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Property tax on one of our property went up 56%. Now granted we bought the house at a bargain. But we also had to dump a lot of money in it.
We have started making offers outside of the city.
I am planning to leave NY state in the next 6 or so years. But in the mean time city tax + property tax+poor quality of life+ dumb politicians who roll out stupid policies=NYC no longer tenable for us.
We are paying $15K combined between city and property taxes. I may as well move out to the suburbs on an acre of land and top rated schools and hospitals
You can get a lawyer who will challenge the valuation on contingency. They take a portion of the firs years tax savings. We have one that does this for our building every year.
do you have info please? i couldnt find anyone that grieves for nyc n the 5 Bs
I own an 1118 sqft 1-family ranch house in the New Dorp section of SI. NYCDOF raised the market value from $560K for 2021-22 to $621K for 2022-23, a 10.89% increase. I think the actual real-world market value is around $600K based on recent sales in my area.
Long as Asians and few others keep showing up at homes for sale on SI with suitcases full of cash, and paying asking or more if seller will close deal *NOW*, things are going to keep going up.
It compounds situation in that sellers are pricing properties higher than they should in many instances because they know who will be knocking on their door.
People forget water rates. Water rates have basically been another way to raise property taxes without officially raising property taxes.
Add your annual water rate to your property tax bill and there's your real proper tax bill.
The game in NYC has been clear for some time now. They'll rob those who are required to pay taxes to maintain and expand the welfare state in order to buy votes and stay in power.
People forget water rates. Water rates have basically been another way to raise property taxes without officially raising property taxes.
Add your annual water rate to your property tax bill and there's your real proper tax bill.
The game in NYC has been clear for some time now. They'll rob those who are required to pay taxes to maintain and expand the welfare state in order to buy votes and stay in power.
You can get a lawyer who will challenge the valuation on contingency. They take a portion of the firs years tax savings. We have one that does this for our building every year.
Challenging (“grieving”) property taxes seems to be successful on Long Island but not so common in NYC. The NYC Notice of Property Value says this:
Quote:
Many property owners consider requesting review of their market value in hopes of reducing their property tax. However, your property tax will not go down unless you can prove that the market value should be lower than the effective market value.
In my case, the “effective market value” of my home is over $100,000 less than the “market value” per the Notice of Property Value. The effective market value is probably correct based on recent home sales on my block. It would be hard to prove that the market value is lower than the effective market value because the effective market value is probably what the home is worth.
Well I'm going nowhere fast, but eventually, I have my eyes on round rock Texas. And while I dont agree that it will be more of a dump, even if its on par, at least I wont have to cough up some of the Highest Taxes in the country, for residing in arguably the least free state. State and local taxes are high, sales tax high, tolls high, fees high, want to build a deck in your yard, pay the city fees for permits and inspections that are high, want to own a car, high reg fees, everything about this city is Pay up Pay up Pay up, and enjoy lackluster QOL and services.
People who stay here are insane, myself included. If it wasn't for my family all being here and me wanting my kids to be close to their grandparents, aunts, uncles, cousins etc. I would have been long gone.
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