Property maintenance costs in the USA
Homeowners in the USA spend
Average monthly charges for taxes, utilities, insurance and other miscellaneous costs are $600 in California, $520 in Florida, $560 in New York and $700 in Texas. For instance, it will cost $13,000 per month to maintain a flat in a Manhattan housing cooperative valued at $13M while in Florida, charges for a
Apartment | 10–30 |
---|---|
House | 15–50 |
Prime property |
50–100 |
Property taxes
US property tax is paid once a year to the district court. The rate varies from state to state but is generally about 1% of the property value. For example, a household in California pays approximately $2,839 per capita a year.
Arizona | 1,356 |
---|---|
California | 2,839 |
Florida | 1,773 |
Illinois | 3,507 |
New Jersey | 6,579 |
New York | 3,755 |
Capital gains tax cap rose from 15% to 20% in 2013 while estate and gift taxes went up from 35% to 40%.
Utility bills
Utility charges vary from state to state. For a
Natural gas heating in winter costs about $680, propane heating about $1,700 and electric heating is $900.
Lawn maintenance incurs $80 per month and waste removal costs
Fees for property managed by a homeowners association range from $200 to $400 per month depending on the variety of amenities available: pool, gym, concierge, etc.
Electricity in New York costs $75 per month on average, $116 for TV, $45 for Internet access and
Insurance
Maximum insurance charges are $1,000 per year. Homeowners can obtain insurance covering natural disasters for
Miscellaneous
The average US household spends $125 per month ($1,500 per year) on furniture, home appliances and other household goods. Repairs can cost up to $2,000 per year and cleaning services
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