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Property taxes

Hello,
I see that if I purchase property in Hungary there is a 4% tax. Is there also an annual property tax like in the U.S.?

There is a one time tax  called ILLETEK when you buy property.
It depends where the property is located if you must pay a annual property tax or not.
They now pay yearly in Erd.Used to not have to there, my in-laws lived there for ages and never paid annual tax on their property.
For now, Budapest has no annual tax but things could always change.

We pay about 10,000 HUF (about $35) in annual property taxes. For four properties. Total.

The rates can vary depending on where you live, the type of property you bought, and how much the property cost when you bought it. Yearly taxes also can differ on the property if you live in it or if it is a second home (the second home rate is higher).

But as you can see by what we pay, yearly property taxes should not be $$$$ thousands like in the USA.  :)

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