Here is a little help for your "homework". I am not sure exactly what I pay in tax, but I think it is around 2 or 3 hundred US - my bills are in Belize and I am not. If that condo was almost anywhere else, the tax would be 5 to 10 thousand US. So if I were to pay 1500US multiply that times the number of condos on the island assuming mine would be close to average in value and see what that amounts to - just out of curiosity.