Rocky Point Taxes Question (New York, Brookhaven: insurance, houses, assess)

[LianaJoFPB]

Hello everyone,

So I'm continuing my research on Rocky Point, and am very enthusiastic so far.

My question is about Magnolia Drive....

I've seen some listings there, and it appears, based on the maps, that Magnolia Drive is closer to the water.

A particular listing I'm looking at shows taxes at about 1200.

The average I've seen, is 4000-5000.

Why would taxes be so low?

Yes, the place is a fixer-upper, but I've seen fixer uppers, in non-water areas, with higher taxes.

Can anyone explain?

Thanks a lot!

Looking forward to coming home to the Island.

[Crookhaven]

Its a great town, you'll love it here.

I'd imagine its a smaller home that hasnt been assesed in a while.

I think your spot on around 4-5k in in North Shore Beach.

You'll be reassessed when you buy.

Actually Taxes over here are lower due to the fact that the plots are made up of Multiple 20ft lots that have been tied together

Heres some history for you,
North Shore Beach Property Owners Association of Rocky Point, New York

Best

crookhaven

Originally Posted by LianaJoFPB

Hello everyone,

So I'm continuing my research on Rocky Point, and am very enthusiastic so far.

My question is about Magnolia Drive....

I've seen some listings there, and it appears, based on the maps, that Magnolia Drive is closer to the water.

A particular listing I'm looking at shows taxes at about 1200.

The average I've seen, is 4000-5000.

Why would taxes be so low?

Yes, the place is a fixer-upper, but I've seen fixer uppers, in non-water areas, with higher taxes.

Can anyone explain?

Thanks a lot!

Looking forward to coming home to the Island.

[rockypointny]

Originally Posted by LianaJoFPB

Hello everyone,

So I'm continuing my research on Rocky Point, and am very enthusiastic so far.

My question is about Magnolia Drive....

I've seen some listings there, and it appears, based on the maps, that Magnolia Drive is closer to the water.

A particular listing I'm looking at shows taxes at about 1200.

The average I've seen, is 4000-5000.

Why would taxes be so low?

Yes, the place is a fixer-upper, but I've seen fixer uppers, in non-water areas, with higher taxes.

Can anyone explain?

Thanks a lot!

Looking forward to coming home to the Island.

I live close to Magnolia and it seems the taxes on homes in the area can vary greatly. For instance, the house across the street from me (updated, 80x100 lot) still pays only 2500 after being sold twice, while the house next door is paying close to 10k on the same sized lot. They are about the same size, granted the one with higher taxes is only 7 years old. The taxes on our house (1500 square, built in 1987, 100x100) are 6k. It appears some older homes can slip through the cracks with low taxes despite what the surrounding homes are paying.

[Crookhaven]

Originally Posted by rockypointny

I live close to Magnolia and it seems the taxes on homes in the area can vary greatly. For instance, the house across the street from me (updated, 80x100 lot) still pays only 2500 after being sold twice, while the house next door is paying close to 10k on the same sized lot. They are about the same size, granted the one with higher taxes is only 7 years old. The taxes on our house (1500 square, built in 1987, 100x100) are 6k. It appears some older homes can slip through the cracks with low taxes despite what the surrounding homes are paying.

Newer construction is murder around here but there are some good bargains in the hills of Rocky Point.

Thats why smart money will buy a bungalow, tear down all but one wall and add a 3000 sft "extension" to avoid the deadly New Construction taxes.

Theres some fantastic and creative stuff being built it hills right now.

I love it.
crookhaven

[OhBeeHave]

Originally Posted by Crookhaven

Newer construction is murder around here but there are some good bargains in the hills of Rocky Point.

Thats why smart money will buy a bungalow, tear down all but one wall and add a 3000 sft "extension" to avoid the deadly New Construction taxes.

Theres some fantastic and creative stuff being built it hills right now.

I love it.
crookhaven

The one wall rule is history. New building law in Brookhaven is anything over 50% will be considered 'new construction'. Also, the town bumps your taxes up when you open a building permit. This has been in place for a while now. They changed it because too many people were leaving their permits open -- renewing as opposed to going for the CO -- in order to avoid their taxes increasing. The town of Brookhaven got wise to this.

Just a word of warning to my friends in Brookhaven.

I wanted to ask -- the new stuff -- is it changing the town's appearance much? I loved RP in that some of the homes were so funky and the buildings diverse.

[LianaJoFPB]

Originally Posted by rockypointny

I live close to Magnolia......

On a tangent.... is there flooding in the Rocky Point area?

I'm not concerned about flooding from the sound, as the houses appear high up in the hills/bluffs...

My concern was from rain, running down all those hills.

Is it tough to get home owner's insurance here?

Thanks!

[Crookhaven]

not at all

I don't cary flood

[alexei27]

Originally Posted by LianaJoFPB

On a tangent.... is there flooding in the Rocky Point area?

I'm not concerned about flooding from the sound, as the houses appear high up in the hills/bluffs...

My concern was from rain, running down all those hills.

Is it tough to get home owner's insurance here?

Thanks!

If you buy a house at the bottom of a hill with no storm drains...you'll probably have your yard flooded a few times a year. this happens on the west side along the Sound Beach border. There are a few homes that are carved into the side of hills with retaining walls 20 ft high. I'd get flood ins if I were them.

You won't get flooded from the sound...there about 150 ft of dunes/cliffs there.

We went through about 6 ins companies before finding one who will write for Suffolk. Many have pulled out due to the hurricane threat. As a meteorologist, I can say that while yes, there is a threat...it is not this huge increased threat that the ins companies would let you believe. Just because there has not been a hurricane strike in XX years does not mean that there is more of a threat this year.

However...most ins companies will write a 5% "wind damage" clause as a deductible.