Sale of these have increased the last couple years.
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Super Luxury Homes
Dec 22, 2021
Last reply: 4 years ago
7 Replies
Fun to look some of these places up and see size and taxes. The one that sold for 90 mil has a property tax of $77,000 but is less than
4,000 square feet. Neighbors house that size sold last year for $525,000 and property tax is less than $5,000.
Location is a big factor. I stay a few times a year with my friend at her NJ vacation home. Value is about $2.5 million for 2200 sq ft. Tax is 30K
Her regular house in PA is just as nice, 3500 sq ft, $650k and tax is
10k. One difference is one is right on the ocean front. You can guess which one.
I know, location is the big factor.
I watched part of one economic conference in the UAE, and they started sending me lots of emails for really expensive houses, in Dubai.
They did stop when I unsubscribed.
I've been to Ocean City, Pennsylvania. Beautiful view of the Punxatawny Reservoir.
I used to hunt near Punxatawny. Even shot a couple of Phil's relatives. Taste like chicken.
A lot of that is foreign money, some not legitimately obtained. That is why the government wants better reporting of cash transactions. Real Estate is a great way to launder drug money. That is why they say Miami circa late 70s-80s was being built on cocaine.
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