I have read that every state in the U.S. has a property tax. Is there a (first world) country somewhere that doesn't charge this?
Early Retirement Extreme Forums » Housing Questions
Are there any countries that don't charge a real estate property tax?
(17 posts)-
Posted 1 year ago #
-
The UK does'nt have a property tax as such, although it does have council tax to fund local government, which is calculated on the property's value. The key difference is that its paid by the occupier rather than the owner, so if the property is empty of rented out, the owner does'nt need to pay.
A few groups are exempt from it, such as full times students, who would'nt pay anything regardless of the value of the property, and single occupiers are entitled to a discount.
Posted 1 year ago # -
I'm not sure, maybe you could tell me what it is.
In Aus we pay rates, but that's just for the services like garbage, sewage etc.
Posted 1 year ago # -
OK I just read that wiki link, I guess we do it's just not called a tax.
I pay about $700 pa for 25 acres, but that's in a rural area.
Posted 1 year ago # -
I'm not sure any country fails to levy a property tax....after all its the one thing you can't pick up and take with you if you don't like the current political environment and want to leave.
You could burn your house down if you didn't want them to have it but the land is there.
Posted 1 year ago # -
Not an answer, but a thought that occurred to me: In the old days of Florida people built fishing shacks in certain areas. They were on stilts, over water. These days regulations exist such that you can't build one, sell one, or rebuild on if damaged in a storm (they're trying to get rid of them).I wonder how these are taxed-- no land, what's the market value of something you can't sell?
Posted 1 year ago # -
@Mo - don't know about Florida, but if you hold title to the land, even if it is underwater, you are taxed in Oregon. However, underwater land can often be leased for pollution credits.
Posted 1 year ago # -
http://en.wikipedia.org/wiki/Talk%3AProperty_tax#States_And_Countries_With_No_Property_Tax
There are a few suggestions for further research: Malta, Hungary, Cayman Islands.
Posted 1 year ago # -
I know someone with a house in rural Czech republic... about $8 annual.
Posted 1 year ago # -
Next June the voters of North Dakota will have a chance to abolish property taxes.
http://money.msn.com/saving-money-tips/post.aspx?post=556e1a5f-2b4f-448e-9213-a7ea328cba59
Posted 1 year ago # -
MikeBos used to own an acre in the desert that he bought for $500. If he sees this post, perhaps he can tell us how much the property tax was...
Posted 1 year ago # -
Even really low property taxes are a hassle. If you forget to pay them, you're going to be in trouble. I think this is partly why secretwealth was aking for countries with no property taxes rather than lowest property taxes.
Posted 1 year ago # -
Re Malta, Hungary, Cayman Islands:
According to the Malta Wikipedia article, there is no property tax.
The Cayman Islands also have no property tax. More information on moving there: http://www.remax-cayman.com/livingcayman.html
The information I'm finding on Hungary is a little ambiguous though. It seems like there is a national property tax but only if your property value exceeds a certain amount. There might be local property tax depending on the location. It seems like it's taxed if your property is a rental or business property. I think. Maybe Hungary would be best avoided, or maybe someone can clear things up.
Posted 1 year ago # -
@BeyondTheWrap $10/year.
And Alaska pays residents a couple grand every year from the permanent fund which would probably off-set any local property taxes you had to pay to your town/county.
Posted 1 year ago # -
Oh yeah, like mikeBOS said, Alaska-- there's the answer. I read an article last year about a town giving away lots-- the catch seems to be that you have to actually build and live on the land. Apparently a lot of Alaska has no property tax.
@George, the houses in the Gulf were built by people who were effectively squatters. They just went out into the gulf, drove pilings in and built. They didn't own the bottom then, and I doubt they do now. I read up on this a bit this weekend.
Despite my familiarity with these structures there are less than 50 left. The state made the practice illegal years ago and burned many down. The remaining structures have been grandfathered in, but even they are supposed to have been torn down before. Currently there supposed to be gone by 2019, but there will probably be another extension granted.
Posted 1 year ago # -
Certain autonomous regions of the world often have very different tax systems than their parent nation, often more favourable to outside investors. According to this, the Faroe islands have no property tax or similar: http://taks.fo/00674/00680/ and neither does Greenland apparently. The Falkland islands and certain other British overseas territories like St Helena and Pitcain also may be free of it - can't be sure though, its not an easy thing to find out. Other places to check would be French territories like New Caledonia and French Guiana.
Property tax seems fairly universal though, even in well established tax havens. Of course, if you want to escape all taxes, there is always Antartica ;)
Posted 1 year ago # -
I would not be so worried about the existence of property tax. Someone has to pay for the road to your property and for the justice system to protect your property from looting.
In my view community (or state) things have to be paid for. You can tax property and wealth and/or you can tax earning and consumption. I think using a mix of the two is fair because using/producing something and keeping something involves a cost for the community.
The level of taxes may be a different thing although.Posted 1 year ago #
Reply
You must log in to post.