I like it when there is a lot of magic, but it's very subtle. So not wizards throwing fireballs, but the forests of filled with spirits, and maybe the voices of the dead can still be heard.
I also like magic that is so abundant the world looks nothing like our own, where there are trains powered by ghosts and wizards rule as kings and queens.
So long as there isn't overwhelming magic everywhere, yet the world looks remarkably like our own, I'm good. Thinking about it, this may be why I don't like much Urban Fantasy.