Just moved to Warwick-tax question (New York, Montgomery: mortgage, relocating, real estate)

[Lukelou]

I just noticed in my mortgage statement-the "Escrow Account Review" is listing school taxes (Warwick Valley Cen S.D.) separately from city taxes (Warwick Town Tax Collector). Both amounts are over $8,000.00. Is this an error?
Aren't the school taxes included in the town's? At closing they took the payment for 2008 taxes ahead. It was just over $8,000. and we know our taxes haven't gone up in Warwick. At least not in the past 3 months.
I'm hoping it's an error-or I've got a house to sell. It's the weekend and I'm making some calls on Monday. Just hoping someone knows something and can offer some relief.
Thanks.

[joeymarine]

Originally Posted by Lukelou

I just noticed in my mortgage statement-the "Escrow Account Review" is listing school taxes (Warwick Valley Cen S.D.) separately from city taxes (Warwick Town Tax Collector). Both amounts are over $8,000.00. Is this an error?
Aren't the school taxes included in the town's? At closing they took the payment for 2008 taxes ahead. It was just over $8,000. and we know our taxes haven't gone up in Warwick. At least not in the past 3 months.
I'm hoping it's an error-or I've got a house to sell. It's the weekend and I'm making some calls on Monday. Just hoping someone knows something and can offer some relief.
Thanks.

The School taxes and the Town/County/State(and village if you are in the village) taxes are paid seperately. School being do in September (you'll get a bill in June usually) and Town/County/State due in January.

If you have one of the newer large homes, that seems about accurate (maybe a little high). If you call or go into Town Hall (right on Kings Highway) on Monday they will be able to give you an accurate figure.

If you PM me with your address I can also pull your tax record off the MLS and either fax it to you tomorrow when I am in the office or mail it out to you.

Good luck!

~Joey

[Nbrakern]

Hello from Los Angeles. We have our house on the market out here and are relocating to Warwick once it sells. I have to say... this post really scares us. Is there a huge difference in taxes between Warwick, Goshen and Pine Bush? Did you owe another $8,000.00 for the school taxes in Warwick. Why are the taxes there soooo high? Is it just for the privilege of the scenerey? Thanks to all who respond.

[lad-59]

Yes Nbrakern taxes do vary very much depending on which town you live in in orange county.

[Songbird42]

I always knew that property tax in New York state were high, but geez Louise, over $16,000 for taxes and I thought that just over the border was high in New Jersey, Vernon, my daughter pays like $6,000 a year.

Warwick is a nice little town, always was, I'm going back in the 60's, hung out at the bowling alley, there were a couple of bars in town, remember the night that a fellow named Tiger got killed outside a bar in town. Nice little shops on Main St. and we could always take the bus into NYC from Warwick. Used St. Anthony's Hospital on several occasions, good hospital.

[joeymarine]

Originally Posted by Nbrakern

Hello from Los Angeles. We have our house on the market out here and are relocating to Warwick once it sells. I have to say... this post really scares us. Is there a huge difference in taxes between Warwick, Goshen and Pine Bush? Did you owe another $8,000.00 for the school taxes in Warwick. Why are the taxes there soooo high? Is it just for the privilege of the scenerey? Thanks to all who respond.

They do vary from town to town...but depending on which towns, that that incredibly much. Warwick and GOshen are in line with one another and Pine Bush is generally a little lower than the other two.

~Joey

[beaner1308]

Question to anyone that can help me..if you have taxes taken out in escrow and with your mortgage every month does that include the school tax or no? I am confused and it would be crazy my taxes are already close to 8,000 in the village? Thank you for any help.

[DLise]

We are seriously considering purchasing a house in Orange County. However, the above posts now have me quite worried.

Is the tax amount listed in the real estate listing the property tax only (i.e. "Aprox. Taxes") and is there an additional school tax that is not listed? If yes, how do we find out the approximate total yearly tax amount for a listing?

Thank you in advance for your help with this!

[ocnymonty]

Everyone considering a move to Orange County needs to be painfully aware of the tax situation especially in regards to newer construction. Some communities have experienced an 11%-17% increase in school taxes year over year, and of course assements quickly jumped on larger homes during the housing boom... and they seem very slow to reassess at lower rates. Fact: In 2007 Orange County was ranked #25 in the highest property taxes in the country by county. That's #25 out of #775 listed by the Tax Foundation. Westchester is #3 in the nation... Bergen County is #5 and Rockland County is ranked #7. There is no comfort in being number #25. I've lived in Orange County nearly my entire life and I've seen many good people pushed out of the area over this grievous tax situation.

Newer construction homes feel the very worst of this situation. I have a close friend of mine who is building a 2500 sq ft home on nine acres in the Town of Goshen and his first year taxes are estimated at $18K. A house we looked at prior to buying this one, was a 2200 sq ft colonial built in 2002 in the Town of Montgomery with a $12K scholl/prop tax bill attached. We gladly walked away from that house. Instead we purchased a beautiful older home (built 1957) just down the street with nearly the same square footage, 4x's the amount of land and plenty of updates. The total tax bill amounts to $5300 per year. Which is still high... but it is affordable.

The fact is, in Orange County no matter the community, if you want to buy a newer home in the $350K-$500K+ range you may be looking at $1000-$2000 per month in taxes to do so. And don't get me started on heating oil!

[joeymarine]

Originally Posted by DLise

We are seriously considering purchasing a house in Orange County. However, the above posts now have me quite worried.

Is the tax amount listed in the real estate listing the property tax only (i.e. "Aprox. Taxes") and is there an additional school tax that is not listed? If yes, how do we find out the approximate total yearly tax amount for a listing?

Thank you in advance for your help with this!

Generally speaking yes. But sometimes those figures are not 100% accurate as either the listing agent is incompetent and those figures can change 2-3 times a year (January when property taxes come out, June when school taxes come out, and/if you are in a village - whenever those taxes come out). The best way to find out is either have your Buyer's Agent verify the taxes for you directly with the Assessors office or to be even more safe...check for yourself.

I would recommend checking yourself because then you know for sure and you won't be surprised at the closing table, which happens more often than you would believe.

Good luck to you and don't hesitate to ask any questions!

~Joey