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Its not the point of this posting, taxes are high, home appreciation is low and as posters state over and over even when your home is paid off you are paying thousands a year in taxes. When a person chooses or need to move to another location in this country more often then not they have little profit/buying power from there homes sale.
Monroe County's tax table is 23 pages, Ontario Counties is 18 pages its too much....
Buying power will depend on a lot of factors/the situation. So, even that isn’t cut and dry.
You still have to be able to afford and have an opportunity to housing as well. Given that housing entails more than just property taxes, it is still good to know about the total or general factors in housing costs.
No one is even debating tax rates being high, but what is more common in the area.
OP and others are spot on. The topic here is prohibitive property taxes. I have lived here and have owned in other places as well.
The condo I owned when I left Chicago was brand new, with covered parking, and one block off Michigan Avenue adjoining Millennium Park. The taxes there were less than half what I pay here. The property value was closer to double.
I will continue to live here for the time being but never would I consider retiring here.
If you are young and you can leave, then you leave. Old people stay here because of the grandkids. Otherwise, a lot of them leave, too.
Of course, you could just keep on paying and then have URMC or Rochester Regional look after you. At least as much as your future Medicare or Medicaid allows...
OP and others are spot on. The topic here is prohibitive property taxes. I have lived here and have owned in other places as well.
The condo I owned when I left Chicago was brand new, with covered parking, and one block off Michigan Avenue adjoining Millennium Park. The taxes there were less than half what I pay here. The property value was closer to double.
I will continue to live here for the time being but never would I consider retiring here.
If you are young and you can leave, then you leave. Old people stay here because of the grandkids. Otherwise, a lot of them leave, too.
Of course, you could just keep on paying and then have URMC or Rochester Regional look after you. At least as much as your future Medicare or Medicaid allows...
Alright, you got me. This is too juicy to pass up. It's kinda becoming a guilty pleasure but I will give this up, I promise.
The condo you link to is a large attic apartment in a gorgeous building. I have driven by it many times. A Kodak exec probably once owned the home. Being in the attic, the space would have been the servants quarters. The kitchen is dreadful, the bath is no better. Drop $50k to improve them and you will never see it back when you sell.
After taxes, HOA and insurance only $823 of the $2236 monthly mortgage goes to building equity. It should be the other way around.
Alright, you got me. This is too juicy to pass up. It's kinda becoming a guilty pleasure but I will give this up, I promise.
The condo you link to is a large attic apartment in a gorgeous building. I have driven by it many times. A Kodak exec probably once owned the home. Being in the attic, the space would have been the servants quarters. The kitchen is dreadful, the bath is no better. Drop $50k to improve them and you will never see it back when you sell.
After taxes, HOA and insurance only $823 of the $2236 monthly mortgage goes to building equity. It should be the other way around.
In terms of the last sentence, a lot of that likely has to do with age and size of the home and property.
Again, that is likely not the norm given other condo/townhome properties in the area where it is the other way around or close to it.
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Quote:
Originally Posted by ckhthankgod
No one is even debating tax rates being high, but what is more common in the area.
But the subject is "Why are property taxes so high in Rochester? " not ways to justify how the no appreciating housing is a good value or "total or general factors in housing costs."
But the subject is "Why are property taxes so high in Rochester? " not ways to justify how the no appreciating housing is a good value or "total or general factors in housing costs."
Or it could be that I already mentioned that it was about the one example that revived the thread, that isn't the norm. Let alone the other stuff...
But the subject is "Why are property taxes so high in Rochester? " not ways to justify how the no appreciating housing is a good value or "total or general factors in housing costs."
Used to be city living was fairly inexpensive, there. Not any more. Property taxes in the city have roughly doubled in 15 years, friends of mine in Charlotte (Cherry Road area), live in a house assessed at around $110K or so, but pay north of $4K in taxes. That's insane, but the tax base has eroded so much since the early 90's that the burden has increased quite a bit for the remaining residents and businesses in the city.
Failed projects are crushing a lot of city taxpayers, plus having the worst school district in the nation doesn't help.
Used to be city living was fairly inexpensive, there. Not any more. Property taxes in the city have roughly doubled in 15 years, friends of mine in Charlotte (Cherry Road area), live in a house assessed at around $110K or so, but pay north of $4K in taxes. That's insane, but the tax base has eroded so much since the early 90's that the burden has increased quite a bit for the remaining residents and businesses in the city.
Failed projects are crushing a lot of city taxpayers, plus having the worst school district in the nation doesn't help.
Is that last sentence true? I know that the district has struggles like many, if not most urban schools, but worst in the nation? There are also charter options like University Prep, Vertus and Rochester Academy, among others at different grade levels. Let alone the private options.
Also, given how home prices have gone up in cities that have grown at a fast pace, that is still relatively affordable city living.
Last edited by ckhthankgod; 07-22-2018 at 06:13 AM..
Are Rochester schools really that bad? Let's see what the local press says. Of course, as you suggest, you can always pay those taxes and then pay for private school on top of it.
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