Baltimore Rental Rate - Posted by Rental Man

Posted by Rental Man on October 23, 2003 at 11:57:50:

Thanks, I was referring to the TAX RATE. I just kind of wanted an idea of what the typical tax rate was in the Baltimore City area. .5% or 1% or 5%

Thanks

Baltimore Rental Rate - Posted by Rental Man

Posted by Rental Man on October 23, 2003 at 09:01:40:

Does anyone know what the average tax rate in Baltimore City is. For instance, if I bought a place to rent out in Baltimore what percentage should be allocated per month.

Thanks

Re: Baltimore Rental Rate - Posted by E.Eka

Posted by E.Eka on October 23, 2003 at 15:01:12:

Sorry, i don’t even think I read your question…ha ha! I need some sleep.

Re: Baltimore Rental Rate - Posted by Ron

Posted by Ron on October 23, 2003 at 14:21:24:

Annual property taxes on a house assessed at $60,000 are probably about $1,200.

Ron Guy

Re: Baltimore Rental Rate - Posted by Randy (SD)

Posted by Randy (SD) on October 23, 2003 at 11:19:40:

Are you asking for the TAX RATE or the rental rates? The real estate tax rate is calculated on the value of the property and the tax basis, it will be disclosed in the listing or sales agreement or closing documents. Your total mortgage payment should include the taxes and insurance as well as PI (assuming your lender escrows taxes and insurance).

Re: Baltimore Rental Rate - Posted by E.Eka

Posted by E.Eka on October 23, 2003 at 09:51:59:

It depends on the average rents in that particular neighborhood. The city is too broad/general. Also ideally, you’d want to generate positive cash flow, which means your rent is higher than your mortgage, taxes and insurance payment.