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States vary in how they tax common areas, for real estate tax purposes. It may depend on whether it is a condo or a co-op. For example, the state of Arizona taxes "residential common areas" in housing developments with a flat tax, but common areas of condominiums and golf courses are assessed separately. [18]
Most cohousing communities in the U.S. currently rely on one of two existing legal forms of real estate ownership: individually titled houses with common areas owned by a homeowner association (condominiums) or a housing cooperative. Condo ownership is most common because it fits many financial institutions' and cities' models for multi-unit ...
Condominium: a form of ownership with individual apartments for everyone, and co-ownership (by percentages) of all of the common areas, such as corridors, hallways, stairways, lobbies, recreation rooms, porches, rooftops, and any outdoor areas of the grounds of the buildings. Townhouses and apartments which are owned in the condominium form of ...
Use of land access to common facilities in the piece such as hallways, heating system, elevators, and exterior areas are executed under legal rights associated with the individual ownership. These rights are controlled by the association of owners that jointly represent ownership of the whole piece.
This map shows the incorporated and unincorporated areas in Wayne County, Michigan. I created it in Inkscape using data from the US Census Bureau. Date: 23 April 2007: Source: My own work, based on public domain information. Based on similar map concepts by Ixnayonthetimmay: Author: Arkyan: Permission (Reusing this file)
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This map shows the incorporated and unincorporated areas in Eaton County, Michigan, highlighting Waverly in red. It was created with a custom script with US Census Bureau data and modified with Inkscape. Date: 16 October 2007: Source: My own work, based on public domain information. Based on similar map concepts by Ixnayonthetimmay: Author: Arkyan
Condominium (a.k.a. commonhold and strata title) – Ownership of an apartment or house is assigned to an individual, but common areas (e.g. hallways, heating system, elevators, exterior areas) are controlled by the homeowners' association. Fees are charged to the condo owners for maintenance of the common areas. These are referred to as "condo ...