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Old 05-19-2016, 08:32 AM
 
280 posts, read 536,517 times
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Quote:
Originally Posted by beerisgood02 View Post
Westport was ranked #12 as the best school district in the COUNTRY by niche.com.
Mamaroneck / Larchmont Union Free district didn't crack the top 100 nationally, yet they have much higher taxes.

Regarding the other responses the misinformed gentleman above said..

GE only took 200 jobs to Boston. The other 600 jobs are staying in Norwalk:

General Electric is moving its headquarters to Boston, but most of the 800 jobs at its longtime home in Fairfield will not leave the state.

Fairfield-based GE moving up to 600 jobs to Norwalk - Connecticut Post

Also, CT just passed its budget approval and is not raising any taxes.

Now, back your original question regarding property taxes. Each MLS listing on realtor.com has the specific tax amount of the property you're interested in under the tab "property history".

3500 sft, 1 acre in Westport - $13k in taxes:
2 Gordon Ln, Westport, CT 06880 - Home For Sale and Real Estate Listing - realtor.com®

3,200 sq ft, 0.33 acres in Larchmont - $27k in taxes
1 Lancia Ln, Larchmont, NY 10538 - Home For Sale and Real Estate Listing - realtor.com®
GE is moving their HQ to Boston - this is a big deal, whether you want to downplay it or not.
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Old 05-19-2016, 02:30 PM
 
1,837 posts, read 1,576,575 times
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You have more options for traveling into NYC from Westchester. If you don't need to be in the city every day then IMO lower Fairfield is a more pleasant place to be with more breathing room.

I am not sure why GE is a factor in this conversation, Westport's housing market/desirability isn't driven by GE at all.... the towns that are suffering from that departure are the ones like Trumbull and Monroe that attract middle to upper middle class people who can't afford Westport.
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Old 05-20-2016, 07:35 AM
bg7
 
7,696 posts, read 9,369,630 times
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Quote:
Originally Posted by MeaningIntheMeanwhile View Post
That is not difficult. it is enough to observe that assessed value is not residual in objective reality or current market. If anyone claims otherwise, let them explan the fraction. Let them do correlation between assessed value and market value. Is the assessed value Real or is the market value Real. On which reality do you pay taxes? If you zoom out this is not the case only in Westchester, 2 years ago they have assessed property taxes in suburbs of Albany for almost 2 x market value. People would not have a chance selling their houses at assessed value yet they have paid taxes on it.


Many CT especially FFC county schools are better then many schools in Westchester. Aside from poor Bridgeport, Stratford, Stamford and mediocre Norwalk FFC has some excellent public schools by American North Eastern Standards. Why would you say Rye, Mamoraneck or Scarsdale schools are better then New Cannan, Greenwich or Redding?


When it comes to the roads FFC blows Westchester out of water. I live in Westchester and I like it a lot and would like FFC quality of roads in Westchester.


You said the notion that taxes were based on the assessed value was a myth. You were wrong, that's exactly what they are based on. Now you seem to be agreeing with what I wrote above - that the taxes are not based on market value, and that the assessed value bears no direct relationship to market value.

Here's what you said:
'Property taxes, at least in NY, are based on a home's assessed value', is omnipresent myth of uncertain origin."


Your obfuscation notwithstanding.
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Old 05-20-2016, 09:20 AM
 
811 posts, read 826,394 times
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Quote:
Originally Posted by Nicole K View Post
Hi there. My husband and I are planning to buy a home in either Westchester County or Fairfield County. I am a complete novice to buying a home and am very lost in regards to property taxes. My father in law claims property taxes are much lower in Fairfield County vs Westchester. We are looking in the most expensive towns (we want good schools), i.e. Westport, which I know have the highest rates in CT but how do they fare compared to Westchester County? Say, Larchmont or Bedford as examples.
I know it varies by town, but I am just trying to get a general sense. I cannot seem to find a clear answer online. How do you find out current property tax rates? Is there a website? Do you have to contact the town? Like I said, I am completely new to all of this as I have been a renter my whole life. Thank you!
We did the Westchester vs. Fairfield county comparison exhaustively (I'm from Westchester and my wife from Fairfield) and found it very interesting that the wealthiest Westchester towns have the highest taxes vs the wealthiest Fairfield towns have the lowest. Overall, CT schools encompass slightly larger areas comapred to Westchester's somewhat bizarre seperate school districts every village, town, township, city, unincorporated area, etc. This and the fact that CT doesn't operate county governments the way Westchester does are some of the reasons I belive FFC has such lower taxes. Obviously you will see a differential in price however. For example, we were Rye vs Darien as we wanted a place easily commutable to Manhattan, not land locked, and the best schools.

Check out similar sized properties and look at the tax history of each on Zillow to get a good comparison of price difference vs. tax difference. In FFC I believe Greenwich, Darien, New Canaan and Westport have some of the lowest taxes in the state and some of the best schools as well. This site has a good summary of mill rates for CT: CT Mill Rates | CT Property Taxes | Connecticut Mill Rates
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Old 05-20-2016, 09:26 AM
 
811 posts, read 826,394 times
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Quote:
Originally Posted by neil1973 View Post
GE is moving their HQ to Boston - this is a big deal, whether you want to downplay it or not.
Yes but the towns in CT most effected by GE's move are probably not the towns being considered by someone comparing Westchester vs. Fairfield; the New York commuter towns are somewhat immune to in-state job losses (except for maybe at the hedge funds).
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Old 05-20-2016, 10:02 AM
 
785 posts, read 856,983 times
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Quote:
Originally Posted by allanny13 View Post
We did the Westchester vs. Fairfield county comparison exhaustively (I'm from Westchester and my wife from Fairfield) and found it very interesting that the wealthiest Westchester towns have the highest taxes vs the wealthiest Fairfield towns have the lowest. Overall, CT schools encompass slightly larger areas comapred to Westchester's somewhat bizarre seperate school districts every village, town, township, city, unincorporated area, etc. This and the fact that CT doesn't operate county governments the way Westchester does are some of the reasons I belive FFC has such lower taxes. Obviously you will see a differential in price however. For example, we were Rye vs Darien as we wanted a place easily commutable to Manhattan, not land locked, and the best schools.

Check out similar sized properties and look at the tax history of each on Zillow to get a good comparison of price difference vs. tax difference. In FFC I believe Greenwich, Darien, New Canaan and Westport have some of the lowest taxes in the state and some of the best schools as well. This site has a good summary of mill rates for CT: CT Mill Rates | CT Property Taxes | Connecticut Mill Rates
Comparing mill rates across towns is only a useful tool if assessments are consistent throughout the state. I don't know if they are or not in CT, since I don't know who sets assessments in CT, nor do I know how they are formulated.

For instance if two towns both have a mill rate of 30, they may not have the same level of taxes if one town has low assessments, and the other does not. Its always better to look at what is actually paid as opposed to mill rates or tax rates for this reason. I am in NY, and my home has an assessed value of $166,666, even though if I sold it today I would get many multiples of that number. Similar homes in my town have similar assessments, so everything is more or less fair. If the town raised all assessments to match market value everyone would still have the same tax bill. The assessor would just simply drop the mill rate. That's why the mill rate, in a vacuum, is rather meaningless, unless the State you are looking at has a uniform assessment system.
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Old 05-24-2016, 09:14 AM
 
56 posts, read 58,985 times
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Quote:
Originally Posted by bg7 View Post
You said the notion that taxes were based on the assessed value was a myth. You were wrong, that's exactly what they are based on. Now you seem to be agreeing with what I wrote above - that the taxes are not based on market value, and that the assessed value bears no direct relationship to market value.

Here's what you said:
'Property taxes, at least in NY, are based on a home's assessed value', is omnipresent myth of uncertain origin."


Your obfuscation notwithstanding.

I'll give you a benefit of the doubt since you do not comprehend, or do not want to comprehend the meaning of my reponse, I'll try to illuminate things for you one more time.


If you go back and read the sentence I have responded to: "Property taxes, at least in NY, are based on a home's assessed value, which may or may not jive with its present-day selling price."

- then it should not be difficult for you to relate that I am negating posibility that the property taxes in Westchester jive with its present-day selling price, by referring to such ideation as the omnipresent myth of uncertain origin - not based in reality and certainly not based on market value.


On the other hand if you say that property taxes are based on tax assessment, what are you really saying? Without identifying elements of tax assessment it is like saying: Tax assessments are exactly based on tax assessment.


Furthermore, if you do not know what tax assessment criteria consists of then you do not know if XK of dollars that one is required to pay for property taxes is based on tax assessment. In order to know that you need to be capable to actualy calculate it based on objective criterias tax assessment consists of. If you are not capable of doing so then how do you know that the amount of money billed to you is actually based on tax assessment when you do not know what exactly tax assessment is??
You can explain this if you like. Anyway my point is that certainly Westchester tax assessment is not based on market property values.
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Old 05-24-2016, 09:35 AM
bg7
 
7,696 posts, read 9,369,630 times
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Quote:
Originally Posted by MeaningIntheMeanwhile View Post
I'll give you a benefit of the doubt since you do not comprehend, or do not want to comprehend the meaning of my reponse, I'll try to illuminate things for you one more time.


If you go back and read the sentence I have responded to: "Property taxes, at least in NY, are based on a home's assessed value, which may or may not jive with its present-day selling price."

- then it should not be difficult for you to relate that I am negating posibility that the property taxes in Westchester jive with its present-day selling price, by referring to such ideation as the omnipresent myth of uncertain origin - not based in reality and certainly not based on market value.


On the other hand if you say that property taxes are based on tax assessment, what are you really saying? Without identifying elements of tax assessment it is like saying: Tax assessments are exactly based on tax assessment.


Furthermore, if you do not know what tax assessment criteria consists of then you do not know if XK of dollars that one is required to pay for property taxes is based on tax assessment. In order to know that you need to be capable to actualy calculate it based on objective criterias tax assessment consists of. If you are not capable of doing so then how do you know that the amount of money billed to you is actually based on tax assessment when you do not know what exactly tax assessment is??
You can explain this if you like. Anyway my point is that certainly Westchester tax assessment is not based on market property values.


Its odd to attempt to condescend when you were so obviously wrong when you said:
'Property taxes, at least in NY, are based on a home's assessed value', is omnipresent myth of uncertain origin."



They are not based on market value. That's the myth, that they are based on market value (see the very first post after your incorrect myth statement telling you that....) . That they are based on assessed value isn't "a myth", its the actual fact.


You've now dug a on-the-internet-forever hole of posts only to end with the statement "Anyway my point is that certainly Westchester tax assessment is not based on market property values". Congrats on finally getting there in the very last sentence of your last post.
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Old 05-24-2016, 09:55 AM
 
2,005 posts, read 1,760,973 times
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Property taxes in Westchester are higher, but in the CT towns with good schools, house prices are a little higher. Overall, I think your cost of living might be higher in Westchester but it really averages out. Both have beautiful areas and both have iffy areas...

Pros to CT: nicer beaches, greener, more pleasant with a little more leg room

Pros to Westchester: closer to airports and city.

One thing to note: CT highway traffic is way worse than traffic in Westchester

Last edited by SeaDoo342; 05-24-2016 at 10:05 AM..
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Old 05-24-2016, 10:20 AM
 
Location: New York
1,170 posts, read 746,419 times
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Background - We looked at Greenwich, Cos Cob, parts of Stamford and settled on Westchester ultimately.

This may be subjective, but we generally found that in Westchester the home prices were lower for comparably sized/aged homes and that there were many more single house options available in our budget in Westchester. The Greenwich/Cos Cob market seemed to be mostly made up of condos or very small individual lots. In CT, we observed that taxes were significantly less (around 10k on average) than comparable homes in Westchester. However, home prices were, on average 100k-200k higher for comparable properties, condo or otherwise in Greenwich in what could be considered the 'good' area/school district. The Stamford market had more single family homes, but other factors such as relative commute time and traffic became a concern. There are a number of lesser-priced homes on the Greenwich/Port Chester border, we discovered and most of these make use of the Port Chester rail station. We saw a similar phenomenon with homes in Westchester situated close to White Plains and Yonkers.

There are subjective factors as well obviously, but if you're comparing apples to apples, I view it as more of a financial consideration as to whether you are willing to put down the necessary cash up front for the CT home you want as opposed to spreading it out in Westchester on higher taxes.
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