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Here is my question, Does the huge increase in property taxes year after year scare you?
I've lived in Nassau for 10+ yrs. My r/e taxes goes up about inflation. lowest year is was 0.86% . Highest year was 8.5%....all the other years....2.84% on average. Same with homeowners insurance. Yes, I looked it up my personal spreadsheet. This assume you will not do something like house extension or some massive renovation. I am sure others have diff. amount of increases....but I am just sharing mines.
As a homeowner, I seem to spend a few grand every year to fix something. now THAT scares me......oh your central a/c is gone...10 grand here, 10 grand there. Just have $$ set aside for that.
For our family, the math indicated a significant savings in moving to Nassau County. Our combined City tax was just over $10 grand, cost of private schooling that could deliver a teacher to student ratio, education and facilities on par with Nassau County ranged from $7-$12 grand per child.
Our area has a sizeable commercial base which helps offset taxes, we pay just south of $10 grand for a 1900 sqft home. I'm VERY happy we moved, the sense of community (can only speak for Carle Place), security and peace is unparalleled to anywhere else I've ever lived (Bayside, Park Slope, Astoria). I'm happy we set down roots here and am confident that the area will continue to maintain so long as the NYC economy remains solid.
^^accrd to some handout in my area about 6-7 years ago, they claimed my area spends close 30 grand per child in public school compared to 8500 per kid for nyc. I am not implying money buys a better education but that is food for thought.
also to put into consideration, my auto insurance plummeted when I moved from nyc to nassau
also to put into consideration, my auto insurance plummeted when I moved from nyc to nassau
I remember when friends from college who live in nyc would ask if they could use my [parents] address for their auto insurance for that reason. What's ironic is they never even drive their cars out there. Maybe once a week, if that.
The taxes are scary because salaries and benefits -- including rich retirement packages -- for public school administrators, teachers and cops are ticking time bombs. Things will get much worse before they get better. Add to that two county governments that are corrupt and incompetent and you have a recipe for disaster. I don't know of anyone who says Nassau County has a bright future. Those of us who have to stay here for employment or other reasons just strap on our seat belts and hope for the best.
Agreed that the situation with government salaries in Nassau is deplorable. It's just incredible what these people pay themselves at the public's expense. Incredibly incredible.
But regarding the return on selling a house in the future, I think the prospects are decent. There seems to be a trend for affluent East Asian (Chinese and Korean) moving out of the City and into the Nassau towns. They're buying properties, and they tend to really focus on their kids' education. That helps the Nassau schools' standardized test scores, which helps their ratings. Which in turn makes properties within those districts more desirable.
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