Property taxes are twice as much as the mortgage!

[Frank Schwarz]

I was just looking at a property and was amazed that the property taxes are so high!

The house is on the MLS for $56,000 and the taxes are $6460 annually.

Checking past tax amounts showed that in 2011 they were $14,498 for a tax assessment of $41,100. 

I can't believe this! I guess I've just lived in low-tax areas for too long.

I'm just running numbers but wanted to know if you have walked away from properties because the property taxes were so high.