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Updated about 7 years ago,
what the heck are special taxes?
hey! so Im trying to get some practice analyzing apartment complexs and im having trouble understanding taxes.
its a 7 unit in Milwaukee Wi that rents for $600 a unit which ends up being $4200 a month /50,000 a year rental income
I guess my only question is what the heck are special taxes?
(specials was $18,534)
the only conclusion i can come up with is that it is 35% taxation of that 50,000 annual rental income? im confused because if thats the case this property would be cashflowing at $-200 based on all the expenses that i calculated on the property.. am i missing something? just seems ridiculously high and turned this property from a great deal to a hunk of doo doo