Taxes, utilities, cost of living, renting, management companies, real estate business in the US
Rates, taxes, utilities
The annual tax on property ownership in the various administrative districts may vary and is 1-2% of the purchase price per year. The tax rates in different cities and states as follows: New York - 11.5%; Los Angeles - 1.1-1.3%; Washington - 0.96%; Honolulu (Hawaii) - 0.37%; Las Vegas - 3.25%; PHILADELPHIA - 8.26%; Florida - 1.5%.
The costs of maintaining the property in residential condominiums called homeowners association fees. They include the cost of maintenance of common areas, insurance, as well as spending on landscaping. Sometimes include the cost of water, cable TV and internet. This fee is included in monthly installments of homeowners' associations (HOA), that it makes payments. Electricity, telephone and gas owner pays separately.
The content of the classical house with three bedrooms, two bathrooms, two garages will cost $ 100-250 per month in electricity, $ 100-250 for water, $ 60-100 for grooming the lawn. You can pay for all utilities on the internet.
If the owner wants to protect yourself and your home, you should take out insurance against fire, insurance, plumbers, electricians and air conditioning. The cost of insurance is usually proportional to the value of the house.
Property rental
The standard rate of tax on rental income is 30% of the introduced rent, but most owners pay much less or not pay any taxes because it can reduce the write off the cost of maintaining the property (such as depreciation value of the property for 15 years, the interest paid for mortgages, insurance, payments to the association of homeowners, the cost of repair, and so. d.).
MANAGEMENT COMPANIES
If the landlord does not intend to personally take care of their property, he may seek the services of a management company. This company will take over the timely payment of taxes and utility payments, collection of rents from tenants, problem solving, and agrees to accept calls from tenants and eliminate potential problems at the expense of the owner. The owner and management company is required to enter into a contract. It prescribes the size of the monthly fee, who pays for what, details of the parties. The cost of services the company will cost 10-15% of the monthly rent. After signing the contract must pay half of the monthly rent - this is a one-time payment.
SALE OF REAL ESTATE
Tax on the sale of real estate (Real Estate Tax) for residents varies depending on the state. For example, in Massachusetts, it was $ 4.56 per thousand from the sale. California sales tax is 1% regardless of the price.
Regardless of the location of the real estate non-residents pay an additional 10% federal tax on the sale price of the object. This tax, by the way, can be avoided if the sale price is up to $ 300 thousand. And the new owner (buyer) agree to sign a document that he undertakes to live in this house or apartment in person for the first two years and not less than six months in each year. In addition, the tax authorities may deduct from the 10% tax on the sale of real estate tax on the rental income that a property owner paid earlier in the delivery of housing. Thus, the seller pays less.
Rates, taxes, utilities
The annual tax on property ownership in the various administrative districts may vary and is 1-2% of the purchase price per year. The tax rates in different cities and states as follows: New York - 11.5%; Los Angeles - 1.1-1.3%; Washington - 0.96%; Honolulu (Hawaii) - 0.37%; Las Vegas - 3.25%; PHILADELPHIA - 8.26%; Florida - 1.5%.
The costs of maintaining the property in residential condominiums called homeowners association fees. They include the cost of maintenance of common areas, insurance, as well as spending on landscaping. Sometimes include the cost of water, cable TV and internet. This fee is included in monthly installments of homeowners' associations (HOA), that it makes payments. Electricity, telephone and gas owner pays separately.
The content of the classical house with three bedrooms, two bathrooms, two garages will cost $ 100-250 per month in electricity, $ 100-250 for water, $ 60-100 for grooming the lawn. You can pay for all utilities on the internet.
If the owner wants to protect yourself and your home, you should take out insurance against fire, insurance, plumbers, electricians and air conditioning. The cost of insurance is usually proportional to the value of the house.
Property rental
The standard rate of tax on rental income is 30% of the introduced rent, but most owners pay much less or not pay any taxes because it can reduce the write off the cost of maintaining the property (such as depreciation value of the property for 15 years, the interest paid for mortgages, insurance, payments to the association of homeowners, the cost of repair, and so. d.).
MANAGEMENT COMPANIES
If the landlord does not intend to personally take care of their property, he may seek the services of a management company. This company will take over the timely payment of taxes and utility payments, collection of rents from tenants, problem solving, and agrees to accept calls from tenants and eliminate potential problems at the expense of the owner. The owner and management company is required to enter into a contract. It prescribes the size of the monthly fee, who pays for what, details of the parties. The cost of services the company will cost 10-15% of the monthly rent. After signing the contract must pay half of the monthly rent - this is a one-time payment.
SALE OF REAL ESTATE
Tax on the sale of real estate (Real Estate Tax) for residents varies depending on the state. For example, in Massachusetts, it was $ 4.56 per thousand from the sale. California sales tax is 1% regardless of the price.
Regardless of the location of the real estate non-residents pay an additional 10% federal tax on the sale price of the object. This tax, by the way, can be avoided if the sale price is up to $ 300 thousand. And the new owner (buyer) agree to sign a document that he undertakes to live in this house or apartment in person for the first two years and not less than six months in each year. In addition, the tax authorities may deduct from the 10% tax on the sale of real estate tax on the rental income that a property owner paid earlier in the delivery of housing. Thus, the seller pays less.
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