Oregon property tax: 8 times better than Prop 13

How is the zoning and planning in Portland? Do they have a strong nimbyism culture?

i was gonna ask what mimbidm was :smiley:

nimbyism. With so many Californians movijnh there, Nymbyism could be exported to Portland easily. Itā€™s contagious

10% of rental value is the rate

If a 2M house rents at $3000 a month, your annual property tax would be only $3600. Thatā€™s 0.18%, almost negligible in California standard.

I actually like Singapore style property tax. Primary home just pay $200 annual registration fee. Rental property pays 10% sales tax on rent. Simple and fair. Singapore premier must be a genius!

Interesting observation:
https://www.redfin.com/city/30772/OR/Portland/page-2

Lots of redfin listings.

Will buy redfin calls.

Glad you know. Singapore used to have the same problem as here, old folks canā€™t afford the property tax due rising property price. Basing property tax on rental value and discount for primary solve the problem.

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Why didnā€™t you share this Singapore secret earlier?! And tell us how trivial the Singapore property tax amount is.

China/Russia: no propery tax #1
Singapore: low property tax #2
Oregon: slow growing tax value, #3

$2M houses are not renting for $3000 in Singapore. Probably closer to $8,000 or $9,000. But thatā€™s because of price compression at the high end. $500,000 public flats will rent for $4,000 to $5,000 assuming you get the right to rent it. Been a while since I checked their rental market. @hanera might have better numbers

Btw with prop 13 you could be paying far less tax. The one place I have left in Sacramento is about 8% of rental value in tax thanks to prop 13 and rising rents. Of course I am at the other extreme on my Sunnyvale place