Posted on 01/16/2016 8:44:15 AM PST by samtheman
For the first time ever, the total assessed value of Big Apple properties has topped $1 trillion
(Excerpt) Read more at nypost.com ...
Never underestimate the ability of government to get the best taxation value for its oppression.
>>An interesting twist on the NY values kerfuffle.
It is unwise to equate property values with values.
Higher assessments mean higher taxes — and the average bill for single-family homes is expected to go up $187 to $5,138.
I am not equating them.
Yes
“the total assessed value of Big Apple properties”
The key word here is “assessed”.
I’m sure the NYC Department of Finance has no interest in
artificially inflating the value for higher tax revenue.
Another definition of “New York values”. Higher prices
attract morons.
I used to live in probably the most prestigious county in Georgia. Property values through the roof and a frigging country government bureaucracy to match. They contracted out EVERY function that required work, but kept the County employees to ‘oversee’ it.
Property value assessments were contracted out to commercial companies and they were vicious. You had to be on your toes to refute them.
I now live in a county far northward where my property taxes (and assessed value) haven’t risen one penny the entire time Obama has been in office.
>>I am not equating them.
Then why is this an interesting twist on the NY values kerfluffle?
I agree. Assessment scam. The only reason I posted the article was to try to lighten up the whole NY values thing. Misguided on my part. I am just sad that Trump and Cruz appear to be on a major war path. I was sincerely hoping they would be allies.
So much for people fleeing NYC! In fact, the real estate market is out of control. When I think my parents had the opportunity to buy their one bedroom apartment on the upper east side for something like $20,000! I could sit down and cry, lol.
See my post 11. Please do not try to get in a big fight with me over this posting. There are enough molehills-to-mountains on this subject already.
Faux news had a item/session on how foreign buyers were buying expensive properties with no identification of the buyer. They hinted that these new unknown buyers were getting some sweet heart deal re lower property taxes not based on the purchase price.
For over 3 years, foreign home buyers have been paying cash for estates and nice homes in nice Californicator land. Areas like the luxury coastal areas around LA, San Diego, Santa Barbara, Silycon valley, the bay area and the wino counties north and east of Gay Frisco.
interesting
“Higher assessments mean higher taxes — and the average bill for single-family homes is expected to go up $187 to $5,138.”
Still less then New Jersey’s average....
$8,161 year
This somehow runs counter to the government economists' insistence that there is NO INFLATION! Which universe are they living in?
I have a friend in Ridgewood, NJ, that pays over $14,000 in property taxes for a similar home to mine in Colorado and I pay less than $3,000. No one should ever pay taxes on property, however.
OK. Post 11 explained it. Thanks
Well, true. But it is amazing what people will pay to live here. And it’s rare to lose money in the real estate business in NYC. (Although I could manage to do it!)
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