Lease to Purchase : Property TAX ?

The US Average property tax rate is 1.38% of the property value. The very highest state-level average is 2.57% (Texas, which has no income tax).

There are individual exceptions - these are averages - but your numbers are way off.

(source: Moody's Economy.com, via the New York Times)

A property with $3000 taxes should be worth, depending on the state, something on the order of $250,000. Are you really charging only $1000 rent on a property valued so high? Sounds like you need to raise the rent - or get your property re-assessed if it's not worth that much.

Please clarify.

Actually, he's said, variously, 25% or 28% (the latter is what it was under Reagan).

He'd have to fight pretty hard to get that increase passed, but regardless, at the moment, this is pure speculation.

Given your incorrect numbers re property taxes, I wonder what you're trying to say/ask. And what "lease to purchase" has to do with any of this.

Madrid.http://www.lease2purchase.com/featuresnbenefits.php>

You made a lot of assumptions here, so let me make one. I assume you are not here to spam your site. That said, point 001 may or may not be true, depending on what you mean by "huge". We pay 1% of the sale price, and property tax do not increase as long as we own the house, which I think is very fair.

Points 3 & 4, what is your basis for making these assumptions? I doubt that your #4 is correct.

#5, I didn't bother to click on your link. but lease to purchase has been in existence in the US for a very long time.

#6, huge assumption, scare tactic. It may or may not happen. And whether, if it happens, that it will also apply to individually owned homes is not known.

#7, you are welcome.

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We pay 1% of the sale

what are you talking about? In California, where property taxes are rather low, we pay more than 1% of the purchase price (when you count the various district taxes, etc.), and it does increase year after year.

Other states, I assume, are even worse.

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On Jun 19, 2:25 pm, "Gil Faver"

That is not a valid assumption.

I did click on the link and read on for a while, but would not recommend that anyone else bother to do so. There is much gross exaggeration throughout leading up to a sales pitch. Any financial site that says: "Once you fully understand the power of the Lease 2 Purchase contract, you will never buy or sell a home the conventional way again." sets of alarms. When you get through all the text, at the end you are asked to send $145 for lease to purchase software. But that price is only if you ACT NOW. The price soon goes up. I pass.

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On Jun 19, 4:25 pm, "Gil Faver"

These usually work in the seller's favor. There is a premium paid over rent. If for any reason the deal doesnt go through, then the seller keeps the premium. If someone cant buy outright at the beginning theres a fail chance they wont at the end of the contract too.

In a rapidly appreciating market, the buyer locks into a lease price.

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