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"School taxes have outpaced overall economic growth, and high-paying jobs are leaving Long Island, said Michael White, executive director of the Long Island Regional Planning Council. He and others also worry that the high cost of housing and lack of rentals will continue to drive young people elsewhere - as they have for decades - taking the future tax base with them." Mongoose Editorial Note: The FUTURE tax base is already GONE. We are now cannibalizing each other to get the lowest assessment so our neighbor can pay more!
The property taxes are really high on the list of what's ailing us. Your editorial note is right on about "how" we are dealing with it, but that's not going to last or do much good in the end ... and, deep down, we know it.
The 2010 article also said:
Quote:
Long Island property taxes rose 20 percent above the rate of inflation between 1998 and 2007, compared with 6 percent elsewhere in New York, according to the Long Island Index, an annual report on Long Island trends published by the Rauch Foundation.
That's INSANE!
Could some of the ideas from 35 years ago be revisited?
How about we all read the old article called "A platter of proposals to lighten the tax load" and discuss? (Yeah, a discussion instead of just arguing ... could work!) It has some pretty interesting ideas.
You will really have a problem if the revenue model is variable but the cost structure is fixed.
Up to the early 80s, LI had the best of everything - prosperous manufacturing industry at home, large and diverse banking/financial services industry in NYC. Blue collar workers made money, white collar workers made money. Everyone was happy.
Today that revenue model is no more but there is no way to rectify the cost structure, much of which is enshrined in the state constitution.
You will really have a problem if the revenue model is variable but the cost structure is fixed.
Up to the early 80s, LI had the best of everything - prosperous manufacturing industry at home, large and diverse banking/financial services industry in NYC. Blue collar workers made money, white collar workers made money. Everyone was happy.
Today that revenue model is no more but there is no way to rectify the cost structure, much of which is enshrined in the state constitution.
I honestly think if property taxes weren't such a dramatic problem on Long Island then nothing else would look so bad. But knowing that you're paying thru the nose and it's only going to get worse and worse is no fun at all. Again, the big question people are covering their ears and going "lalalalala can't hear you" about is "what are you getting for your tax dollar now that you weren't getting 10 years ago"? Honestly my taxes went from $4900 a year to $12K a year (they are now $14K on that house) and there's nothing more special happening now than there was in 1997. If anything as far as schools class sizes have grown and buildings just getting older.
I would love to know what the taxes are on the house I grew up in but I don't know how to look that up for Suffolk County.
TWINGLES your parents would have no morgage and planed for the American dream paid off home and live there for a few hundred. Wow now they would have to pay 1000 a month in taxes . Got to love NY.
TWINGLES your parents would have no morgage and planed for the American dream paid off home and live there for a few hundred. Wow now they would have to pay 1000 a month in taxes . Got to love NY.
No, they moved to NC with us and pay $2,000 a year in property taxes. Certainly makes more sense in retirement! They couldn't stay in that townhouse anyway with the stairs. Now they have a 2BR ranch in a retirement community.
Of course things were more optimistic back in the 70s and 80s. The US was spending lavishly on cold war defense and Ronald Reagan wanted to project a strong image for the country - one that would bring a huge deficit to the budget by the time he stepped down. Contracts to Northtrop and suppliers were probably raining down on LI.
Read the article, people were not optimistic in the late 70s quite the opposite in fact. The aerospace industry was in bad shape then and had lost thousands of jobs thanks to Jimmah Carter's slashing of defense spending. However yes when Ronald Regan took office the industry got a reprieve although Fairchild Republic went under in the mid 80s when they lost the trainer contract which they needed to replace the A10. So I wouldn't say all was fine and dandy and contracts were 'raining down' either. Plenty of people lost their jobs.
My old man always tells me I was born 10 years too late. The 70's and 80's were very good in my family. My brothers who are much older than me are doing well because they had that head start when things were still good. I do remember my old man complaining about the cost of things going up over the years but nothing crazy. I was actually doing ok until the late 90's then everything seemed to fall apart. The COL left my salary in the dust. I never stood a chance. I will never forget my first tax bill after the Suozzi reassessment crap. My taxes went from 1400 a year to 3500 in the blink of an eye. My ass has hurt ever since.
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