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A Quick Look at Big Cities Big Property Tax Rates

Property taxes can impact an investor’s net profit. But where are property taxes highest and lowest among the big cities?

Houston perennially ranks highest, according to ATTOM Data Solutions. The property tax rate as of 2016 for Houston was 2.17% of the assessed value of the home. But Houstonians pay no state income tax.

Chicago ranked number two among the big cites with the highest tax rates, at 2.15% in 2016. A dubious distinction, to be sure. But the tax rates differ among ChicagoLand’s many suburbs. And the impact of taxes is often mitigated by other critical factors: in Chicago, for instance, many close-in suburban homes are affordably priced, safe, and in well-located, potentially long-term appreciating areas.

For more information, see the Crain’s Chicago article here.

Consider investing in a professionally managed portfolio of single-family homes, many currently in the Chicago area? Please contact Harold Willig at 917-209-4452 or harold.willig@springviewinvestments.com

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer, and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience. Mr. Willig also ran a consulting practice and provided valuation, analysis, and transactional support services to multi-billion dollar real estate companies. Previously, Mr. Willig served as the Senior Controller and Vice President of Financial Analysis and then the Chief Financial Officer of the Athena Group, a multifamily development company and fund manager.

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