Imagine NY with no income tax. (Yonkers, Chester: mortgage, attorney, townhouse)
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that is all reflected in value and it’s value that is taxed .
our home in the poconos had far more square footage then the one we owned here ….we paid less taxes and had a lower value in the bigger home then we did here , so that theory is just not accurate.
it’s only about values and tax rates
I remember this discussion we had before.
My opinion? It's not just value and tax rate to everybody.
The ability to drive or walk for miles at any hour of the day in any direction simply amazing.
No fear, no worries as compared to city living.
That can not be said about N.Y.C. without objection. You are limited, pocketed and isolated.
Crime can be anywhere from a streetlight to a few city blocks away to the next neighborhood.
What can you expect of 9,000,000 people spread over 319 square miles.... 300 livable miles
and I'm being generous.
Thirty thousand people per square mile............that is lunacy !
Outside of N.Y.C. you can find a number of places of comparison..... 1,000 people per square mile.
More people, more crime.More demand.
Less people, less Crime. Less demand.
The day they incorporate Quality of Life into the sale of a home will mark the end of the real estate market as we know it.
You do realize that TX and FL, with no income tax, have lower poverty rates than NY, with the highest taxes in the country, correct?
Quote:
Originally Posted by BrooklynJo
It would be just as great as those no state income tax states filled with poverty, regressive tax systems that only create more poverty and much less services, and we would find more clever regressive ways to implement taxes just to replace no income tax just like Texas does.
By your second link, which is what I based my post on, both FL and TX have lower poverty rates than NY. Maybe not by a huge amount. But lower none the less.
Quote:
Originally Posted by BugsyPal
Not exactly!
Florida and NY poverty rates are not that much different recently.
My opinion? It's not just value and tax rate to everybody.
The ability to drive or walk for miles at any hour of the day in any direction simply amazing.
No fear, no worries as compared to city living.
That can not be said about N.Y.C. without objection. You are limited, pocketed and isolated.
Crime can be anywhere from a streetlight to a few city blocks away to the next neighborhood.
What can you expect of 9,000,000 people spread over 319 square miles.... 300 livable miles
and I'm being generous.
Thirty thousand people per square mile............that is lunacy !
Outside of N.Y.C. you can find a number of places of comparison..... 1,000 people per square mile.
More people, more crime.More demand.
Less people, less Crime. Less demand.
The day they incorporate Quality of Life into the sale of a home will mark the end of the real estate market as we know it.
all of what you mentioned is reflected in the value .
that is why westchester is so expensive ..it offers all those intangibles yet let’s you be under an hour from manhattan . it offers closeness to the higher paying jobs and that is what drives value
our pocono home also offered lots of intangibles but it lacked closeness to high paying jobs and so values were lower..
taxes are high generally because valuations are high .
valuations are high because the area is in demand and more often then not it offers closeness to the higher paying jobs and demand is high .
some areas have high valuations because they are in demand strictly for the tangibles but are coveted by the wealthy like the hamptons are or long islands north shore.
they made their money and can now buy solely on the non finacial perks
Last edited by mathjak107; 04-29-2023 at 04:53 AM..
Curious how great would the state be without income tax.
Working folk would be able to save money and have more purchasing power.
And how do you finance the infrastructure, etc? taxes have a purpose. Too much is not good but I wouldn't say having no taxes is the dream.
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