This week’s real estate column in the WSJ written by Peter King focuses on energy costs. Where Utility Bills Are Low discusses three locations in the US with the lowest rates for kilowatt hours. Of the three locations mentioned, Fort Wayne, IN, Lincoln, NE, and St. Louis, MO, St. Louis ranks the most affordable at 5.5 cents per kilowatt hour.
The article featured the Mississippi Bluff Town Homes for its St. Louis example. Thanks to the information provided in the article it was interesting to compare taxes as well as energy costs. Taxes on a 500K home is Fort Wayne were approximately $8000 a year, for 200K home in Lincoln taxes were approximately $3000 annually. The Mississippi Bluffs Town Homes were estimated at 1% of the value, approximately $4000 a year making St. Louis real estate even more affordable. (Note: the developer of Mississippi Bluffs was just approved for 10 year tax abatement on the first 4 units, tax abatement on the remaining units is pending.)