House of the Day: 1407 Dorchester Road
When we first highlighted it as an Open House Pick back in May, the modest-sized house at 1407 Dorchester Road in Ditmas Park West was asking an ambitious $1,100,000. Almost five months later, the owners have lowered their sights and are now asking $950,000. We think the house has a nice vibe to it but…
When we first highlighted it as an Open House Pick back in May, the modest-sized house at 1407 Dorchester Road in Ditmas Park West was asking an ambitious $1,100,000. Almost five months later, the owners have lowered their sights and are now asking $950,000. We think the house has a nice vibe to it but don’t know this block well enough to hazard a guess whether this price will fly. (Okay, we’ll hazard a guess that the price is still too high.) There was an open house yesterday. Did anyone stop by?
1407 Dorchester Road [Mary Kay Gallagher] GMAP P*Shark
Open House Picks 5/4/07 [Brownstoner]
Still sitting at $899k.
Still evidently overpriced.
Sounds good to me….
Price is down to $899,000 no need for a mansion tax now. http://marykayg.com/html/0500.html
Maybe brownstoner can start a forum thing on the mansion tax.
Re: “where the mansion tax came from or why it still exists?”
Like any tax, once it’s in the law it’s hard to get rid of it because you’d have to cut spending, tax someone else, or increase deficits. Like the AMT it was intended to tax the rich, but not indexed for inflation and now hitting more regular folks. Became state law in ’89. I found that there is bill to amend it:
http://assembly.state.ny.us/leg/?bn=A08534
“It maintains the current baseline level
for the triggering of the Mansion Tax at $1 million dollars, but
increases the baseline to $1.75 million for New York City.”
That would be an improvement and help everyone buying houses between $1 mil and $1.75 mil NYC. My opinion is it should be progressive (tax the amount over x million by y %) rather taxing the whole amount if it’s over the threshold. I don’t know Albany politics but I think if Shelly Silver wanted this amendment to pass he could make it happen.
That would be an improvement and help everyone buying houses between $1 mil and $1.75 mil NYC. My opinion is it should be progressive (tax the amount over x million by y %) rather taxing the whole amount if it’s over the threshold. I don’t know Albany politics but I think if Shelly Silver wanted this amendment to pass he could make it happen.
Soho is the coolest! It is still 1968, isn’t it?
I agree…anyone know where the mansion tax came from or why it still exists?
I wish I had a McMansion upstate. I’ve spent the last seven years living in an $800,000 crawl space in Park Slope.
Good point, 5:51; buyers of average houses in NYC paying a surcharge so that upstaters in $600,000 McMansions can send their kids to better schools!
At least they dropped it to under a mil, so that takes another 10k of mansion tax off for a buyer. I’m curious I don’t see discussion of that. Seems stupid for the state to add a 1% / 10k penalty for people buying a very average house in NYC if they pay just over rather than just under a million. When the tax was passed a million could buy a mansion in Brooklyn. Not any more. A 2% tax on the difference between $1 million and the purchase price would make more sense.
Sure you wouldn’t. Thanks for the laugh.