That’s not inherently true in rural states where the property value math is a lot different. In remote areas, land can only be a few thousand dollars of purchase value, or be passed by family, thus still frequently be inhabited by the dirt poor who have few employment opportunities in said rural areas. I should know, I’m smack dab in the middle of one of said areas.
Property taxes, like basically every other cost to a rental property, just gets passed down to renters as well. It’s not like landlords let taxes affect their profit margins.
North Dakota like many states has a renters refund for those with lower incomes which is designed to at least partially offset that. Limits look to be a bit low but every little bit helps.
That’s not inherently true in rural states where the property value math is a lot different. In remote areas, land can only be a few thousand dollars of purchase value, or be passed by family, thus still frequently be inhabited by the dirt poor who have few employment opportunities in said rural areas. I should know, I’m smack dab in the middle of one of said areas.
Property taxes, like basically every other cost to a rental property, just gets passed down to renters as well. It’s not like landlords let taxes affect their profit margins.
North Dakota like many states has a renters refund for those with lower incomes which is designed to at least partially offset that. Limits look to be a bit low but every little bit helps.
How ownership in North Dakota is actually smaller than the national average.