5 Expenses homeowners pay that renters Do not
Aug 12, 2023
By Vijay Rohila
Homeownership is a big decision and it's important to understand all the costs involved before making a decision. Here are five costs a landlord has to pay that a tenant doesn't pay:
Property taxes are a regular government expenditure that homeowners must bear. The amount of property tax you pay is determined by the value of your home and the local tax rate.
- In the US, the average yearly property tax payment is $2,110.
- State-by-state property tax rates vary substantially. For instance, the average annual property tax bill in Hawaii is $4,300, but the average annual property tax bill in Alabama is $600.
- To find out how much property tax you will have to pay, get in touch with your local tax assessor's office.