if you referring to california, I'm not sure what you're talking about. https://www.yolocounty.org/government/general-government-departments/assessor/assessment-information/when-is-property-reappraised
government websites clearly state that California real property (as opposed to personal property) is basically only reappraised when there's a transfer of ownership. the rest of the time, the property taxes can only increase at a maximum of 2% a year. There's no distinction between primary residence and income property.
If you're referring to nevada, read the rest of my post you dumb idiot. taxes can only go up 8% per year for income properties.
the United States doesn't have a federal property tax, property taxes are paid to the state or county, and each state/county makes their own rules.
I don't know what to tell you except that I know several rich people who do this as part of their long-term investment strategy. they buy the property, let it appreciate, and either sell it at its increased value or take property loans out against it. the properties are traded just like stocks. Oftentimes they might pay to renovate the property to increase its value, but at the end of the day what matters to them is the ownership of the property and not whether or not it's being rented.
if you own property, either your house or any other kind of real property, I highly suggest you familiarize yourself with the property tax rules for your county and State.
if you referring to california, I'm not sure what you're talking about. https://www.yolocounty.org/government/general-government-departments/assessor/assessment-information/when-is-property-reappraised government websites clearly state that California real property (as opposed to personal property) is basically only reappraised when there's a transfer of ownership. the rest of the time, the property taxes can only increase at a maximum of 2% a year. There's no distinction between primary residence and income property.
If you're referring to nevada, read the rest of my post you dumb idiot. taxes can only go up 8% per year for income properties.
the United States doesn't have a federal property tax, property taxes are paid to the state or county, and each state/county makes their own rules.
I don't know what to tell you except that I know several rich people who do this as part of their long-term investment strategy. they buy the property, let it appreciate, and either sell it at its increased value or take property loans out against it. the properties are traded just like stocks. Oftentimes they might pay to renovate the property to increase its value, but at the end of the day what matters to them is the ownership of the property and not whether or not it's being rented.
if you own property, either your house or any other kind of real property, I highly suggest you familiarize yourself with the property tax rules for your county and State.