By creating an account, you agree to our terms of service.
Hi everyone.I'd like to know if , in your countries, exists a tax on house and how much is its value for a house of 100 square meters.
A tax exist for residential property. When you buy or sell a house you have to pay tax.. I don't know if we have this yearly tax. Average home like 1 story 2-3 bed and 1 half bath in average condition 100 sq meters mostly would cost $28000. Average home 2 story 3 bed 2 half bath (full bath is not common here) 100-150 sq meters would cost $40000-$50000.
In the US, a "tax on a house" is a "real property tax. " ("Real property" refers to land and buildings). In the US, real property taxes are controlled by state law, and vary from state to state. In California (and I think in all the states), the tax is not dependent on the square footage (or number of square meters). Instead, the tax is based on the value of the real property.
In California, when a person buys real property, real property taxes are set at 1% of the purchase price. In each succeeding year, taxes remain at 1% of the changing value of the real property, but the increase in the assessed value of the property value is limited to a maximum of 2% over the prior year.
To give an example, the median price of a house in California is approximately $350,000. If a person bought a house for that price, his first year's real property taxes would be $3,500. In the second year, the tax could up a maximum of 2%, or $70.
Here in Taiwan , the tax of real property is very unfair to most cilvilains who are not living on selling real property .The tax rate is set on a basis of OFFICIAL PUBLIC PRICE modified by government . The official public price is far lower than it is supposed to be (real price) .Rather , the real value of our real property cannot reflex the real price at all in the market. Various taxes is levyed according to the official public standard . A medium price of a flat in taipei is approximately USD 700,000 , however , the official public price could only costs NT 200,000 . Each year , they are propabaly taxed less than 1/1000 rate of the real price . It is estimated tax will be round about USD 700 . The governement's futile legislation and feeble-mind should account for the speculative bahavior . It is harsh to live in Taipei even Americans who live in Taipei cannot tolerate the astronomical price of real property. As you are taxed far less than you should , the hype of real property is hard to be eliminated here . Some citizens call ourselves "Island of Corruption " . It is pathetic though this is my mother land.