Buying property in USA non-US resident

[Snowwhite2012]

Re: Buying property in USA non US resident

theres a really good forum with plenty of experienced experts in this area
www.proprtyinvesting.com.au which is set up by Steve McKnight....

would be well worth a look for you...

The link doesnt; work.

 

[investorsam]

Re: Buying property in USA non US resident

If anyone is looking at buying property o/s feel free to contact me and i can help with the FX side of things at much better rates than the bank.

Thanks

Hi & thanks - info. on obtaining better rates to USD [from AUD] would be most appreciated .. regards- I.S.

 

[investorsam]

The property tax paid by property owners in the US varies by County to County within each state, so there is no average rate to quote. Best idea is to consider a city/market then research the counties that comprise that city. For example, I live in Charlotte, North Carolina and there are approximately 13 counties that make up the Charlotte metro area and surrounding suburbs. The predominant county is Mecklenburg, where the property tax rate is $1.297 per $100 of property valuation. The county I live in is Union county, where the property tax rate is $0.74 per $100 of property valuation. Interestingly, the school district in Union is considered far more highly than that for Mecklenburg. So, as people move to Charlotte, they are picking Union County over Mecklenburg County for both the quality of the schools and the considerably cheaper property taxes.

So, in North Carolina, the property tax bills are sent out September 1st and are paid in one lump sum for that entire year. Interestingly, the County files a tax lien on the property on January 1st of that year. This lien takes precedence over all other liens, should the owner not pay.

The property valuation is done by the County based on size of the property, size of the house, building material and any additions/modifications to the house. With the property values declining, some people are contesting the tax value the County is placing on their property.

Property taxes are tax deductible at tax time.

Hope that helps.

David Karp

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Questions re Tax Burden at Federal , State and County Levels re USA Investment

Its been several years now since the sub-prime stock market crash {circa 2008/} yet many Australia's interested to invest in a 'second wave' of USA investment , still dont seem to know , or discuss or appear to acknowledge the local tax burden facing many property holders across the USA.
From what i know, NY State, New Jersey , Texas, California & Florida are 'outrageous' [compared to Australia]
re their levels of county tax IE County tax in these states is paying for the education system , teachers wages, police wages , and the burden is so severe in many localles that people are selling their homes still, because they have been greiving their taxes and cannot afford annual property taxes of [for instance $15,000.00 tax per annum on a $500,000.00 home in Suffolk county - NY - USA.

I have heard stories of people being so greived by their annual taxation bills relateing to home ownership at a federal , state and county level in the USA of still faceing the very real possibility of being forced to sell- up to off-load their property & re-locate to such states as Tennessee [on account of taxation].

I welcome all comments - regards investorsam

 

[investorsam]

THINK TWICE BEFORE BUYING PROPERTY IN THE USA

From the online tax story :-
Who Pays America's Highest Property Taxes?
Forbes.com staff, 01.23.09, 02:00 PM EST


The rub: Local governments need tax revenue for everything from school district expenses and libraries to police, fire and ambulatory services. That means if tax revenue falls too much, local property tax rates are often raised to account for the budget deficit that results.

As a result of this specter, some are crying foul. Angry homeowners, whose tax bills are rising despite dropping home prices, have prompted lawmakers in New York, Georgia, Oklahoma and Wyoming to consider proposals to cap property taxes as a percentage of a home's value.

"People are unhappy that their bills are increasing," says Kim Rueben, public finance economist at the Urban Institute. "Now that values are falling, they want their bills to fall."

--------------------------------------------------------------------------------------------------------------------------

Questions re Tax Burden at Federal , State and County Levels re USA Investment

Its been several years now since the sub-prime rort/ stock market crash {circa 2008/} yet many Australian's interested to invest in the 'second wave' of USA investment , still dont seem to discuss or appear to acknowledge the local tax burden facing many property holders across the USA.

From what i know, NY State, New Jersey , Texas, California & Florida County Taxes are 'outrageous' [compared to Australia]
IE County tax in these states is paying for the education system , teachers wages, police wages , and the burden is so severe in many localles that people are selling their homes still, because they have been greiving their taxes and cannot afford annual property taxes of [for instance $15,000.00 tax per annum [or more] on a $500,000.00 home in Suffolk county - NY - USA.

I have heard stories of people being so greived by their annual taxation bills relateing to home ownership at a federal , state and county level in the USA & face now the very real possibility of being forced to sell-up to off-load their property & re-locate to such states as Tennessee or Alabama where the taxes are lower.

I welcome all comments - investorsam

 

[howmanyru]

The total cost was $25,000. The rent is $900 a month. That’s a return is 42.3 per cent.

Who the heck would rent at $900 a month if you could by the house for $25K?

 

[julialnguyen]

US property

Hi there,

I'm looking for people that recently purchased properties from the US through Jeff Lewis, Ronald Blum or Mike Pool. Please get in touch with me and share your experience because personally I have really bad experience dealing with them and I want to know if anyone out there is going through the same thing or I'm the only exception. Please contact me at julia@legians.com or 0412 225 036. Thanks