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So now my concern is why would a builder leave one wall standing ? Is it a savings for the builder ? Should we be concerned about leaks and so forth from this one wall ?
One wall standing is figurative, not necessarily literal at this point in time. Before the towns got wise, a lot of people would leave one wall -- many times the one with a chimney or fireplace on it -- standing. Nowadays they don't have to do that to circumvent the old law.
If you're buying the house from the builder, ask for some sort of guarantee in writing.
As for potential issues with the 'one wall'? If that wall is leaking, I would worry about everything else they built and how it was tied together.
so heres the question........what justifiable reason can a town use to charge a home owner in a new construction home more money in taxes than an identical or silimar sized home that was built 30 years ago????
so heres the question........what justifiable reason can a town use to charge a home owner in a new construction home more money in taxes than an identical or silimar sized home that was built 30 years ago????
Taxes on a new home are based on it's value at the time it was built. (Think about the cost of labor and material in 2014 as opposed to 1984 or earlier.) Most of these new builds have features which someone with a 30+ years old house wouldn't have had at the time of the build.
Theoretically, the 30+ homeowner would have to open a permit to add those features and that in turn would increase the home's value which would then be reflected by an increase in their taxes. A fair number of people move forward with these smaller scale improvements without seeking a permit in order to keep their taxes down.
Also older homes lots of mistakes in calculation sq footage or things not listed.
Near me homes are no longer allowed to have basements or even below grade areas due to flood zones.
Many old splits near me have fist level only like six 12 inches below grade. One step down. Yet for tax purposes that is counted as a basements.
Nassau Countys insane tax system of taxing new consturction very high may be a curse to some folks rebuilding after Sandy new homes. In order to save 5k a year on flood insurance you build a brand new home elevated only to find out taxes are 10K a year higher.
Taxes on a new home are based on it's value at the time it was built. (Think about the cost of labor and material in 2014 as opposed to 1984 or earlier.) Most of these new builds have features which someone with a 30+ years old house wouldn't have had at the time of the build.
Theoretically, the 30+ homeowner would have to open a permit to add those features and that in turn would increase the home's value which would then be reflected by an increase in their taxes. A fair number of people move forward with these smaller scale improvements without seeking a permit in order to keep their taxes down.
but how is that relevant? If thats the case, the 30+ year old home would be taxed at half that of a new home.
Both homes TODAY have the same value. If the 30+ year old home was the same style house as the new construction ( for agument sake, just say they are identical in build and sq footage ), they would basicly sell at the same price. So long as the 30+ year old home wasnt too outdated.
That being said, are you saying to update a home and keep the value on par with a new construction home, one needs to seek permits for upgrading counter tops, cabiinets, bathroom fixtures, wood floors and driveways?
Or am i missing something here.... The reason I ask is bc people seem to say that new construction taxes are MUCH higher than build a preexisting home.
but how is that relevant? If thats the case, the 30+ year old home would be taxed at half that of a new home.
Both homes TODAY have the same value. If the 30+ year old home was the same style house as the new construction ( for agument sake, just say they are identical in build and sq footage ), they would basicly sell at the same price. So long as the 30+ year old home wasnt too outdated.
That being said, are you saying to update a home and keep the value on par with a new construction home, one needs to seek permits for upgrading counter tops, cabiinets, bathroom fixtures, wood floors and driveways?
Or am i missing something here.... The reason I ask is bc people seem to say that new construction taxes are MUCH higher than build a preexisting home.
Today they might have the same value IF they are the same feature for feature in the same area. AND if they are the same feature for feature, size, etc, in the same area, AND have had all the proper permits opened for updates and upgrades, the taxes should be comparable.
A tale of two homes:
My house and the house across the road were built in the late 1920's. The other house's taxes were less than mine as the house had been owned by the same people since the 1950's.
We gutted the interior of our house to bring it to code, replaced the roof, added a modest kitchen. When we needed space, we built a small addition. 3BRs, 2.5 baths, EIK, LR, partial finished basement. We added a detached 3 car garage. My taxes are in the almost $10K range.
Across the street, the little house was sold and the new owner decided to blow out the house. It is easily double the size of the old house -- it went from 1.5 stories to a looming 2 story Fauxlonial with a finished basement and attached 2 car garage. 2 AC and gas heat units, 5 bedrooms, EIK & FDR, a parlor and FLR. I believe it is 3 or 3.5 bathrooms. He flipped it and the new owner paid $17K taxes about 5 years ago.
Why should I be paying the same amount in taxes as the person who has more living space, and potential to expand into the garage for even more living space? We both upgraded our homes, the other one moreso. Meanwhile, my next door neighbor, also a modest home smaller than mine, 3BR 2 bath,EIK, LR, attached garage, pays $3K less than me. He has owned longer and hasn't added on.
The improvements are what brings up the taxes on the teardown and on the upgraded home. If everyone kept their mid century homes basic, they would only see tax increases based upon the value of the home when they bought it.
This house was a old house with 8k tax, someone knocked down and built this mcmansion. BTW it has Oceanside Schools.
Taxes are 33,693 now but the school tax calculator on line has them rising to 36K a year soon.
People sometimes look for old large estate sale homes that need work and get them at a good price, then do work with no permits in order to keep low taxes.
As long as you did not add a bathroom, expand sq footage etc just renovating for most part no permits are fine.
Those houses when later sold go for a lot as they have 1/2 the taxes of simlar new homes.
Now compare same house above to an even larger home at 3070 Ellen Terry Drive in Oceanside that is 100 years old and 5,000 square feet insidie on a 100x100 lot. It has 16k in taxes.
Almost 20k less taxes than the newer house that is slightly smaller and in same school district.
Could there be a bias against the fair market value of an older home? Do people consider new to be better when it comes to buying a home?
Some buyers consider new better unless they are skilled at making repairs, and have the additional funds for alterations, upgrades, or replacing dated systems. As Long Island is nearing being built out, opportunities for brand spanking new are limited, which is why some folks will consider a tear down or a house which has been considerably rebuilt.
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