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Im looking in Westchester for any area to buy a home with the least amount of taxes. My budget is about 300-400K. I've been trying so hard to find a list with highest to lowest taxes in Westchester. The county website for Westchester is confusing and not easily understandable. Does anyone have the top 5-10 area's with the cheapest taxes?
I think another user already offered a pretty accurate response to your same question in another thread:
Quote:
Originally Posted by dr.strangelove
Its always hard to answer questions like this. there is not one taxing body like in the city. All area have three case taxes, 1) the local town or city tax, 2) the local school tax and 3) the county assessment. the local towns collect all three, but each are set independently and can vary a great deal. In addition to these, there are special tax districts all over the county, such as fire districts, sewer and water districts, special service districts and there are also sub-municipalities like villages. For example, if you live in Croton, you may pay Croton village tax, town of cortlandt tax, croton school tax, county tax, fire district tax, sewer and water district tax. Because these can vary from houses that sit on opposite sides of the street, its next to impossible to creat a list.
Also, tax rates can vary a great deal. For example, the tax rate in a town with very high property values can be low because the schools and town make a tremendous amount on each property. Towns with lower values must have higher rates because the towns need to make up for less from each property. You need to set a budget for your taxes and try to find a home that meets it. Best of luck to you.
As mentioned above, there's not really any way to provide a list. You have to consider each house within your budget on a case-by-case basis depending on its location. You can usually request some recent tax information from your buyer's agent or the listing agent which can assist in making a decision. Make sure to ask how the taxes are divided between city/county/village/etc to get a better understanding as well as when the last assessment took place and whether the property is due for another (can affect your decision).
All that said, generally speaking, 300-400k is pretty low for a single-family home in the majority of Westchester. You might have better success looking at condo/apartment options, depending on your preference.
Areas that have a large commercial base tend to have relatively lower taxes e.g. White Plains, New Rochelle, and Mt. Kisco. Also, Armonk has low has a large IBM facility which apparently pays a large portion of the taxes and there's a Rockefeller estate that pays into the school taxes for the Pocantico school district. However, in most cases low taxes are simply offset by higher home prices.
Areas that have a large commercial base tend to have relatively lower taxes e.g. White Plains, New Rochelle, and Mt. Kisco. Also, Armonk has low has a large IBM facility which apparently pays a large portion of the taxes and there's a Rockefeller estate that pays into the school taxes for the Pocantico school district. However, in most cases low taxes are simply offset by higher home prices.
Which, by the way, tends to apply to Connecticut as well.
Thanks for the info Gents. I know the info is out there and I don't think Its too difficult to put together It may take a bit of work for all of Westchester with all the villages and towns, but there's a formula after all the different taxes are considered.
Then looking at my budget $300-400 (or lets just make it an even $350k for simplicity) then start doing the comparison.
For example: (from Zillow)
Home for $350k in Cortland - Tax = ~$5,000
Home for $350k in Yonkers - Tax = ~$6500
Home for $350k in White Plains - Tax = ~$8000
Home for $350k in Ossining - Tax = ~$11,000
Really, what is different is obviously the home, sq footage, lot size and condition. Which I am not considering or asking to consider for the sake of making this request easier.
Again, I know the numbers are out there and I know I can do the leg work myself right off of Zillow by looking at areas im interested in like above. I was just hoping someone has already compiled a list and have area's in Westchester with lower taxes that I haven't considered. That's really my question. Which 5 areas has the lowest tax rates in Westchester, so I can get the most BANG (house) for my buck vs paying MORE in taxes each month then my actual mortgage loan.
Im looking in Westchester for any area to buy a home with the least amount of taxes. My budget is about 300-400K. I've been trying so hard to find a list with highest to lowest taxes in Westchester. The county website for Westchester is confusing and not easily understandable. Does anyone have the top 5-10 area's with the cheapest taxes?
Keep looking...
The words, "cheap in" and "Westchester" cannot exist in the same sentence. No such thing!
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Here is a link that has all the tax tables for the county rather than running a number through them look at the rate per 1k assessed and decide which one(s) are the lowest. Don''t forget school tax... Property Tax Rates
Thanks for the info Gents. I know the info is out there and I don't think Its too difficult to put together It may take a bit of work for all of Westchester with all the villages and towns, but there's a formula after all the different taxes are considered.
Then looking at my budget $300-400 (or lets just make it an even $350k for simplicity) then start doing the comparison.
For example: (from Zillow)
Home for $350k in Cortland - Tax = ~$5,000
Home for $350k in Yonkers - Tax = ~$6500
Home for $350k in White Plains - Tax = ~$8000
Home for $350k in Ossining - Tax = ~$11,000
Really, what is different is obviously the home, sq footage, lot size and condition. Which I am not considering or asking to consider for the sake of making this request easier.
Again, I know the numbers are out there and I know I can do the leg work myself right off of Zillow by looking at areas im interested in like above. I was just hoping someone has already compiled a list and have area's in Westchester with lower taxes that I haven't considered. That's really my question. Which 5 areas has the lowest tax rates in Westchester, so I can get the most BANG (house) for my buck vs paying MORE in taxes each month then my actual mortgage loan.
Thanks again!
those numbers are probably not accurate. No one in Cortlandt with a $350,000 house pays $5,000 in total tax. Maybe that is just the town tax, but the total tax bill on that house is closer to $10,000. Of course there are programs like Star which can help reduce that amount (not by 50% though), but I would not bank on Star being around forever. I would buy based on the tax bill without star, use the savings to help pay the mortgage early, because one of these years Star is going bye bye for good.
somewhat out of date but probably still reasonably accurate.
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No such thing!
