Originally posted by @Jassem A.:
I'm curious why anyone rents a home in Cleveland when it would appear that it is cheaper to buy a home than it would be to buy a beat up used car. The tax assessments don't make much sense either. Most of the cheaper ones look like they are tax assessed around 5 grand. Does that mean if you build a new home the same size they will still tax it for 5 grand even though it costs 200 grand to construct?
If a property is in a poor, rundown condition and is assessed at 5k, when it is rebuild it will be valued much higher. If you looked at a lot of those properties in Cleveland you would understand why they are marked so low. However keep in mind that comps in a warzone keep the values low no matter how new the structure is.
