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Old 05-18-2017, 07:38 PM
 
1 posts, read 999 times
Reputation: 10

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Hi,

My wife and I both work in Manhattan and rent an apartment in New Rochelle. We are considering moving closer to work. If we rent in Manhattan for 1year, starting August 2017, then am I right in assuming that for NYC property taxes:

a) For 2017 taxes, we won't have to pay NYC income tax (as we will be residents only for 5months, Aug-Dec)
b) For 2018 taxes, we will have to pay NYC income tax for full year (as >7months)

Sorry if this has been asked on this forum before. I decided to ask after 30 mins of searching!

Thank you!
Si
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Old 05-19-2017, 03:04 AM
 
64,704 posts, read 66,206,532 times
Reputation: 43113
nyc has partial taxes when you earn money here .
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Old 05-20-2017, 11:52 AM
 
Location: New York, NY
2,459 posts, read 1,816,445 times
Reputation: 1334
Yeah, that'll be a question on your tax return. If you work a day in NYC, you'll pay a days worth of taxes.
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Old 05-20-2017, 09:10 PM
 
Location: NYC
11,831 posts, read 7,711,618 times
Reputation: 12814
If you move to NYC you have to pay resident income tax not property tax since you don't own land.

I don't know why would anyone want to move here and pay the resident tax, state tax, Fed Income taxes, and the high cost of living.

If you make over $150-200k combined you are shelling out almost 40% of your income towards taxes with deductions.

Only people that should live in the city are people making under $40k or over $500k. Anyone making between are just getting robbed.
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Old 05-20-2017, 10:34 PM
 
5,717 posts, read 5,170,754 times
Reputation: 3840
Quote:
Originally Posted by vision33r View Post
If you move to NYC you have to pay resident income tax not property tax since you don't own land.

I don't know why would anyone want to move here and pay the resident tax, state tax, Fed Income taxes, and the high cost of living.

If you make over $150-200k combined you are shelling out almost 40% of your income towards taxes with deductions.

Only people that should live in the city are people making under $40k or over $500k. Anyone making between are just getting robbed.
You have become such a bitter man. Sorry you hate your life so much
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Old 05-21-2017, 02:36 AM
 
64,704 posts, read 66,206,532 times
Reputation: 43113
gotta agree with you .

we are retired and purposely did not retire elsewhere ,where we had property and our retirement income is not 500k a year .

that is a ridiculous statement .
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