Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I think you would be surprised at what competent leadership can do. Reducing business taxes + ending income tax coupled with other taxes like tolls and spending cuts could easily change the trajectory for CT in terms of GDP growth. Mass Miracle reduced double digit unemployment down to less than 3%, reduced state wide taxes, and ensured an increase of personal income. Not too different from what I am advocating here. In fact CT would be returning to its roots with abolishing income tax.
In terms of public policy, 10 years could be significant. Let's look at what Giuliani did in NYC or Dukakis in MA. I am a Republican but will give credit where it's due - Andrew Cuomo and Gina Raimondo are doing more to attract businesses than Malloy. The leadership deficit is very real in CT.
In any case, I wish the best for CT. It's a wonderful state.
I agree with you 100%.
My inlaws (Ct residents, retired) are considering moving out of CT, and us share a spreadsheet for pros and cons. They have at least 10 candidate locations. They also rank each location 0-5, 5 being the best. Columns are things like Cost, Proximity to Family, Activity opportunities, 4 season weather, congestion, Crime, etc. Another column is Long Term fiscal prospects.
In that framework we score different locales different, depending on facts at hand. So it is an aggregate score for best information we have.
$10,500 sounds high, but yeah your right doing the math it's still a much better deal than CT. Do yourself a favor and stay out of CT.
Why is it a better deal? A $650,000 house in Yonkers is likely very modest (meaning small and older) and for that $10,500 they would get mediocre schools. In Greenwich, $650,000 will also get you a modest home but the schools would be excellent and the taxes would be about half. I do not consider that a good deal. Jay
Why is it a better deal? A $650,000 house in Yonkers is likely very modest (meaning small and older) and for that $10,500 they would get mediocre schools. In Greenwich, $650,000 will also get you a modest home but the schools would be excellent and the taxes would be about half. I do not consider that a good deal. Jay
I posted previously that my two-family Yonkers house has six bedrooms (3 on each floor), three bathrooms, finished basement, built 1958, and 3600 sq ft. counting the basement. The second floor can be rented for $2,000 a month. A much better deal than paying $360,000 and $9,000 tax on a one family townhouse in Danbury, IMO. If my house was in Greenwich for the same price and half the taxes, it would be a much better deal, comparing Yonkers to Greenwich is like comparing a smart car to a Lexus, lol.
A friend who has a 2 bedroom condo in Carmel, NY (near Danbury) just had his tax reassessment which hiked his monthly tax bill to $500 more than he was paying, he doesn't know if he can afford it now. Additionally, there is a homestead tax option that can raise his taxes further if Carmel gets their way, the condo owners will have to pay the same taxes as homeowners!
I might have to move back to Florida, I'm being priced out of the NY metro market!
I posted previously that my two-family Yonkers house has six bedrooms (3 on each floor), three bathrooms, finished basement, built 1958, and 3600 sq ft. counting the basement. The second floor can be rented for $2,000 a month. A much better deal than paying $360,000 and $9,000 tax on a one family townhouse in Danbury, IMO. If my house was in Greenwich for the same price and half the taxes, it would be a much better deal, comparing Yonkers to Greenwich is like comparing a smart car to a Lexus, lol.
A friend who has a 2 bedroom condo in Carmel, NY (near Danbury) just had his tax reassessment which hiked his monthly tax bill to $500 more than he was paying, he doesn't know if he can afford it now. Additionally, there is a homestead tax option that can raise his taxes further if Carmel gets their way, the condo owners will have to pay the same taxes as homeowners!
I might have to move back to Florida, I'm being priced out of the NY metro market!
You are right my comparisons are not equal but neither are yours. You are comparing the costs to live in a new townhome to an older 2 family dwelling. Not only are the homes nothing alike, the locations are not similar either. To make a better point, I looked at two family homes in Stamford. There was only one that was similar in price to yours. The taxes on it are a little over $6,700 per year. That is a lot less than the taxes you are currently paying. Here is a link to the one I found:
Of course the rental income from these properties would also likely be less. If you are going to do a comparison, it should be apples to apples otherwise it is meaningless. Jay
You are right my comparisons are not equal but neither are yours. You are comparing the costs to live in a new townhome to an older 2 family dwelling. Not only are the homes nothing alike, the locations are not similar either. To make a better point, I looked at two family homes in Stamford. There was only one that was similar in price to yours. The taxes on it are a little over $6,700 per year. That is a lot less than the taxes you are currently paying. Here is a link to the one I found:
Of course the rental income from these properties would also likely be less. If you are going to do a comparison, it should be apples to apples otherwise it is meaningless. Jay
You are right my comparisons are not equal but neither are yours. You are comparing the costs to live in a new townhome to an older 2 family dwelling. Not only are the homes nothing alike, the locations are not similar either. To make a better point, I looked at two family homes in Stamford. There was only one that was similar in price to yours. The taxes on it are a little over $6,700 per year. That is a lot less than the taxes you are currently paying. Here is a link to the one I found:
Of course the rental income from these properties would also likely be less. If you are going to do a comparison, it should be apples to apples otherwise it is meaningless. Jay
Those taxes are based on assessments and appraisals significantly below the actual asking price. How is that so? What are the prospects for tax assessments in the near future?
I ask because our Stratford home was taxed at an appraisal and assessment much closer to current real estate values. ($6033/Yr for 3BR, 1.5Bath, .20 acre)
Does it have anything to do with the age of the two properties listed? They are listed as being older than the Yonkers home.
Those taxes are based on assessments and appraisals significantly below the actual asking price. How is that so? What are the prospects for tax assessments in the near future?
I ask because our Stratford home was taxed at an appraisal and assessment much closer to current real estate values. ($6033/Yr for 3BR, 1.5Bath, .20 acre)
Does it have anything to do with the age of the two properties listed? They are listed as being older than the Yonkers home.
To be fair, any reassessment should be accompanied by a mill rate reduction to mitigate any tax shock. Of course, YMMV!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
