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Yes looking to do something similar to your 4th avenue posting. At first I didn't think the prop tx would increase by much, but now I agree that the hit may be substantial. Only one way to find out for sure though and thats to get plans done and assessed.
Your taxes will go up. We live in Smithtown and added a second floor ~10 years today and our taxes more than doubled, even though we didn't double our square footage. The town's answer to the "how? & why?" question was that we were not paying enough taxes to begin with. Go figure.
Anyway, we may be unique in the level of tax increase, but adding the extra space may be cheaper than buying another house in the long run, especially if you've already made improvements, like where you live, etc. You'll pay higher taxes for a bigger home wherever you are in Smithtown.
Currently own a home (cape) with 3 bedrooms and 1 full bath on the 2nd floor. We have a Gabled roof so we have a ton of angled rooms. We plan on raising the roof and pushing the 2nd floor walls in line with the 1st floor (not increasing footprint of the house). If we keep 3 bedrooms and 1 full bath on the 2nd floor will property tax increase or stay the same ??
You can volunteer to sit in the high school parking lot with narcan and get a substantial DISCOUNT on your taxes to offset the addition.
Your prop taxes will increase substantially. Any increase of 'conditioned' sq footage will result in a sizeable increase. Smithtown is really brutal when it comes to renovations like this. Litmus test is to check tax assessments on homes that have had similar work done. In my neighborhood, that meant a forty-year old expanded contemporary--on a .25 acre lot--with a $21k property tax bill.
And remember, if you're lucky enough to see 'only' a real increase of $500, that's a $500 increase in perpetuity. Over 10 years, you'll pay over $5k for said improvement.
Your prop taxes will increase substantially. Any increase of 'conditioned' sq footage will result in a sizeable increase. Smithtown is really brutal when it comes to renovations like this. Litmus test is to check tax assessments on homes that have had similar work done. In my neighborhood, that meant a forty-year old expanded contemporary--on a .25 acre lot--with a $21k property tax bill.
And remember, if you're lucky enough to see 'only' a real increase of $500, that's a $500 increase in perpetuity. Over 10 years, you'll pay over $5k for said improvement.
Horrible.
Mommylawn is an awesome name...so I'm guessing you don't do Brazilian, huh?
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