TAXES TAXES TAXES Need I say more? (apartment, renters)

[ClarkStreetKid]

Originally Posted by I_Love_LI_but

That depends where the parents' home is located and whether or not their local municipality will allow it. You cannot always convert a single family home to a multi-family home on LI just because you want to. The zoning must be there.

OKAY ... I re-read your post and read your subsequent posts, and it appears you are not talking about turning homes into multi-family homes, but adding extensions onto homes that do not include separate facilities so families can live completely together and share everything. Frankly, if I want to live that way, I will move to India, where it is still the custom.

I don't think it's a bad idea. My friend's house in a really nice part of Huntington had a nice setup where his grandparents had their own "wing" (bedroom, bath and small kitchen for breakfast and lunch) and they shared the rest of the house. I wish when I had my current house built that I did something similar for my parents.

[JustBored]

Why can't we just stop issuing pensions for new employees, and raise salaries ???

I Mean after someone "retires" they get paid I think the 3/4ths of the average of their last 3 years salary for LIFE. they retire in 20-25 Years? (so lets say you join up at 25), they retire at 50.. They live till 90.. You are paying them for 40 more years and they only worked half of it!!

Something should be done about that.

[Kbinspections]

Originally Posted by JustBored

Why can't we just stop issuing pensions for new employees, and raise salaries ???

I Mean after someone "retires" they get paid I think the 3/4ths of the average of their last 3 years salary for LIFE. they retire in 20-25 Years? (so lets say you join up at 25), they retire at 50.. They live till 90.. You are paying them for 40 more years and they only worked half of it!!

Something should be done about that.

Your numbers are WAY off but they are working on reducing, not eliminating, pension benefits. There are now 4 tiers of benefits and they are looking to add a 5th......each new tier has less benefits.

[JustBored]

how off base?

So if I made 75k a year for the past 30 years, Id be getting 50k or so a year for life after I retire no?

They have to fix the pension system, it is no longer affordable, sure it was great back then when it was first developed, but people are living 15+ years longer..

And if you think taxes NOW are bad, did you know in the 80's income tax was pretty much double what is was today or something like that??

[Kbinspections]

Originally Posted by JustBored

how off base?

So if I made 75k a year for the past 30 years, Id be getting 50k or so a year for life after I retire no?

They have to fix the pension system, it is no longer affordable, sure it was great back then when it was first developed, but people are living 15+ years longer..

And if you think taxes NOW are bad, did you know in the 80's income tax was pretty much double what is was today or something like that??

No its more like 30-35% of the final salary....at least for tier 4 employees so if your making 75k you would get $22,500

[JustBored]

Originally Posted by Kbinspections

No its more like 30-35% of the final salary....at least for tier 4 employees so if your making 75k you would get $22,500

What about tier 1, 2, 3 ?
How do they determine which tier you are in, is it by years served?

[Kbinspections]

Originally Posted by JustBored

What about tier 1, 2, 3 ?
How do they determine which tier you are in, is it by years served?

Tiers are determined by hire date.......

I do not know about tier 1,2 or 3. They are closed out. Tier 1 employees are orginal to the sytem and I think they will all be retired by 2012. These are ther people you hear about in Newsday that have crazy benefits. Tier 2 only lasted a few years and then tier 3 lasted untill the mid 1980's. All current teachers are tier 4. They are talking about creating a tier 5. Each tier reduced the benefits the employee would get....

[TristansMommy]

Originally Posted by iluvmycuties

Very true Walter, very true. It is happening. Which illustrates how hectic it would become if we consolidated. Thanks for pointing that out.

And you forgot to mention Walter how so many of these two family homes are being taxed as single; however, everyone in that home is entitled to go to school.

yes.. but those homes are then ILLEGALLY two family homes..

And.. it will only be allowed to be LEGAL if the town zoning will allow for it. If it causes school problems.. then it won't be allowed.

If you ahve a two family home.. that really fits two familiues.. not just an apartmetn in a hidden basement (which is unsafe esp with families with children) you can't really hide it..

Oh.. and lets not forget how LI will then start looking like Queens.. eww.. enough reason to leave LI right there

[JustBored]

Originally Posted by Kbinspections

Tiers are determined by hire date.......

I do not know about tier 1,2 or 3. They are closed out. Tier 1 employees are orginal to the sytem and I think they will all be retired by 2012. These are ther people you hear about in Newsday that have crazy benefits. Tier 2 only lasted a few years and then tier 3 lasted untill the mid 1980's. All current teachers are tier 4. They are talking about creating a tier 5. Each tier reduced the benefits the employee would get....

2012.. Live for 20+ more years.. That's at least 20+ more years of high taxes, and by the time 20+ years comes along and all those people get off the books.. They'll need the money for something else..

[iluvmycuties]

I'm not sure how to read your tone regarding LI looking like Queens...sarcastic, serious? You tell me. Difficult to set tone through a computer sometimes.

There are tons of illegal two families on the island. And I'm not speaking of basements. I actually mean two, full above ground, living quarters.

Across the street from my parents, a developer built a "single" family dwelling, with four entrances. First floor had a 2 bedroom, 2nd floor had a 3 bedroom, and the basement (with 9' ceilings and egress windows galore) was a 2 or 3 bedroom as well. Cars were parked all over the place (blocking my parents' driveway, other neighbors' etc. The town was called and did nothing. Illegal apartments have become so prevalent that the towns cannot keep up with it anymore. Once the other neighbors saw what a nice income the homeowner was bringing in, the next door neighbor put in a basement apartment (rented to a couple), and built an outside entrance to her second floor for another couple. Then the OTHER next door neighbor did it, basement and second floor rentals. I cannot even remember how many children were enrolled into the district while living in these rentals. My parents finally moved out.

The bottom line is that the town officials cannot keep up with the continuous illegal rentals.