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Old 05-21-2018, 06:49 PM
 
Location: Putnam Valley, NY
170 posts, read 159,349 times
Reputation: 393

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Quote:
Originally Posted by allanny13 View Post
Where in Westchester has low taxes

Nowhere. That's not even addressing the schools.


The best you're likely to do is Katonah-Lewisboro. There are some deals (lower house prices and proportionately lower taxes) in some of the more remote fringes of the district. It's not Scarsdale/Edgemont but #28 in the state is nothing to sneeze at, and it still beats out Mamaroneck, Harrison, Blind Brook...


You really have to leave Westchester to escape high taxes though.
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Old 05-23-2018, 03:29 PM
 
40 posts, read 59,642 times
Reputation: 37
Quote:
Originally Posted by terps530 View Post
Hi- I registered on city data because of this thread! I'm shocked- not to say you are complaining, but it's just hard for me to wrap my head around having spending issues on that kind of income. My wife and I gross 1/4th of that, live in Tarrytown with 2 kids, and live comfortably. We are not saving nearly like you are, and I wish we were, but we still have good 401k investments and other investing/savings going.

Now I skipped one or two pages so maybe it was said, but just looking at the above numbers:

you have $8400 a month that goes into savings/investments.
Note: that is over $100,000 a year of savings. Half, or more of that gets invested and grows and grows and grows.

You can have passive income making you a reasonable salary in 5-10 years based on that savings, and it will just get exponentially larger.

Maybe it's just a different tier of living that I am not exposed to, but there is so much spending and savings with that type of income.
Sign up for Mint or some budget/spending tracking software and see how well you are doing...

Trust me, I get how you could be so stunned by what I said that you were driven to register for the forum.

Couple things: First, do you send your kids to Tarrytown schools? Do you like them? That leads directly to my second point/question, which is: You missed the part of my post where I said that relocating to a "fancier" school district will wipe away basically all of our liquidity and a third of our future savings. Say goodbye to that burgeoning passive income. We'd be really well-off if we stayed in our current home, in a middling district. My point was that trying to push into one of the top schools districts will eat away at our lifestyle--and I find that utterly maddening considering what our HHI is.
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Old 05-23-2018, 05:28 PM
 
127 posts, read 154,524 times
Reputation: 193
Quote:
Originally Posted by demographer View Post
Trust me, I get how you could be so stunned by what I said that you were driven to register for the forum.

Couple things: First, do you send your kids to Tarrytown schools? Do you like them? That leads directly to my second point/question, which is: You missed the part of my post where I said that relocating to a "fancier" school district will wipe away basically all of our liquidity and a third of our future savings. Say goodbye to that burgeoning passive income. We'd be really well-off if we stayed in our current home, in a middling district. My point was that trying to push into one of the top schools districts will eat away at our lifestyle--and I find that utterly maddening considering what our HHI is.
If you want the snob appeal of the 'top' districts then you have to pay for it. That's the whole point. It sounds like you could live a cushier life in your current district with room to spare.
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Old 05-23-2018, 07:51 PM
 
286 posts, read 227,372 times
Reputation: 323
Quote:
Originally Posted by demographer View Post
middling district
Can you disclose which one?
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Old 05-24-2018, 07:09 AM
 
4,866 posts, read 2,288,442 times
Reputation: 11254
In my experience, a child's school success comes down to genetics rather school districts.

A great school district could help an average child do better. However, the same average child could get lost in the crowd in a great school district. All an average child needs is a few teachers who believe in him/her. The course work is determined by the regent exams. All students, regardless of district, learn the same material.

An average Westchester school system is probably better than most of the country and an average Westchester school district isn't going to hurt a bright student.

If your main concern is schools, do what I did. I sent my children to parochial schools and then to Archbishop Stepinac High School. I did this on a factor of your income and never regretted spending a cent of it.
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Old 05-24-2018, 07:21 AM
 
40 posts, read 59,642 times
Reputation: 37
Quote:
Originally Posted by ironlex View Post
Can you disclose which one?

White Plains. My kids are young and I should note that so far we find the teaching to be excellent. But there's a lack of extracurriculars at the elementary level compared with other districts, and the looming feeling that resources are just tight, with so much competition for them.
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Old 05-24-2018, 09:49 AM
 
Location: NY
5,210 posts, read 1,508,389 times
Reputation: 3419
A lot of people getting sidetracked about the op's high income. But the main point is that it is hard to make it here for anyone other than the very rich, even if you save nothing and live in a small house and consider a trip to Playland your vacation. A modest house in Scarsdale, for example, could be found for about 800k, which is still a ridiculously high price. The taxes will be close to 20k. It will be on a tiny lot in Edgewood with kitchens and baths from the 70s, and no closets. You don't dare renovate or the tax man will nail you. Scarsdale tax rate is sane compared to anything in Greenburgh, which is a disaster. And all that tax money and you can barely drive on the pothole-plagued roads. Something is very wrong and unsustainable here in Westchester, and I ask myself all the time 'how are people making it?"
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Old 05-24-2018, 09:52 AM
 
1,183 posts, read 590,586 times
Reputation: 3232
Quote:
Originally Posted by kmom2 View Post
A lot of people getting sidetracked about the op's high income. But the main point is that it is hard to make it here for anyone other than the very rich, even if you save nothing and live in a small house and consider a trip to Playland your vacation. A modest house in Scarsdale, for example, could be found for about 800k, which is still a ridiculously high price. The taxes will be close to 20k. It will be on a tiny lot in Edgewood with kitchens and baths from the 70s, and no closets. You don't dare renovate or the tax man will nail you. Scarsdale tax rate is sane compared to anything in Greenburgh, which is a disaster. And all that tax money and you can barely drive on the pothole-plagued roads. Something is very wrong and unsustainable here in Westchester, and I ask myself all the time 'how are people making it?"
"Unsustainable" is a subjective opinion. In fact it has been sustainable - and continues to be so. And house prices are not dropping. As much as we'd all like it to be cheaper, it apparently is not unsustainable at all.
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Old 05-24-2018, 09:56 AM
 
Location: Harrison
853 posts, read 2,309,206 times
Reputation: 485
Quote:
Originally Posted by demographer View Post
White Plains. My kids are young and I should note that so far we find the teaching to be excellent. But there's a lack of extracurriculars at the elementary level compared with other districts, and the looming feeling that resources are just tight, with so much competition for them.
Are you not able to get your kids violin and mandarin lessons at home on your own dime? With all that savings? What are other school districts offering that WP is not?

Personally, I think a lot of things are important at the elementary level, but extra-curriculars are not up at the top of the list. When you get to middle and high school they become much more important. IMHO.
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Old 05-24-2018, 10:05 AM
 
95 posts, read 168,064 times
Reputation: 125
Quote:
Originally Posted by Chint View Post
"Unsustainable" is a subjective opinion. In fact it has been sustainable - and continues to be so. And house prices are not dropping. As much as we'd all like it to be cheaper, it apparently is not unsustainable at all.
This is currently true, however I have trouble believing this in the long-term. The cost of living - especially education and childcare - has far outpaced real wage growth. Many young professionals (people who will be buying these homes in 5-7 years) also have student debt. At some point, these costs become too large a percentage of annual earnings.
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