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Correct.
The object of the game is to reduce the amount you voluntarily give away. Taxes will have to paid.
posted by
SuccessWarrior
on December 5, 2006 at 11:39 AM
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There, I'll agree
Even in areas with high property taxes, when amortized over a given period of time, property taxes end up to be much less than actually paying rent to someone. If you owe money on a mortgage, you're paying the mortgage in addition to the property taxes.
posted by
kidnykid
on December 5, 2006 at 11:28 AM
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Yes, you still have to pay taxes but it's less than the cost of rent
A renter's landlord is paying taxes too and passing that cost on to the renter so you pay taxes either way.
posted by
SuccessWarrior
on December 5, 2006 at 11:00 AM
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I wish I remembered where I read this...
but even after your mortgage loan is paid off, I've heard property taxes likened to rent - you pay your property taxes every few months (the amount of time passing between property tax payments varies by where you live), and if you don't pay them, that eventually gives the appropriate jurisdiction the right to seize your property.
posted by
kidnykid
on December 5, 2006 at 10:22 AM
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