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Old 05-18-2016, 10:47 AM
 
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Hi there. My husband and I are planning to buy a home in either Westchester County or Fairfield County. I am a complete novice to buying a home and am very lost in regards to property taxes. My father in law claims property taxes are much lower in Fairfield County vs Westchester. We are looking in the most expensive towns (we want good schools), i.e. Westport, which I know have the highest rates in CT but how do they fare compared to Westchester County? Say, Larchmont or Bedford as examples.
I know it varies by town, but I am just trying to get a general sense. I cannot seem to find a clear answer online. How do you find out current property tax rates? Is there a website? Do you have to contact the town? Like I said, I am completely new to all of this as I have been a renter my whole life. Thank you!
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Old 05-18-2016, 10:59 AM
 
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Property taxes, at least in NY, are based on a home's assessed value, which may or may not jive with its present-day selling price. Based on this, property tax analysis in NY is very much a case by case proposition. You really just need to select some prospective houses that are possibilities and contact the municipality and ask them what have been the property taxes for those houses, making sure they are giving you all taxes (county, town, village (if any), and school). Even though the town/village is not involved with the county or school taxes, they should be able to tell you what they are because in most instances they are the collecting agent, and in any event, should have it all listed. For CT, I would image similar exists.
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Old 05-18-2016, 11:17 AM
 
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"Property taxes, at least in NY, are based on a home's assessed value", is omnipresent myth of uncertain origin. House with the same pricetag will pay about 3 times less taxes in Fairfield count then in Westchester. Moreover it is commonly noted observation that hose prices on CT side of the border are higher yet property taxes are lower "so they balance the price out."
Roads in affluent CT and PA ie(Mainline) suburbs are better then in Westchester. Schools are let's say equal.
It appears to me that the only way why government elivates Westchester property taxes as high is because they know they will have more then enough people willing to pay them to live in a cosmopolitan, beautifull, affluent and accessible extension of NYC.
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Old 05-18-2016, 11:31 AM
bg7
 
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Quote:
Originally Posted by MeaningIntheMeanwhile View Post
"Property taxes, at least in NY, are based on a home's assessed value", is omnipresent myth of uncertain origin. House with the same pricetag will pay about 3 times less taxes in Fairfield count then in Westchester. Moreover it is commonly noted observation that hose prices on CT side of the border are higher yet property taxes are lower "so they balance the price out."
Roads in affluent CT and PA ie(Mainline) suburbs are better then in Westchester. Schools are let's say equal.
It appears to me that the only way why government elivates Westchester property taxes as high is because they know they will have more then enough people willing to pay them to live in a cosmopolitan, beautifull, affluent and accessible extension of NYC.


No, that's how it is.
Perhaps you are confusing assessed value (i.e. the value the local taxing authority currently has your house assessed at) versus the actual market value (which is often quite different), or, say, a third party assessment value.
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Old 05-18-2016, 11:34 AM
 
517 posts, read 415,772 times
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Quote:
Originally Posted by MeaningIntheMeanwhile View Post
"Property taxes, at least in NY, are based on a home's assessed value", is omnipresent myth of uncertain origin. House with the same pricetag will pay about 3 times less taxes in Fairfield count then in Westchester. Moreover it is commonly noted observation that hose prices on CT side of the border are higher yet property taxes are lower "so they balance the price out."
Roads in affluent CT and PA ie(Mainline) suburbs are better then in Westchester. Schools are let's say equal.
It appears to me that the only way why government elivates Westchester property taxes as high is because they know they will have more then enough people willing to pay them to live in a cosmopolitan, beautifull, affluent and accessible extension of NYC.
How is the bolded statement a myth? Please explain.
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Old 05-18-2016, 01:05 PM
 
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Schools in CT are not often Equal to schools in Westchester. Also, with all the businesses in CT running for the hills due to high corporate tax (loss of GE was huge) - which are used to help offset the generally low property tax - a change may be coming in the CT residential tax code.
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Old 05-18-2016, 02:24 PM
 
Location: Westport, CT
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Westport was ranked #12 as the best school district in the COUNTRY by niche.com.
Mamaroneck / Larchmont Union Free district didn't crack the top 100 nationally, yet they have much higher taxes.

Regarding the other responses the misinformed gentleman above said..

GE only took 200 jobs to Boston. The other 600 jobs are staying in Norwalk:

General Electric is moving its headquarters to Boston, but most of the 800 jobs at its longtime home in Fairfield will not leave the state.

Fairfield-based GE moving up to 600 jobs to Norwalk - Connecticut Post

Also, CT just passed its budget approval and is not raising any taxes.

Now, back your original question regarding property taxes. Each MLS listing on realtor.com has the specific tax amount of the property you're interested in under the tab "property history".

3500 sft, 1 acre in Westport - $13k in taxes:
2 Gordon Ln, Westport, CT 06880 - Home For Sale and Real Estate Listing - realtor.com®

3,200 sq ft, 0.33 acres in Larchmont - $27k in taxes
1 Lancia Ln, Larchmont, NY 10538 - Home For Sale and Real Estate Listing - realtor.com®
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Old 05-18-2016, 02:25 PM
 
Location: Westport, CT
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Quote:
Originally Posted by neil1973 View Post
Schools in CT are not often Equal to schools in Westchester.
You're right, CT schools are better, and we have less tax. Have fun with that.
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Old 05-18-2016, 02:36 PM
 
50 posts, read 42,401 times
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Quote:
Originally Posted by 987ABC View Post
How is the bolded statement a myth? Please explain.
That is not difficult. it is enough to observe that assessed value is not residual in objective reality or current market. If anyone claims otherwise, let them explan the fraction. Let them do correlation between assessed value and market value. Is the assessed value Real or is the market value Real. On which reality do you pay taxes? If you zoom out this is not the case only in Westchester, 2 years ago they have assessed property taxes in suburbs of Albany for almost 2 x market value. People would not have a chance selling their houses at assessed value yet they have paid taxes on it.


Many CT especially FFC county schools are better then many schools in Westchester. Aside from poor Bridgeport, Stratford, Stamford and mediocre Norwalk FFC has some excellent public schools by American North Eastern Standards. Why would you say Rye, Mamoraneck or Scarsdale schools are better then New Cannan, Greenwich or Redding?


When it comes to the roads FFC blows Westchester out of water. I live in Westchester and I like it a lot and would like FFC quality of roads in Westchester.

Last edited by MeaningIntheMeanwhile; 05-18-2016 at 02:53 PM..
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Old 05-19-2016, 08:31 AM
 
273 posts, read 434,092 times
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Quote:
Originally Posted by beerisgood02 View Post
You're right, CT schools are better, and we have less tax. Have fun with that.
looks like a stuck a nerve...
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