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May 8, 2009
Brooklyn Property Tax rates
How is this computed? For a new construction (1535 sq ft) says the estimated monthly taxes are $1730 per.. thats $20,760 a year.. that seems ridiculous ?!
Comments
Sounds about right. You have to subsidize the folks with $2-1/2 million mansions paying $3000 a year cuz their tax rate is based on when their house was in the ghetto.
Posted by: tybur6 at May 8, 2009 3:35 PM
tax rates are usually quarterly - so if you multiply the tax rate x 4 you should be around the annual rate (except that it frequently increases in july)
Posted by: rickintheridge at May 8, 2009 5:57 PM
Are you sure it's not per year?
Posted by: mopar at May 9, 2009 1:04 AM
His monthly tax is correct for a new condo construction. although it won't go into effect some 10 years after he buys the condo.
a friend bought a new condo thats over 2000 sq feet. he is paying a very low yearly tax at this time (something like $80 per quarter). however, in 10 years this tax abatement of some sorts will be over and his taxes will go up to around 20k per year.
i would highly suggest that you speak with a lawyer to explain in detail exactly what the taxes will be in the future.
Posted by: landlord at May 9, 2009 8:46 AM
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