The strange, and curious, reality of NY State's property tax structure. Can someone answer this for me? (Binghamton: low income)

[hears_where_the_story]

Upon research and analysis of the tax records of properties in the lower half of NY State, (not counting NYC boroughs..), we found the property tax patterns seeming to, at times, oddly fluctuate dramatically;
sometimes without rhyme or reason.

A family could, conceivably, buy a modest home in a region, and have a fairly modest property tax, only to see it zoom up in subsequent years; though nothing especially vast or great has been done to the property to make it such a highly improved house.

Can someone share, from their own experience, or others they know of, what would be the reasons for the vastly dramatic leaps and bounds some property taxes make over the course of, say, a mere few years in NY state?

We've looked at a number of properties, in various regions south of Binghamton, and the standard almost always seems to be the same. Any properties that have even a mild amount of acreage, or are aesthetically, even mildly attractive, almost always have ridiculously high tax rates tacked onto them.

We also noted, that for even some more humble abodes, it is possible that a house which began with a fairly low or reasonable property tax rate, seemed to get high jacked and almost doubled, during the years between 2008/2009 , then, having a small lull after 2011. Is this due to our current administration?
Why would this be?

If a neighborhood is halfway decent, and there's a good amount of business development nearby the theory is such infrastructure makes the city or town's property taxes lower. But we have not seen this with any of these regions, particularly. (And we do not want to contradict the NY State's Times newspaper assertion, but wishing does not make it so, nor does placing something in print..)

The thing that causes the most reserve about these areas, is that the tax structure, and reasons for it, seems so terribly shape-shifty..

It's as if much of the state of NY's property tax structure is on some big, blundering boat, which started out ok, went Hell bound, and, now, kind of has itself docked , floating amongst the drift of folks leaving the North East, and others wondering: 'What the heck happened?' Others, just seem to take it as part of life there and deal with it.

But that leaves people moving in, thinking they may be getting a good deal on property taxes unaware of when, or how, their next property tax increase could occur. Or for how much, eventually..

This does not seem a very stable, nor clear cut, pattern for home owners, home buyers, or any onlookers who may just wonder about this way of doing things..

I understand that this being the state of NY may make some feel there is more, what? precedent? rights?

huh?

..in order to keep raising property taxes sky high and willy nilly..


Just not feeling that's enough reason to do that, surely not in NY State,

as a way to draw people into community..

keep them there,

or something...


We'd appreciate it if someone could kindly explain what is the draw to such tax strangeness, and is there a remedy. Or at least something to keep such wolves at bay?

Thank you, in advance, from We in New Jersey, who very well understand the theory of property tax
heft..

[BuffaloTransplant]

In the past, many houses were assessed fractionally. You had the fraction multiplied by a town tax rate. When our assessment went to 100% market value, it jumped. We contested it and got it lowered.

Another item which jumps taxes is that a house may be owned many, many years by one owner. The farmhouse next to me was built and owned by a man before WWII. The man had low taxes, he also had low income STAR and senior and veteran deductions. A guy bought the house and entirely rehabbed it, planning to live there. He decided to sell it... the guy who bought it from him found a house with taxes assessed very low... and, since it was entirely redone, it was now worth 3X the original tax value. His taxes doubled. Nobody told him the tax assessment was fractional, had all the deductions... He now has just our "normal" STAR ( deduction on school taxes)

Realtors are not obligated by law to tell people this; so many don't. It is a due diligence thing on your part - check the prior owner with the town and the taxes. See what the valuation is for that tax.. If there is not sale for over 15 years? Expect a reassessment and tax hike. The minute the new pics show on an old house for sale? Our assessor goes to an open house and finds out what has occurred. Most towns have their taxes on town websites. At this part of the year, if you look them up, you will get school taxes, which is paid in NY in Oct. In Feb, Town and County are due.

You also need to realize that if you have a mortgage, you probably have an escrow account to pay taxes. The bank guesses what taxes will be.... and adds it into the mortgage. Often, they are not correct -- so one year its high, another its lower. You pay for it, higher than taxes at some times, lower in other years ( you can get a mortgage without escrow; we saw to it our daughter did. She budgeted for paying the taxes herself.... When we paid off our mortgage, the bank still tried to get us to pay them for collecting our escrow and paying our taxes! Bull hockey! I demanded the bank return the deed... they "lost it"; they gave us a letter that said we owned free and clear. We went to the county with the letter, discovered they had the deed ( not supposed to happen), got the clear deed and now I write my tax checks and deliver it to town in Oct. and Feb.

Hope this helps.

[hears_where_the_story]

Hello,

Thank you for your complete and well thought out reply..
It surely is a lot to think about,
and I may have more questions on your comment later..
at a future time