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Old 11-08-2007, 06:57 AM
 
56 posts, read 230,081 times
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Please excuse my ignorance again but this is due to the fact that I have never lived in the States. I would like to know if we would have to pay taxes on a rented house or you only pay them when you own a property.
This information would help us in budgeting for our move as at the beginning we would probably rent.
Also for a family of 5 living in Westchester on a 90K salary what amount of total taxes we need to budget for considering income taxes, property taxes ect?

Thanks for your help.
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Old 11-08-2007, 07:39 AM
 
Location: Bronx, NY
2,806 posts, read 16,332,729 times
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There's no property taxes on a rented house, that should be included in the rent (and paid by the owner). You only pay taxes on property you own.

If you do purchase a house just be aware that the taxes in the NYC suburban areas can be very expensive.
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Old 11-08-2007, 09:46 AM
 
56 posts, read 230,081 times
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Thanks for the information, it is very useful. Yes I know that property taxes are very high, I have been looking at the differences from town to town. What do you think we can get for between 2500 and 2800$ in towns like Eastchester, Dobbs Ferry, Tarrytown,Croton? Could we manage to get a 4 bedrooms single family house?
By the way, Tarrytown , Dobbs Ferry and Hastings are not mentioned very often on this board. Any opinion on those towns and their school districts?

Last edited by Raffaella; 11-08-2007 at 10:04 AM.. Reason: Needing more information
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Old 11-08-2007, 12:49 PM
 
Location: Bronx, NY
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I know Tarrytown the best out of the three. It has a very nice small town vibe. Seems fairly affluent and there are always people walking around on the streets enjoying themselves (which is somewhat unusual for America, mind you) To be honest I don't know so much about the schools there.

Have you checked out the Great Schools webpage? GreatSchools.net It gives reviews of all of the schools.
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Old 11-08-2007, 02:54 PM
 
12,769 posts, read 18,277,441 times
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Quote:
Originally Posted by mead View Post
There's no property taxes on a rented house, that should be included in the rent (and paid by the owner). You only pay taxes on property you own.

If you do purchase a house just be aware that the taxes in the NYC suburban areas can be very expensive.
It's worth paying the taxes and owning something than it is to rent...b/c what are you doing when you rent? essentially throwing away money. owning is an invesment- allows you to obtain equity.
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Old 11-08-2007, 04:47 PM
 
Location: Bronx, NY
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Alright you've posted this repeatedly. Generally as a rule of thumb you are correct, however buying is not always to go, for the following reasons

-many people can't afford the down payment

-if you can get a stabilized apartment the rent can be dirt cheap

-if you don't plan on living in the area for more than 3-5 years renting is preferable to owning

-if the real estate market is stagnating or declining then there is no point in building equity in an asset which is declining in value.

Quote:
Originally Posted by Jdawg8181 View Post
It's worth paying the taxes and owning something than it is to rent...b/c what are you doing when you rent? essentially throwing away money. owning is an invesment- allows you to obtain equity.
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Old 11-10-2007, 02:22 AM
 
56 posts, read 230,081 times
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Quote:
Originally Posted by mead View Post
I know Tarrytown the best out of the three. It has a very nice small town vibe. Seems fairly affluent and there are always people walking around on the streets enjoying themselves (which is somewhat unusual for America, mind you) To be honest I don't know so much about the schools there.

Have you checked out the Great Schools webpage? GreatSchools.net It gives reviews of all of the schools.

Thank you Mead for tou tip, I will look into that webpage. By the way I have also discovered another webpage which seems quite good and it is schoolmatters.com . From this webpage it looks as if in Tarrytown there are not public high schools. So does anybody know which high school children from Tarrytown go to?
Finally can anybody tell me if with $2500 a month we can get a 4 bedroom house in Tarrytown, Dobbs Ferry or Eastchester?
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Old 11-10-2007, 12:22 PM
 
Location: Bronx, NY
2,806 posts, read 16,332,729 times
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I think it might be difficult to get a 4br house in those towns for that price.

I know you can get a 3 br apartment for around $2,500, but finding a whole house might be difficult.

Take a look around on Craigslist for an idea (new york city all apartments classifieds - craigslist) . When you arrive here it might be a good idea to contact a realtor to help you find what you are looking for.

Quote:
Originally Posted by Raffaella View Post
Thank you Mead for tou tip, I will look into that webpage. By the way I have also discovered another webpage which seems quite good and it is schoolmatters.com . From this webpage it looks as if in Tarrytown there are not public high schools. So does anybody know which high school children from Tarrytown go to?
Finally can anybody tell me if with $2500 a month we can get a 4 bedroom house in Tarrytown, Dobbs Ferry or Eastchester?
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Old 11-10-2007, 12:43 PM
 
Location: UK
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Yes craiglist is avery interesting web, worth looking at.
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Old 11-10-2007, 12:46 PM
 
56 posts, read 230,081 times
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Thank you I will get onto that webpage to get an idea.

Last edited by Raffaella; 11-10-2007 at 01:08 PM..
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