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December 2, 2007
Legal 2 Family used as 1
Is there any advantage to changing our house's official status from 2 family to 1? It's seems like there is no tax advantage, and little if any difference in market value used to calculate the tax.
Comments
not worth the money, just use it as 1 :).
Posted by: armchairwarrior at December 2, 2007 10:15 AM
I was told it's better to have it officially classified as a 2-fam even if you use it as a 1-fam, in case you ever sell. Supposedly it's much harder to change from 1 to 2-fam once you've decreased the occupancy.
Posted by: guest at December 2, 2007 10:20 AM
When in doubt do nothing.
Posted by: Ysabelle at December 2, 2007 10:34 AM
going down on a CofO ... easy ... going back up ... tough, long and $$$$$$.
Don;t change! No tax advantage, etc. and bad for resale.
Posted by: guest at December 3, 2007 12:26 PM
Can I hijack this to ask a similar question? What about going from legal 3/4 to 2? I'm looking at one and want to rip out the sprinkler. I think it or fire escape are required for 3 or maybe 4 family. Not sure which. To take it out will we need to change C of O. Will this trigger inspection that will lead to higher taxes?
Posted by: guest at December 3, 2007 1:09 PM
Will you have any problem with Bldg Dept inspector after a substantial renovation that clearly makes it impossible for house to be used as a 2-family?
Posted by: guest at December 3, 2007 6:48 PM
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