Quote from PocketChange:
I just looked up an old condo i had in Chicago... 1300 sqft on Lake Shore Drive.
Bought it for 165K in 1995, property taxes $1200 HOA $200
Sold it in 2000 for 295k, property taxes $4500 HOA $400
Same unit available today for $260k, Property Taxes $12500 HOA $950
Are you serious? How can property taxes on a 260k condo be 12,500 a year? That's 5%!!!!!!
