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Hello All,
I am considering a move to Nassau County with my family- specifically Rockville Centre or Garden City(Both good commute to NYC and nice areas). Here is my question, Does the huge increase in property taxes year after year scare you? When I look at homes I cant believe the increase from 2007 until now. Any property values have gone down. I almost feel like its going to force a lot of people to move off LI.
My other question is this- What are your thoughts on Nassau county in general, Is it on the decline or steady? Most of the houses we look at are older and will need work but I can with that live with that if the area stays strong.
Of course the tax situation is scary - especially in higher end towns like you are looking at. Especially villages, which add another layer of government (read: taxation) onto the burden.
I think the taxes on my house in Garden City were $10K in 2007, they are now $15K. Honestly when we did the math on stay vs. go we figured that our taxes might be $17,500 by the time our youngest graduated from high school. Well, she's still 8 years away from that milestone and as you can see we were way, way off - they will be way over $20K by then and it's a 1600 square foot house. Glad "go" won as we mulled over that decision!
Then add in the vortexes, and well - you've got problems.
Hello All,
I am considering a move to Nassau County with my family- specifically Rockville Centre or Garden City(Both good commute to NYC and nice areas). Here is my question, Does the huge increase in property taxes year after year scare you? When I look at homes I cant believe the increase from 2007 until now. Any property values have gone down. I almost feel like its going to force a lot of people to move off LI.
My other question is this- What are your thoughts on Nassau county in general, Is it on the decline or steady? Most of the houses we look at are older and will need work but I can with that live with that if the area stays strong.
Thank you
In general Nassau County will always be in high demand because there are millions of people (like yourself) who want to live in suburbia and be relatively close to NYC. This doesn't mean that real estate values will never go down. The market operates in cycles and real estate is a long term investment.
In my experience the constantly rising property taxes were merely an irritation when I was working and making a decent salary. Now that I am retired they are a major concern, and I do not plan to be here much longer.
Sure the taxes are scarey. They keep creeping up, especially the school tax. Nassau County does have excellent school districts, some stronger than others, but we pay the price. I have children in the school district so feel we are getting something in return. However, on a retirement fixed income, it would be very difficult to stay here.
I just mentioned tonight that I hope my son doesn't stay here after college. It is fine for while I am working, but not for retirement. Of course I am putting him in prek next year so I have awhile to wait.
I have only been living here five months, and of course you always worry when you buy that prices will go down. However, I really think that there will always be people willing to live here who want to work in NYC. I don't expect the value to go up like it has in past areas I bought, but I would be happy if it stayed somewhere within a reasonable amount of what I paid. Good luck with your decision.
I think taxes are insane in nassau county but my mortgage and taxes are still cheaper than the rent I was paying and I get a tax break on the interest. I understand as my mortgage matures I will get less of a break and in 20 years taxes may be double but everything is circumstantial. If i relocated personally, my salary wouldn't be the same but my cost of living would also go down. My family lives locally and the schools are great. I've known people who stayed and left and you do what's best for your situation. Our taxes will always go up though because we have a broken system that we continue to throw money at.
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.
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