http://www.nypost.com/p/news/national/highest_us_property_taxes_hit_home_vbL07T6LJwf16vyW3ZY68N "Westchester homeowners are shelling out more in property taxes than residents of any other county in the nation" "The average homeowner in Westchester makes $110,520 per year, and gives a full 8 percent of that to the government for property taxes." "New York and New Jersey are home to the 10 counties... [more]
http://www.nypost.com/p/news/national/highest_us_property_taxes_hit_home_vbL07T6LJwf16vyW3ZY68N
"Westchester homeowners are shelling out more in property taxes than residents of any other county in the nation"
"The average homeowner in Westchester makes $110,520 per year, and gives a full 8 percent of that to the government for property taxes."
"New York and New Jersey are home to the 10 counties with the highest average median property taxes in the nation."
http://www.philly.com/philly/wires/ap/news/state/new_jersey/20090923_ap_njleadsnationinpropertytaxes.html
The Tax Foundation analyzed Census figures and determined Garden State homeowners put 7 percent of their paychecks toward property taxes in 2008
these two news contradicts, one says NY is highest, other says NJ is highest...but anyhow,
just when I started to expand outside of NYC, more specifically at Westchester to buy..(and I shun NJ because of high property tax, but it seems it is even higher in Westchester..)
I can understand that in absolute number ofcourse NY, NJ shells out the most property tax as the median home prices are highest in the nation.. but I didn't know that was so, percentage wise as well? Has this always been the case?
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Response by Riversider
about 16 years ago
Posts: 13572
Member since: Apr 2009
Westchester has the nickname Taxchester
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Response by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008
Hmm.... Why, then, don't you just move to Louisiana, with the lowest property taxes in the country? Maybe because they have very high sales taxes, a very high poverty level, a very high illiteracy rate, a very high rate of people with no health insurance, and they live off the largess of oil revenues?
NYC has low property tax rates b/c it has an income tax.
Could taxes be lower here? Sure. A lot. But there is no correlation between low taxes and wealth; indeed, the wealthier an area is, the higher the tax rates. Italy or Peru: you choose.
"Westchester Agrees to Add Housing in Landmark Settlement
..New York’s Westchester County will make a $51.6 million investment in affordable housing, under an agreement announced by the Department of Housing and Urban Development (HUD) and the Justice Department.
The deal, which settles a three-year lawsuit, is expected to result in the construction of 750 units of affordable housing in overwhelmingly white neighborhoods in the county"
Together with additional inventory coming in to Westchester above, maybe I should just stick to looking at a place in Manhattan, if I am to buy next year? Datas are confusing, Westchester median price has only went down 18% yoy so far.. started to pick up in 2Q of 2009. Rents were relatively stable in Westchester.. Westchester has one of the best schools in the nation... these were all the positives that lured me to look at Westchester, but being dubbed the highest property tax county in the nation.. and with all the aditional inventory.. this is discouraging our venture outside of NYC..
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Response by Riversider
about 16 years ago
Posts: 13572
Member since: Apr 2009
Can't speak for the quality of Westchester's budget, but Moody's & S&P rate Westchester AAA
..and unlike structurd finance, Muni ratings are fairly accurate.
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Response by alanhart
about 16 years ago
Posts: 12397
Member since: Feb 2007
jjun4733, I think you just need to be patient and give other US counties a chance to catch up with Westchester and other nearby NYC suburbs.
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Response by jjun4733
about 16 years ago
Posts: 122
Member since: Nov 2008
darn alan, that doesn't make me feel any better.. I'm sure that entails NY taxes increasing further.
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Response by aboutready
about 16 years ago
Posts: 16354
Member since: Oct 2007
jjun, taxes on the following 4000 sf home in a very decent school district in a very close community are $25k a year. you get 5 bedrooms for that, 3.5 bathrooms. what would the taxes run on a similarly sized property in Manhattan? i'm totally urban, don't drive, but considered pelham when i was thinking about having more children. the kitchen is horrid, though. oh, and it's less than a million dollars.
jjun, taxes on the following 4000 sf home in a very decent school district in a very close community are $25k a year. you get 5 bedrooms for that, 3.5 bathrooms. what would the taxes run on a similarly sized property in Manhattan? i'm totally urban, don't drive, but considered pelham when i was thinking about having more children. the kitchen is horrid, though. oh, and it's less than a million dollars.
most people I know in scarsdale, edgemont, bxville, chappaqua have kids (multiple) and view the taxes as tax deductible tuition. IIRC, at least 50% of the prop tax is the local school tax, the rest is a town tax for other services. when you look at it that way, it's certainly cheaper than private school in nyc. I suspect the taxes are lower in westchester towns that don't have strong local schools (yonkers, white plains?). as with most things, you get what you pay for.
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Response by notadmin
about 16 years ago
Posts: 3835
Member since: Jul 2008
"as with most things, you get what you pay for."
i'm afraid that with the state of the unfunded pension liabilities in ny state and cities... that's not gonna be true for homeowners (with respect to property taxes). either the feds print money to pay for those liabilities or taxes go up. and there's still the possibility of the better organized old people to ask for a prop 13 type and shift the burden to young families. i'm really bullish on property taxes, i would go long if i could.
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Response by MAV
about 16 years ago
Posts: 502
Member since: Sep 2007
Here is a secret: People in Westchester like high taxes. Not only does it go to educate their children (a top priority for most there), but it also keeps out people who do not (or can not afford to) have the same priorities....
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Response by notadmin
about 16 years ago
Posts: 3835
Member since: Jul 2008
"Here is a secret: People in Westchester like high taxes. Not only does it go to educate their children (a top priority for most there), but it also keeps out people who do not (or can not afford to) have the same priorities...."
i believe that. it works till they bring in the projects cause it's just too whitie of a place, for the sake of change lol.
same with public transportation, people consistently voted against it to put a barrier of entry. then you'll have the 90 year old guy (that voted down public transportation back in the day driving). scary!
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Response by aboutready
about 16 years ago
Posts: 16354
Member since: Oct 2007
750 units in Westchester? projects? that's smaller than silver towers, and they can be spread over a huge geographical location.
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Response by The_President
about 16 years ago
Posts: 2412
Member since: Jun 2009
NY and NJ have the highest property taxes in the country? Who wrote this NY Post article? Captain Obvivous?
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Response by The_President
about 16 years ago
Posts: 2412
Member since: Jun 2009
I have a 4,000 square foot house in southern Bergen County. It's a decent sized house, but it's on a tiny lot. Property taxes are about $14,000. My next door neighbor, whose house is newer than mine and is all brick (mine is vinyl) pays roughly $17,000.
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Response by notadmin
about 16 years ago
Posts: 3835
Member since: Jul 2008
aboutready, how are they gonna bring diversity if they stop at 750 non-white families?
btw went the other day to gramercy, and visited PCV, the middle class projects (1st time after 9 years living here!). omg, they are massive! a true city on its own.
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Response by aboutready
about 16 years ago
Posts: 16354
Member since: Oct 2007
they're looking kind of ratty right now also. but it is a really great place for kids and dogs. and i actually saw people who seemed to be working on the lawn situation in a proactive manner the other day. hope lives.
the 750 units thing is a joke. totally.
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Response by The_President
about 16 years ago
Posts: 2412
Member since: Jun 2009
if anyone here is planning on getting one of the 750 "affordbale" units, I would not plan on it. First off, you cannot be white. And you cannot be a high earner. And besides, the units will likely get funneled to ACORN and they will decide which one of their cronies gets a unit.
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Response by notadmin
about 16 years ago
Posts: 3835
Member since: Jul 2008
boy, that's the 10 time i hear ACORN this week. what is that about?
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Response by Riversider
about 16 years ago
Posts: 13572
Member since: Apr 2009
admin, you are kidding right? not up on this week's ACORN headlines?
CNN) -- Community organizing group ACORN, investigated this year for filing fraudulent voter registration forms, has fired two board members it had asked to investigate allegations that an ACORN founder's brother embezzled nearly $1 million.
The fired board members were investigating allegations that money was embezzled from ACORN eight years ago.
An internal document from the ACORN executive board, obtained by CNN, shows that members Karen Inman and Marcel Reid were "removed from any office or committee position you may have held."
A separate document says that "the memberships of Karen Inman and Marcel Reid in ACORN is canceled, and they are removed from the Association Board."
"NYC has low property tax rates b/c it has an income tax."
I disagree: NYC has (realatively) low RESIDENTIAL property taxes because so much of the Real Estate Tax burden is placed on commercial properties, and this is possible because there is so much more commercial property (like all the huge office buildings which you see almost nowhere else) than other places have.
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Response by nyc10022
about 16 years ago
Posts: 9868
Member since: Aug 2008
residential property taxes are also low because income taxes are so high. The city made a conscious decision to promote home ownership and go after the rich with a city tax and lower property taxes.
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Westchester has the nickname Taxchester
Hmm.... Why, then, don't you just move to Louisiana, with the lowest property taxes in the country? Maybe because they have very high sales taxes, a very high poverty level, a very high illiteracy rate, a very high rate of people with no health insurance, and they live off the largess of oil revenues?
NYC has low property tax rates b/c it has an income tax.
Could taxes be lower here? Sure. A lot. But there is no correlation between low taxes and wealth; indeed, the wealthier an area is, the higher the tax rates. Italy or Peru: you choose.
http://www.housingfinance.com/news/ahf/081209-ahf-Westchester-Agrees-to-Add-Housing-in-Landmark-Settlement.htm
"Westchester Agrees to Add Housing in Landmark Settlement
..New York’s Westchester County will make a $51.6 million investment in affordable housing, under an agreement announced by the Department of Housing and Urban Development (HUD) and the Justice Department.
The deal, which settles a three-year lawsuit, is expected to result in the construction of 750 units of affordable housing in overwhelmingly white neighborhoods in the county"
Together with additional inventory coming in to Westchester above, maybe I should just stick to looking at a place in Manhattan, if I am to buy next year? Datas are confusing, Westchester median price has only went down 18% yoy so far.. started to pick up in 2Q of 2009. Rents were relatively stable in Westchester.. Westchester has one of the best schools in the nation... these were all the positives that lured me to look at Westchester, but being dubbed the highest property tax county in the nation.. and with all the aditional inventory.. this is discouraging our venture outside of NYC..
Can't speak for the quality of Westchester's budget, but Moody's & S&P rate Westchester AAA
..and unlike structurd finance, Muni ratings are fairly accurate.
jjun4733, I think you just need to be patient and give other US counties a chance to catch up with Westchester and other nearby NYC suburbs.
darn alan, that doesn't make me feel any better.. I'm sure that entails NY taxes increasing further.
jjun, taxes on the following 4000 sf home in a very decent school district in a very close community are $25k a year. you get 5 bedrooms for that, 3.5 bathrooms. what would the taxes run on a similarly sized property in Manhattan? i'm totally urban, don't drive, but considered pelham when i was thinking about having more children. the kitchen is horrid, though. oh, and it's less than a million dollars.
http://www.realtor.com/realestateandhomes-detail/494-Siwanoy-Pl_Pelham_NY_10803_1112473241
jjun, taxes on the following 4000 sf home in a very decent school district in a very close community are $25k a year. you get 5 bedrooms for that, 3.5 bathrooms. what would the taxes run on a similarly sized property in Manhattan? i'm totally urban, don't drive, but considered pelham when i was thinking about having more children. the kitchen is horrid, though. oh, and it's less than a million dollars.
http://www.realtor.com/realestateandhomes-detail/494-Siwanoy-Pl_Pelham_NY_10803_1112473241
most people I know in scarsdale, edgemont, bxville, chappaqua have kids (multiple) and view the taxes as tax deductible tuition. IIRC, at least 50% of the prop tax is the local school tax, the rest is a town tax for other services. when you look at it that way, it's certainly cheaper than private school in nyc. I suspect the taxes are lower in westchester towns that don't have strong local schools (yonkers, white plains?). as with most things, you get what you pay for.
"as with most things, you get what you pay for."
i'm afraid that with the state of the unfunded pension liabilities in ny state and cities... that's not gonna be true for homeowners (with respect to property taxes). either the feds print money to pay for those liabilities or taxes go up. and there's still the possibility of the better organized old people to ask for a prop 13 type and shift the burden to young families. i'm really bullish on property taxes, i would go long if i could.
Here is a secret: People in Westchester like high taxes. Not only does it go to educate their children (a top priority for most there), but it also keeps out people who do not (or can not afford to) have the same priorities....
"Here is a secret: People in Westchester like high taxes. Not only does it go to educate their children (a top priority for most there), but it also keeps out people who do not (or can not afford to) have the same priorities...."
i believe that. it works till they bring in the projects cause it's just too whitie of a place, for the sake of change lol.
same with public transportation, people consistently voted against it to put a barrier of entry. then you'll have the 90 year old guy (that voted down public transportation back in the day driving). scary!
750 units in Westchester? projects? that's smaller than silver towers, and they can be spread over a huge geographical location.
NY and NJ have the highest property taxes in the country? Who wrote this NY Post article? Captain Obvivous?
I have a 4,000 square foot house in southern Bergen County. It's a decent sized house, but it's on a tiny lot. Property taxes are about $14,000. My next door neighbor, whose house is newer than mine and is all brick (mine is vinyl) pays roughly $17,000.
aboutready, how are they gonna bring diversity if they stop at 750 non-white families?
btw went the other day to gramercy, and visited PCV, the middle class projects (1st time after 9 years living here!). omg, they are massive! a true city on its own.
they're looking kind of ratty right now also. but it is a really great place for kids and dogs. and i actually saw people who seemed to be working on the lawn situation in a proactive manner the other day. hope lives.
the 750 units thing is a joke. totally.
if anyone here is planning on getting one of the 750 "affordbale" units, I would not plan on it. First off, you cannot be white. And you cannot be a high earner. And besides, the units will likely get funneled to ACORN and they will decide which one of their cronies gets a unit.
boy, that's the 10 time i hear ACORN this week. what is that about?
admin, you are kidding right? not up on this week's ACORN headlines?
Meet ACORN:
http://www.youtube.com/watch?v=LtTnizEnC1U
Or if you want to learn more about ACORN, just watch Gleen Beck tonight at 5 on Fox News. 99% of his show is devoted to ACORN:
http://www.youtube.com/watch?v=ZvcZZf4OtYI&feature=related
maybe redbaiter will appear tonight with his idol, glenn beck--and we can have a night off
my favorite, from Right Wing news site CNN
Let's not just allow corruption, Let's fire anyone who investigates it!!
http://www.cnn.com/2008/POLITICS/11/13/acorn.investigation/index.html?iref=newssearch
CNN) -- Community organizing group ACORN, investigated this year for filing fraudulent voter registration forms, has fired two board members it had asked to investigate allegations that an ACORN founder's brother embezzled nearly $1 million.
The fired board members were investigating allegations that money was embezzled from ACORN eight years ago.
An internal document from the ACORN executive board, obtained by CNN, shows that members Karen Inman and Marcel Reid were "removed from any office or committee position you may have held."
A separate document says that "the memberships of Karen Inman and Marcel Reid in ACORN is canceled, and they are removed from the Association Board."
BOTTOMS UP!
http://www.youtube.com/watch?v=-OzIMHowtL8
THE FRENCHIE IS BOTTOMS
"NYC has low property tax rates b/c it has an income tax."
I disagree: NYC has (realatively) low RESIDENTIAL property taxes because so much of the Real Estate Tax burden is placed on commercial properties, and this is possible because there is so much more commercial property (like all the huge office buildings which you see almost nowhere else) than other places have.
residential property taxes are also low because income taxes are so high. The city made a conscious decision to promote home ownership and go after the rich with a city tax and lower property taxes.
ACORN!
Advice on Whore House set up...
let's just say DE BE DA SHA'NIZL!