Saturday, April 9, 2011

Property Tax

The other day I was talking to Huyen's sister Huong about taxes in America. She had asked me how much a home was and I told her an average home in a nice town might cost between $300,000-$500,000. This didn't blow her mind since property in Hanoi is on par with this. However, when I told her how much tax could cost every year, she nearly fainted. I said that someone might have to pay 1.5% on their house every year which could mean $4,500 on a $300,000 home*. Huong told me that she pays 17,000 VND in property tax every year. Let me do the conversion for you: That's $0.82.

* For the record, I don't own a home so I could really have no idea what I'm talking about.