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To: Moominoid who wrote (9413)9/18/2006 5:54:16 PM
From: Ilaine  Read Replies (1) of 218871
 
You pay property tax whether you rent or own. If you rent, the owner passes this on to the renter as part of the rent, otherwise he's taking a loss. And it's not tax deductible for the renter.

Anybody who's renting property for less than PITI is crazy or desperate and going broke fast. PITI = Payment of mortgage, Interest on mortgage, Tax on property, Insurance on property.
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