Posted on 04/23/2017 8:38:16 AM PDT by Kid Shelleen
This year Mayor de Blasio will pay $3,581 in property taxes on each of two row houses he owns in ultra-gentrified Park Slope. The city says his properties are worth about $1.6 million apiece.
Some 14 miles away, in middle-class Laurelton, Queens, Arthur Russell, 66, who retired from computer sales, will pay a property tax bill that, at $4,569, is about 28% higher than the mayor’s — even though the city says his single-family home is worth 75% less than de Blasio’s properties, at $396,000.
(Excerpt) Read more at nydailynews.com ...
I pay more than Warren on my single family house in the west....
New York law (I don't know if it city or state) limits the appraised property value increase for one- to three- family homes to 6% per year and 20% per five years (3.7% average per year). If you remodel or live in a neighborhood with rapidly increasing property values your house can increase a lot faster than that.
The explanation is about 2/3 of the way into the article rather than near the beginning. Although not lying by omission, it was certainly deceiving by omission. It's like writing an article about houses unexpectedly exploding killing people and asking why the government didn't do anything to prevent it and then mentioning the tornado in paragraph 30.
2%?
I have one of those houses. My taxes per month are what one of may daughters paid for rent on a 2 bedroom apartment.
NYC or any other US city doesn’t tax based on race.
Worst part is, as far as NYS goes, new buyers /title holders are really, really screwed since changes to the STAR program means new title holders have to float the state a loan. Instead of a school tax discount, it’s now a “rebate”. Snort. Move to NYS at your peril.
About the 5th of never!
I am happy with our tax structure in Fl but always worry about the number moving in from the north east who are happy to be gone from there and need to remake here as it was where they were.
That's the total, so all the school levies and those misc. things are lumped in. We did do the homestead bit, but that only takes $50K off the valuation.
Are talking about central southern tier of NYS...around Bingotown?
“The neighborhood receives nothing back for their yearly payments.”
Nothing? How much of the property tax goes to local schools? Who are the county and state reps? Roads are usually funded jointly between local, county & state sources, but the paving priorities are usually set about the local level, by the county & state. At least here.
New buyers in CA are in for a shock too since the property taxes are kept so low there because of Prop 13. When my MIL died there back in 2011 she left the house to my wife, and prop 13 remained in effect. We lived there for a couple of years and the last year there the property taxes were $3,604. Not bad for a 3 bed 2 bath place right in Hollywood.
I just looked it up on RealityTrac.com and the property taxes for the new owners in 2015 were $17,047!
“Nothing? How much of the property tax goes to local schools? “
I don’t think there are two school aged kids anywhere on her street. They are either young climbers, who may opt for kids much later, or old retired people. (I see this as a huge American problem. People opt for money and lifestyle over kids. The late-thirties couple next door has three performance luxury cars, one with five hundred horsepower. No kids.) But, yes, I take your point.
In answer about NYC taxes. When we moved to Long Island our tax burden increased as our combined income abd property tax was lower than our Long Island property tax. Since most of that tax went to schools we felt it was worth it. As NYC teachers we didnt want our daughter in NYC schools and the cost of Catholic School was high. Since they had moremoney the LI schools must be better. Mistake. After sending our daughter to the locals schools from 3rd to 8th we felt it necessary to send her to Catholic Hs despite the extra cost.
As a TRUE socialist, is he and the missus willing to share the homes, as the socialist say we must SHARE? hmmmmm?
The lesser neighborhoods have more voters, I guess.
Here in NJ we have the highest property taxes in the nation (again), and little to show for it. So much revenue has to be used to pay people who retired decades ago...
As I understand it, that was an unintended consequence of Prop 13. A neighborhood would have low taxes, and because of the constant demands of the public employees’ unions the taxes wouldn’t cover those salaries plus other items - so everything else suffered. As people in that neighborhood died/moved on, anyone looking at buying that home would have much higher taxes than the remaining people, so they’d simply move down the road a bit and a new town would start. The old one gradually crumbled, and the process would repeat itself (because there is no shortage of land).
Anyway, that is how a Californian explained it to me. A similar dynamic is at work here in NJ, where Gov. Christie has capped increases at 2%. When the unions get 4%, everything else gets cut back...
Already the case here in NJ, and as I understand it CA as well; an acquaintance retired at 46 after 25 years as a local cop, and we’ll be supporting his arse (statistically) for even longer than that - with health benefits and all.
Nobody wants homes in NJ now because they know they are just being farmed by our government worker caste to provide an upper-middle class living to these people.
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