patrick.net

I'm not attracted to incendiary assholes. He should tone it down and try again, I'm not that desperate (yet).

I can't get past his approach, haven't read much beyond the capital letters yelling at me and inflammatory language.

shrekgrinch says

UnitedSocialistStatesofAmerica says

Also, I’d like to point out that there are NO property taxes in Argentina.

Really? I am amazed by that. Is there some particular reason why they don’t have property taxes in Argentina?
Also, how strong is their land/property title legal apparatus over there?

Where did you get that? I emailed an Argentinian friend and he says that there most certainly is property taxes in Argentina. He did say that there is no property tax bills (maybe that is what you meant), you must go down and pay each year without being billed. There is also something called an ABL tax (got no explanation on what that is) on property that is in addition to the actual property tax. It's not called property tax but asset or personal goods tax. Foreigners pay a higher rate by the way. I also looked on a couple of expat websites just to double check and they all say the same thing.

He also pointed out that any economic statistics about Argentina are pretty much useless. There is a huge pervasive underground economy there with almost all businesses keeping 2 sets of books.

UnitedSocialistStatesofAmerica says

will NEVER EVER EVER respond to any of YOUR posts from now on, because you’re an IDIOT

Looks like Nomo was right. Step 2--The name calling has begun...

UnitedSocialistStatesofAmerica says

I will NEVER EVER EVER respond to any of YOUR posts from now on, because you’re an IDIOT.

I guess by "NEVER EVER EVER" you meant a little over an hour. :)

Can't we all get along? Sorry I could not resist.

UnitedSocialistStatesofAmerica says

these charges are levied by the provinces and are based on the assessed value of the property”

UnitedSocialistStatesofAmerica says

There are
N-O… P-R-O-P-E-R-T-Y… T-A-X-E-S… I-N… A-R-G-E-N-T-I-N-A.

huh? So, if my county calls it an asset tax based on property value then it's not a property tax? It's all in the name I guess.

A tax means less money in your pocket no matter what you call it.

UnitedSocialistStatesofAmerica says

inflection point says

A tax means less money in your pocket no matter what you call it.

Completely agreed. I was merely pointing out to these stunads that in one country the failure to pay them can result in your losing the house while in the other it DOESN’T.

Suggestion for YOU then. Say that--instead of saying they DON'T have property taxes.

People think that because Amazon or NewEgg aren't obligated to collect a sales tax, that there is no need to ever report any taxes for items purchased. However, your state income tax form may have a requirement for it. And to dodge it, is just a game of whether it's a piddling amount or not and whether you get a hard-ass audit.

Many consider property tax to be the fairest of all taxes. If you are using a piece of property to generate income, you can easily pay it. If you are letting the land lie fallow, that does not serve the greater good. Having to pay property tax is a small lever preventing this guy:

from hoovering up land during every downturn, and building a dynasty by virtue of eventually owning all the land.

UnitedSocialistStatesofAmerica says

It’s two completely different ways of collecting taxes.

So by your own definition it's a tax (property, asset, personal, whatever you want to call it) on your property, just with a different collection process and penalties. WTF are you splitting hairs over and why are you so fixated on this?

Consider these two scenarios:
1.Buy a property for $200K with 50% down @ 5%.Monthly $536.You will never see that down payment again unless you sell.
2.Buy the property with no down(VA if qualified) or 5% down(FHA if qualified).Ladder the $100K or $90K into CDs and make up the difference in payment($536) out of interest and out of pocket.If you have to default(job loss,etc.)you lose $0 or$10K and still have the CDs.
Why hand over $$$ to the lender?

divelly says

Consider these two scenarios:
1.Buy a property for $200K with 50% down @ 5%.Monthly $536.You will never see that down payment again unless you sell.
2.Buy the property with no down(VA if qualified) or 5% down(FHA if qualified).Ladder the $100K or $90K into CDs and make up the difference in payment($536) out of interest and out of pocket.If you have to default(job loss,etc.)you lose $0 or$10K and still have the CDs.
Why hand over $$$ to the lender?

Well, it's not quite that simple. There will be PMI in the 2nd case and usually a higher interest rate. But, I agree, putting down as little as possible is usually a good strategy.

Consider these two scenarios:

1.Buy a property for $200K with 50% down @ 5%.Monthly $536.You will never see that down payment again unless you sell.

2.Buy the property with no down(VA if qualified) or 5% down(FHA if qualified).Ladder the $100K or $90K into CDs and make up the difference in payment($536) out of interest and out of pocket.If you have to default(job loss,etc.)you lose $0 or$10K and still have the CDs.

Why hand over $$$ to the lender?

Only if the interest rate is high enough, and when you're able to take some money out to make up your expenses. What's the current rate? Can you do that with CD? Think about it. CD in these days are more like a safety box rather than an investment.

Here are some quotes from your article that you conveniently left out -
http://www.apartmentsba.com/argentina-real-estate-consulting-&-property-management-69/annual-property-taxes-in-buenos-aires-91/

"It doesn't really matter what you call the tax, there is a tax that is due each year based on the value of your property or assets owned in Argentina. "

"As a foreigner that is purchasing property in Argentina, it is ESSENTIAL that you pay this property tax. When you go to sell your property you must get the blessing of the AFIP office via a certificate/permit saying you are up to date on your property taxes. If you aren't up to date you will not be given this certificate. Not only do you have to pay the back taxes but there is a penalty of up to 25% for each year that you didn't pay the property taxes." (ESSENTIAL capitalized in the article)

"For all the economic problems in Argentina going on, one would assume the government would make paying this tax very easy. WRONG. The government won't allow you as a foreigner to pay this tax. Yes, you heard this correct. You must hire an accountant to prepare this property tax for you. Most of these accountants can easily prepare it for not a huge sum of money but not cheap either. I use one of the most respected accounting firms in town and I was charged about u$s 450 to prepare mine for EACH property. There are cheaper accountants out there but I tend to use the best in the business when I do business in Argentina. You might think you are saving money by using someone with a cheaper fee but more times than not it will come back to haunt you when it's all said and done with most professional services here in Argentina."

So Argentina has a property tax that you are required to pay or else you have to pay a hefty penalty when you try to sell. Not only that, but you also need an accountant (whom you have to pay) to prepare your property taxes. Sounds like pure utopia...