Interesting. It is sad that my instant reaction is 'wow, that is cheap!' because compared to the south of the UK as a whole those are very cheap prices. Compared to London those are really, really, really cheap.
But in my area, property taxes are $14,000 out in the Island, and many coworkers consider $550,000 fairly cheap.
Surely that isn't taxes of $550,000 per year???? Even $14,000 per year is an awful lot. Most property taxes in this country are a few hundred to a few thousand per year, and then a variable percentage on the purchase price when the property is sold (but crazily the stamp duty is paid by the purchaser, not the vendor - I have no idea why). So it looks as if our purchasing costs are much higher but then annual taxes are lower.
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branchandroot
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Date: 2017-06-25 05:09 pm (UTC)Surely that isn't taxes of $550,000 per year???? Even $14,000 per year is an awful lot. Most property taxes in this country are a few hundred to a few thousand per year, and then a variable percentage on the purchase price when the property is sold (but crazily the stamp duty is paid by the purchaser, not the vendor - I have no idea why). So it looks as if our purchasing costs are much higher but then annual taxes are lower.