Quote:
Originally Posted by JDMBA
Well, you just don't move there and don't pay the taxes. You buy a house in an area with a better district if you can find a house for the same price. You might not be able to find a house for the same price though. If I'm paying that much in taxes, it had better be for a "good" school district. I would feel absolutely ripped off paying 10k in taxes for a house in Roosevelt, in Cold Spring Harbor, I would understand it. I don't want to say that Levittown should be abandoned, but it's a hard sell to live there based on taxes. The home prices are lower so maybe this is the attraction though.
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Sure the home prices are lower. Anybody can afford to buy in Levittown. BUT don't you think there will be a tipping point where the property taxes will be so high that nobody who wants a low value home can afford them and/or simply will not want to pay them, based on how low the value of the home is and how high they are? And then what will happen to "property values" in Levittown? Crash! And that will be the end of the theory that "expensive school districts" keep the property values high. There will be a time that the expensive school districts will CAUSE property values to crash. Please note I am talking about average middle-class homes. The high property taxes game will probably still be able to go on long after for the upper income areas.