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Old 07-18-2018, 08:50 AM
 
Location: Confines of the 101 Precinct
19,086 posts, read 32,655,211 times
Reputation: 7563

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Quote:
Originally Posted by BugsyPal View Post
Own property elsewhere, but not in NYC. Crunched those numbers years ago and it didn't then nor now make sense. Besides what does owning or not in NY have to do with anything?


Anyone with a decent education and enough sense can run the calculations and make decisions.
I was just curious. You said that NYS property tax is some of the cheapest (not in those exact words) and I said to myself, well anybody owning property in NYC wouldn't complain about that, so I was right.
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Old 07-18-2018, 09:16 AM
 
Location: In the heights
20,111 posts, read 21,722,272 times
Reputation: 10216
Quote:
Originally Posted by BugsyPal View Post
To an extent yes; but if you make things too nice in your area out come the SJWs who will attempt to push in all sorts in name of "equality".
That also depends on the neighborhood—and what is being pushed for.

Quote:
Originally Posted by BugsyPal View Post
We're all on Todt Hill, Rosebank, Bulls Head and Silver Lake. With a smattering around Westerleigh.


But yes, agree with you that South Shore is a great place to own/raise a family. Didn't they just open that nice new TOL public elementary school out by you?


Public high schools on SI starting declining in quality when city got rid of zoning IMHO.
When did the city get rid of zoning for public high schools? And for that matter, when did location preferences for public high schools start after zoning was established?
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Old 07-18-2018, 01:22 PM
 
18,242 posts, read 11,645,412 times
Reputation: 11847
Quote:
Originally Posted by SeventhFloor View Post
I was just curious. You said that NYS property tax is some of the cheapest (not in those exact words) and I said to myself, well anybody owning property in NYC wouldn't complain about that, so I was right.

No, get it right. I said *NEW YORK CITY* property taxes are low, and on average for comparable properties elsewhere they are.


Also equally yes, people do complain about even those rates of taxation.


If you are going to get all up in my business get your facts correct.




https://smartasset.com/taxes/new-yor...tax-calculator


http://www.crainsnewyork.com/article...erty-taxes-are


https://nypost.com/2018/06/23/homeow...roperty-taxes/


https://www.habitatmag.com/Publicati...cind-Abatement


https://www.brickunderground.com/buy...property-taxes


For your information commercial properties (which include rental housing) pay a majority of real estate taxes in NYC. Next come condos and co-ops, and finally single and two family homes who pay the least.


"This year Mayor de Blasio will pay $3,581 in property taxes on each of two row houses he owns in ultra-gentrified Park Slope. The city says his properties are worth about $1.6 million apiece."


EXCLUSIVE: NYC property taxes favor rich and white homeowners, lawsuit claims - NY Daily News
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Old 07-18-2018, 01:36 PM
Status: "Halloween! Can't wait." (set 8 days ago)
 
Location: Manhattan
1,781 posts, read 754,370 times
Reputation: 825
Quote:
Originally Posted by SeventhFloor View Post
I was just curious. You said that NYS property tax is some of the cheapest (not in those exact words) and I said to myself, well anybody owning property in NYC wouldn't complain about that, so I was right.
So, true. I don't know about anywhere else but I don't find NYC property tax cheap even with STAR and condo/coop abatements. Not at all. And forget it if you own a building. The water bills alone...and boiler problems. Etc, etc. (gripe, gripe, gripe). There's a reason why rents are so high. Expenses are high.
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Old 07-18-2018, 01:42 PM
 
18,242 posts, read 11,645,412 times
Reputation: 11847
Quote:
Originally Posted by Aeran View Post
So, true. I don't know about anywhere else but I don't find NYC property tax cheap even with STAR and condo/coop abatements. Not at all. And forget it if you own a building. The water bills alone...and boiler problems. Etc, etc. (gripe, gripe, gripe). There's a reason why rents are so high. Expenses are high.
Again, commercial properties (which include rental buildings) are taxed differently than single or two family homes. Is there a chair out there I can explain this to that would understand?



"I used the site to compare my modest 140-unit co-op in Manhattan with the most expensive single-family homes currently listed on StreetEasy in Manhattan, Brooklyn and Queens. My building pays a total of $1.5 million a year in taxes (averaging about $11,000 for each apartment); recent prices have ranged from $365,000 for a studio to $1.25 million for a 2-bedroom. Here are the bills for the others:https://streeteasy.com/blog/nyc-prop...rs-homeowners/


Then you have things like this:


https://www.brickunderground.com/buy/stoop-tax-Brooklyn

Last edited by BugsyPal; 07-18-2018 at 01:55 PM..
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Old 07-18-2018, 01:42 PM
Status: "Halloween! Can't wait." (set 8 days ago)
 
Location: Manhattan
1,781 posts, read 754,370 times
Reputation: 825
Quote:
Originally Posted by BugsyPal View Post

For your information commercial properties (which include rental housing) pay a majority of real estate taxes in NYC. Next come condos and co-ops, and finally single and two family homes who pay the least.
Oh...
Ok. That explains that.
My property taxes are high. But it's nothing compared to what my mom pays.
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Old 07-18-2018, 01:55 PM
 
18,242 posts, read 11,645,412 times
Reputation: 11847
Quote:
Originally Posted by Aeran View Post
Oh...
Ok. That explains that.
My property taxes are high. But it's nothing compared to what my mom pays.

Last time NYS (and to an extent NYS who sets large parts of tax laws) dealt with property taxes they faced a political problem; how to raise revenue without driving out (and or ticking off) middle class homeowners in Bronx, Brooklyn, Staten Island and Queens.


The result was a vast and bewildering property tax code that to a good extent shelters and protects single and two family homeowners. This at the expense of commercial and condo or co-op properties.


For a city with a vast amount of rental housing, and much of it under some sort of government control or program it is ironic that such housing is taxed at high rates compared to private homes. Worse the city can increase those rates at anytime and they take affect at once. Meanwhile homeowners see any increase or decrease in rates phased in over several years.


In theory (and practice) you could sell your (single or two family) home long before any major tax increase fully is fully phased in, and leave the new owner holding that bag.
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Old 07-18-2018, 01:55 PM
 
Location: Confines of the 101 Precinct
19,086 posts, read 32,655,211 times
Reputation: 7563
Quote:
Originally Posted by BugsyPal View Post
No, get it right. I said *NEW YORK CITY* property taxes are low, and on average for comparable properties elsewhere they are.


Also equally yes, people do complain about even those rates of taxation.


If you are going to get all up in my business get your facts correct.




https://smartasset.com/taxes/new-yor...tax-calculator


http://www.crainsnewyork.com/article...erty-taxes-are


https://nypost.com/2018/06/23/homeow...roperty-taxes/


https://www.habitatmag.com/Publicati...cind-Abatement


https://www.brickunderground.com/buy...property-taxes


For your information commercial properties (which include rental housing) pay a majority of real estate taxes in NYC. Next come condos and co-ops, and finally single and two family homes who pay the least.


"This year Mayor de Blasio will pay $3,581 in property taxes on each of two row houses he owns in ultra-gentrified Park Slope. The city says his properties are worth about $1.6 million apiece."


EXCLUSIVE: NYC property taxes favor rich and white homeowners, lawsuit claims - NY Daily News
I meant to say NYC.

I know that commercial properties pay majority of the property taxes in NYC. Why do you assume that you're the only one that knows this stuff?
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Old 07-18-2018, 04:39 PM
Status: "Halloween! Can't wait." (set 8 days ago)
 
Location: Manhattan
1,781 posts, read 754,370 times
Reputation: 825
Quote:
Originally Posted by BugsyPal View Post
Again, commercial properties (which include rental buildings) are taxed differently than single or two family homes. Is there a chair out there I can explain this to that would understand?
lol. I get it. I get it.
I read previous comments before reading your last one and responded to your last posting before you posted this but it got lost in the shuffle.
I get it. Thanks.
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Old 07-18-2018, 04:53 PM
Status: "Halloween! Can't wait." (set 8 days ago)
 
Location: Manhattan
1,781 posts, read 754,370 times
Reputation: 825
Quote:
Originally Posted by BugsyPal View Post
The result was a vast and bewildering property tax code that to a good extent shelters and protects single and two family homeowners. This at the expense of commercial and condo or co-op properties.
Yeah. My mom can attest to that. Tax on commercial is unbelievable even with the tax abatements. I'll reiterate, there's a reason why rent is so high. I don't fare any better with a condo it seems. But owning a single home carries a whole lot of other expenses & repairs I'd have to deal with specific to being a single homeowner.

Death and taxes. Can't escape them.
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