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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (75560)	6/23/2011 10:39:59 PM
From: TobagoJack	Respond to of 219825

in hk we lease our land from the sovereign at 75+75 years (auto renewal) or 999 years, depending on area. for example the rent for a usd 1.5 mil apartment would be 1,100 per year on top there would be another usd 1k per annum for property tax no additional sums to carry as and when lease is up, it generally is renewed for a lump sum payment, these days amounts to perhaps 2.5% of abode value, one-off. seems fair. in the bay area usd 1m house would attract an annual property tax of usd 15k by the math, it seems the owner does not really own the property. on top, the fellow living in the hk apartment gets to keep just about 100% of his earnings, and the fellow in the bay area gets taken to the cleaners every quarter for 25+ % of his income. bit rapacious of the governing authorities, it appears. it is just math, and the stuff economic freedom is made of or madoff-ed, or re-distrisbuted. china mainland so far does not have a property tax system, may intro one. land is leased. in thailand foreigners cannot own land without constructing convoluted holding structure, and those who constructed wrong are about to be shafted rather severely as inspections of holding structures are happening right now and those who adopted plain vanilla nominee shareholding structures would be ... too ugly to detail we used good lawyers with fair advice, and followed recommendations and do not even get inspected never mind punished. some kind of wonderful.