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There is a big difference in tax liability with someone making 150k and living in Queens versus 350k living in Long Island.
I legitmately own in Brooklyn and pay my share but I'm sick of paying 3% of income to NYC. So with my income threshold it makes sense to move to Nassau county, no matter how "uncool" it is.
There is pro & cons with nyc vs LI/Westchester/nj
yeah paying nyc tax stinks & your comments are somewhat valid. It really depend what you are willing to give up.
-LI has high real estate taxes
-Higher real estate taxes pays for better schools. Yes, I am a product of nyc school but LI is better.
-Auto insurance is pretty outrageous in most of nyc. Mines dropped more than half when I moved to LI. Flip side is you need a car to get around in many parts of LI/Westchester/NJ
-Commuting to manhattan from LI cost double at the minimum. LIRR is more comfortable than the nyc subway crush
-LI generally has more space. you want 1/4 acre? 1/2 acre? Its near impossible in most of nyc.
yeah paying nyc tax stinks & your comments are somewhat valid. It really depend what you are willing to give up.
Except that NYC property taxes are some of the lowest for cities in the country. Doesn't help if you're renting but that's something to consider if you own
Except that NYC property taxes are some of the lowest for cities in the country. Doesn't help if you're renting but that's something to consider if you own
that is true for houses.
Its less true for apartments. For example, paying 6-7 grand a year for real estate tax for a 800 sq foot manhattan apartment isn't what I call cheap. That was what I was paying when I lived in manhattan over a decade ago
Its less true for apartments. For example, paying 6-7 grand a year for real estate tax for a 800 sq foot manhattan apartment isn't what I call cheap. That was what I was paying when I lived in manhattan over a decade ago
Agreed, property taxes are only cheap in NYC if you live in an old building in a traditional slum. This is due to the cap on property tax increases. For newer condos and property in areas that have always been expensive it's not cheap. I hope the new mayor would do something about this, but then again he's only paying a few thousand dollars for his seven figure property so why would he. Talk about conflict of interest.
While from an attitude standpoint, your correct, the fact is LI his HUGELY dependent on NYC economically. Just get on a westbound LIRR train at 8:00 AM on a week day, and you'll know its true. Lots of LI is really just a bedroom community for Manhattan.
If you work in NYC (or even more, not) and don't want to pay for NYC, move to NJ or CT.
Quote:
Originally Posted by WIHS2006
We don't want to be part of NYC, quite frankly most of us wish NYC would just float off into the Atlantic.
Long Island statehood is one of my dreams. A Long Island free of Albany and it's NYC black hole. A Long Island standing as an equal with the other states of the Union rather than as a cash cow colony of NYC politicos in Albany. Our own Federal funding without seeing it all swallowed up by NYC. Our own US senators and congressmen/women.
We don't want to be part of NYC, quite frankly most of us wish NYC would just float off into the Atlantic.
Long Island statehood is one of my dreams. A Long Island free of Albany and it's NYC black hole. A Long Island standing as an equal with the other states of the Union rather than as a cash cow colony of NYC politicos in Albany. Our own Federal funding without seeing it all swallowed up by NYC. Our own US senators and congressmen/women.
Puh-leeeze! Get your mind out of 1985. The City is NOT the same city it was back then. Long Island would be like the Southern Tier, only with more expensive housing and higher property taxes if it became its own state. Long Island became as wealthy as it because of NYC's jobs and wealth. YOU benefit from US. If the City floated off into the Atlantic tomorrow, LI would be no better off than Binghamton or Jamestown.
Agreed, property taxes are only cheap in NYC if you live in an old building in a traditional slum. This is due to the cap on property tax increases. For newer condos and property in areas that have always been expensive it's not cheap. I hope the new mayor would do something about this, but then again he's only paying a few thousand dollars for his seven figure property so why would he. Talk about conflict of interest.
some of the newest buildings have tax abatements. Its almost a scam how some of these luxury apartments have thousand...if not tens of thousands of dollars a year in tax abatement. Talk about highway robbery
While from an attitude standpoint, your correct, the fact is LI his HUGELY dependent on NYC economically
If you work in NYC (or even more, not) and don't want to pay for NYC, move to NJ or CT.
Quote:
Originally Posted by Man About Town
. Long Island became as wealthy as it because of NYC's jobs and wealth. YOU benefit from US.
To be accurate, that mostly just applies to Nassau county and maybe the Hamptons. Many parts of Suffolk and outskirts of NJ/CT is like another planet and not very dependent to NYC.
I absolutely agree manhattan is the center of the NYC & metro universe....if any area drifted away as noted...values would be worth as a desert of nowheresville
When you get to eastern Suffolk yes. Then again a lot of eastern Suffolk is dependent on the summer NYC beach / summer house crowd. So instead of them commuting to the city, the city commutes to them.
But in western Suffolk, there are still hordes of people getting on the trains every morning to the city. And I have a feeling most of Suffolk's population is along the Nassau border.
Quote:
Originally Posted by sirtiger
To be accurate, that mostly just applies to Nassau county and maybe the Hamptons. Many parts of Suffolk and outskirts of NJ/CT is like another planet and not very dependent to NYC.
I absolutely agree manhattan is the center of the NYC & metro universe....if any area drifted away as noted...values would be worth as a desert of nowheresville
some of the newest buildings have tax abatements. Its almost a scam how some of these luxury apartments have thousand...if not tens of thousands of dollars a year in tax abatement. Talk about highway robbery
I'm benefiting from this scam, and I will milk it for all its worth. Its expiration in a few years is one of many reasons I am heading east.
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