Some places, retirees can get a free ride on property tax if they have less than 350,000 usd in assets, besides the property. That's the case in Fairfax, VA. Otherwise it is easily 1% in many States, ans could be 3-5% in NY, PA, or MD.

Somewhat off topic, but where I come from in the US there is an annual tax on owned real estate. That tax can be quite a chunk of change and sometimes results in forced sales to recover unpaid taxes. If you have a mortgage, usually taxes and insurance are included in mortgage payments to protect the mortgage lender, but if you own the property "free and clear" it's up to you and it can be tough for retirees living on reduced, fixed income.

At least in Thailand they don't tax you every year just for owning property.

Annual property tax is common in many countries. In some (like the UK) it's a tax that pays for local services. In Europe my local property tax was around 120,000B/year (equiv), though I knew people out in the sticks with no services who paid less than 5000B (equiv).

Yes, the lack of annual property taxes in Thailand is indeed an advantage but it does tend to discourage people from being serious about selling. If vendors had big annual taxes to pay on unused property here the asking prices would be a lot more realistic.

Somewhat off topic, but where I come from in the US there is an annual tax on owned real estate. That tax can be quite a chunk of change and sometimes results in forced sales to recover unpaid taxes. If you have a mortgage, usually taxes and insurance are included in mortgage payments to protect the mortgage lender, but if you own the property "free and clear" it's up to you and it can be tough for retirees living on reduced, fixed income.

At least in Thailand they don't tax you every year just for owning property.

Annual property tax is common in many countries. In some (like the UK) it's a tax that pays for local services. In Europe my local property tax was around 120,000B/year (equiv), though I knew people out in the sticks with no services who paid less than 5000B (equiv).

Yes, the lack of annual property taxes in Thailand is indeed an advantage but it does tend to discourage people from being serious about selling. If vendors had big annual taxes to pay on unused property here the asking prices would be a lot more realistic.

same with the low condo fees...could easily have 200 per month in taxes and 300 hoa fee,,,or way more in the US. I think the Thais would get off their gands if they had to pay carrying costs anywhere near that.