People often hear that one of Governors Club’s many benefits is having a Chapel
Hill address while paying Chatham County taxes. The following table
illustrates just how great of an advantage it really is!
| |
Governors Club |
Chapel Hill Neighborhood |
|
Price of Home
Annual Tax Rate
Annual Tax
Taxes per month |
$500,000
$0.6642/$100
$3,321
$277 |
$500,000
$1.5404/$100
$7,702
$642 |
Mortgage payment with taxes included is $365 less per month for a $500,000
home in Governors Club versus a $500,000 home in Chapel Hill.
OR SAID ANOTHER WAY:
You can buy a $550,000 house in Governors Club and have the same mortgage
payment with taxes included as you would for a $500,000 house in Chapel
Hill.
This example is based on a 30 year mortgage with a fixed interest rate of 6.75%.
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