What is the average property tax amount on LI? (Garden City: foreclosed, lease)
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What happens when the average is $20K? If not for the tax cap I think we'd be there already. How is this sustainable when jobs are disappearing on LI?
Oh, I don't think it's sustainable. I am not a tax apologist and feel that you get very poor services supporting a crumbling infrastructure for your tax bill.
Hospital jobs, union building trades jobs, teachers, police, accountants, scientists, engineers, pilots, etc. many jobs out here and in nyc metro area pay 60k+ easily.
The key is "NYC metro area". I'm not aware of too many openings for engineers, pilots and scientists on LI - certainly not out of proportion to a population of around 4 million in Nassau/Suffolk.
And with StartupNY generating less than 100 jobs despite hundreds of millions spent and tax concessions given it's clear that the program is a failure.
Good question - you'll have people leaving but will there be as many coming in as there still are now? Everyone's looking for decent housing in good school districts especially in the $400-$600k range - are they willing to pay $25k to go with it? Probably, just not as many. I don't think that is enough to change how things work around here though. There are ways to bring in additional revenue for the towns/county, but how do you do that with the school tax portion which is the bigger factor?
Good question - you'll have people leaving but will there be as many coming in as there still are now? Everyone's looking for decent housing in good school districts especially in the $400-$600k range - are they willing to pay $25k to go with it? Probably, just not as many. I don't think that is enough to change how things work around here though. There are ways to bring in additional revenue for the towns/county, but how do you do that with the school tax portion which is the bigger factor?
Extend the California model - increase sales tax to 9-10%, create an income tax for Nassau and Suffolk (1-2%) and add in a bunch of other surcharges and fees. Done and done.
If taxes go up to 25K for an average house in Nassau it just means home prices will fall. Folks will pay it and if they cant they sell the home at a cheaper price to make up for the higher taxes
If taxes go up to 25K for an average house in Nassau it just means home prices will fall. Folks will pay it and if they cant they sell the home at a cheaper price to make up for the higher taxes
I think it depends on the school district. But to back up your point...we were interested in a home that would've fit our needs perfectly. Asking price was $649, taxes were $23k. We weren't going to pay that, in hopes we could possibly win a grievance (that's never guaranteed), when the other homes were paying $16k in taxes. Long story short, they've dropped the price by $100k to make up for those taxes.
I think it depends on the school district. But to back up your point...we were interested in a home that would've fit our needs perfectly. Asking price was $649, taxes were $23k. We weren't going to pay that, in hopes we could possibly win a grievance (that's never guaranteed), when the other homes were paying $16k in taxes. Long story short, they've dropped the price by $100k to make up for those taxes.
You still should've moved down to NC or SC like you planned. Lol.
It would have saved 200k in home price, and 22k a year in taxes.
Extend the California model - increase sales tax to 9-10%, create an income tax for Nassau and Suffolk (1-2%) and add in a bunch of other surcharges and fees. Done and done.
People won't put up with that on top of already high taxes. Plus even the wealthiest, best schools in California don't have bus service and they are funded like private schools by the people who use them. That's not going to fly here when the tax bill is already so high. My friend lives in Hillsborough, CA in a house they paid $4 million for and their taxes are ridiculously low for that price. The same house in a comparable area of Long Island would have taxes of $60K.
But - they have no bus service and they fund everything out of pocket.
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