunner View Post
Associated costs such as taxes, business licenses, utilities and such do have effect rents to a degree.

I've found the cost of these items do not have a direct correlation to rents charged. In most areas, rents charged are based on the strength or weakness of the rental market overall and not on the cost of doing business. Rent Control areas are different on course.

Case in point... there are 1000's of homes for sale right now for much less than the cost of construction or what the previous owner paid. The value of these home is determined solely by the marked.

There are also high end Condos in the city that are now rentals at rates that don't even come close to covering the unit's cost. In many cases, owners with the means have decided to wait out the market and rent the units at a loss in the interim and sell them when it recovers.

With Rentals, Supply will increase if investors can make an adequate return on their investments. The supply will decrease or remain flat if investors can't and their dollars will go elsewhere.

In the broad sense, the customer is always paying the cost of overhead and profit.
I like how you explained that.
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Old 09-18-2008, 06:41 PM
 
1,492 posts, read 4,624,823 times
Reputation: 1284
Quote:
Originally Posted by Sum1Else View Post
I mean, in a way we do. From what I've seen, the complex or building is assessed these taxes and it is built into the rent. Hence one could say that - Renters pay Property & School taxes.

Am I right in this thinking?

Here is an example of half of a large complex here. Scroll to the bottom to see the taxes assessed on the property.
Property Appraiser - Property Details
You are correct in that renters do pay taxes. One way or another, everyone pays taxes.
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Old 09-20-2008, 04:47 PM
 
Location: Cosmic Consciousness
3,874 posts, read 11,552,811 times
Reputation: 2458
It's true that renters pay enough rent to make it possible for the owner to pay whatever local taxes are assessed on the property. But only the actual payer of the taxes can deduct them, to the extent legal, from income tax returns.

Since a renter does not pay such taxes directly, a renter does not qualify for such a tax deduction.
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Old 09-23-2008, 05:16 AM
 
Location: Bradenton, Florida
27,237 posts, read 27,151,544 times
Reputation: 10607
You'd be amazed at how many landlords LOSE money on their rentals...
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