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0 pointsdarrenf3y ago0 comments

I'm in the UK. AFAIK we don't have any ongoing property taxes to pay, at least not if I have bought the freehold. Leaseholders may have to pay ground rent, but that's often a peppercorn and anything above that is being legislated into oblivion this year[0].

Regardless, ownership is a useful legal construct the benefits of which seem to outweigh those of being a tenant.

[0] https://landlordknowledge.co.uk/ground-rents-banned-under-ne...

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throwaheyy3y ago

Do you pay council rates? That’s what are called property taxes in the USA.

darrenfOP3y ago

Ah yes, there’s council tax - but tenants pay that too, so it’s not a difference between the scenarios. Also I wouldn’t want or expect to stop contributing to local services just because I don’t have a mortgage!

throwaheyy3y ago

Tenants in the USA do not pay it directly but do so effectively by proxy, because they pay rent to the landlord and the landlord pays property taxes to local government.

Property taxes in the USA go towards local government services like garbage collection and street maintenance, just like council rates. So I believe property tax and council rates are still analogous.

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0 pointsdarrenf3y ago0 comments

Regardless, ownership is a useful legal construct the benefits of which seem to outweigh those of being a tenant.

[0] https://landlordknowledge.co.uk/ground-rents-banned-under-ne...

0 comments

throwaheyy3y ago

Do you pay council rates? That’s what are called property taxes in the USA.

darrenfOP3y ago

throwaheyy3y ago

Tenants in the USA do not pay it directly but do so effectively by proxy, because they pay rent to the landlord and the landlord pays property taxes to local government.

j / k navigate · click thread line to collapse