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Property taxes in 1964
The property tax for Marina City in 1964 was $280,000 – the equivalent of $1.8 million in 2007. By 2007, property tax for the residential towers would of course be paid by individual owners of condominium units. Using the following estimates...
| Configuration |
Number of units |
Estimated average property tax |
Estimated total property tax |
| Studio |
256 (4 per floor x 32 floors x 2 towers) |
$1,300 |
$332,800 |
| One bedroom |
576 ((8 per floor x 32 floors) + (4 per floor x 8 floors)) x 2 towers |
$1,800 |
$1,036,800 |
| Two bedroom |
64 (4 per floor x 8 floors x 2 towers) |
$3,000 |
$192,000 |
...property taxes in 2007 for the residential property is approximately $1,561,600.
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