Well I just got the annual tax bill for property and school. Looks like I gotta cut back on some hunting spending. My taxes went up $1,300 total this year. So now I will be paying $5,300 in property and school tax combined on a .5 acre lot with a 2000 square foot house valued at $267k. Ughhhhh. I hate NY. I can't wait to retire and move!
Well property taxes never go down no matter where you live, so there is that. Still not sure how a $1300 increase could be justified was there a referendum that was approved?
There was a reappraisal and a portion change. It went from an 82% payment to a 100% payment based on assessed value. I told my wife....time to move. I was serious. She got mad. I guess then not an increase in my area. Just an increase for me and a lot of others.
In 23 years I have had the local county pull some BS. The county "bought" a 1/2 acre for road expansion they paid me based on $2000 an acre. I received the check and the next week I got my property tax statement and they taxed me at a value of $2500 an acre. Next they changed my zoning from agricultural to residential that doubled the yearly property taxes. Then they redid the plots using GIS and told me that I had a 1/2 acre less than I paid taxes on for 20 years, no rebate on the extra tax I paid.
Do you have your homestead deduction filed? Only one can be claimed in the US. I work in the assessing field but not familiar at all with NY set up.
NY doesn't have a homestead deduction. They do have a school tax exemption called STAR, however it is only for the first 30k of assessed value and your income needs to be under 500k. Furthermore you may not claim it if you own any out of state property that you claim a " equivalent homestead deduction" on.
I have STAR in place. That saves me $440 a year in taxes. That $5,300 is with the $440 in savings already. What are you guys in other states paying in taxes. Also post your home assessed value if you don't mind. Just curious what other states pay.
I think I pay about $80 an year on 35 acres of land. Not real sure what my property tax is for the 5 acres and home.
Death and taxes:-/ And property taxes never go away. We could be 90 years old and loose our homes because we couldn't afford the property taxes. Messed up. I bought my dream home on the water but sold it a year later when I realized the property taxes would soon be going up to $2,000....... a month It was cool while it lasted.
I pay more than that in taxes for a lot 1/2 that size and a house worth 60K less. Come move to Illinois.
A lot of it depends on the county/town/school district you live in. The house we sold in NY before we left 3 years ago was a starter home appraised at $135k. We paid roughly $4.5k per year on it. The place we are in today in IL is appraised at $285k and we are paying $6.7k right now. Just 5-10 miles down the road where JZ lives it's taxed much higher though.......same county but it's based on different towns and school districts.
I pay 9k/yr in taxes for a house assessed at 290k. 1.7acres and .7 of it is unusable/unbuildable. That is NY for ya
Not over assessed. I think it's about right. Problem is they reapportioned and went from taxing at 82% to 100%. I know it's what's fair. Just the increase is insane I think. But seeing what other people are saying I guess it's not too awful bad. I just gotta get the kids out of daycare ($800 a month). Then I can buy my land. Gotta wait about 2 years.
Well judging by your taxes your in a good school district. That'll all be worth it in the end. Sent from my iPhone using Tapatalk
Appraised at $280k with a tax assessment of $7800. We're on 25 acres so I asked what the extra acreage was costing me and the Listers broke it down and showed that the extra land was costing me $800 a year. (going to keep the land!) We have a volunteer Fire Dept., visits from the County Sheriffs and a regional High Scholl that we bus the kids to. We do at least have some nice views but hate the thought of not being able to afford to retire here.
