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Originally Posted by ILUVSAT
Yeah. The tax rate is basically the same citywide. It's when the property values skyrocket - so do taxes owed. However, I'd much rather pay a little more in property taxes than pay a state income tax.
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The property taxes on these properties can be so high that the owner can't afford to keep the property, and has to sell. You have to have a high income or a lot of money in the bank to pay the really high property taxes.