Nothing is Certain But...
Property taxes will rise for all residential and commercial properties for fiscal year 2011, which begins July 1, according to a tentative assessment released by the city’s Department of Finance on Friday. According to the city, the total market value of property in the city, including new construction rose 0.12% to $796 billion. New York…
Contrare DIBS unlike you, I did not buy something I knew I could not afford and would try to sell at a speculative profit if possible to then hope my fellow tax payers would chip in and help me hold on to my overpriced home. Yes Dibs I am a jackass but when jackasses like me start buying forclosed homes cash reality will hit you. I know Dibs you feel stupid only now for buying into the housing bubble but that doesn’t mean you have to be a jerk with the wiser people speaking the truth. “The meek shall inherit the earth” not the greedy and the speculators like you.
tybur6, you are so right on. Hannible, I agree with daveinbedstuy for once.
hannible, your probably the biggest jackass on this whole blog.
Your sense of entitlement and the thug approach you have outlined suggest to me that you’re a real lowlife.
Wanna bet dibs? My landlord better not even come within 10 feet of “my” door or else he is going to see how fast a man can walk over steps without ever touching them! This was all apart of Bloombergs gran plan. Make people with welfare checks buy homes increase the value and then sock them with the taxes. My landlord is still lucky I send him a check. All he has to do is open his mouth and he can kiss that check goodbye too. what can they do to people like me? write me for a bad credit report? Well maybe I can get a free house then because having a great credit report doesn’t get you anything in this country anymore. Oh how the mighty have fallen. We need H. Hoover again.
Oh — and guess what, YES, this absolutely would affect the sale price of property!!!!! And it should! Property tax should be taken into account. But if the taxes on a huge house are ridiculously low, they aren’t. So they can charge an extra 1/4 million. That’s a 1/4 million going to the owner… not to the city (over 30 years). Ridiculous.
This is why I have advocated on here FOR A LONG TIME… that taxes should be REASSESSED when the property changes hands. If it’s kept in a family, then fine… the grandkids can enjoy the $2300 tax bill. But if the house is sold for $2 million and the new owner is STILL paying $2300… then something is MAJORLY WRONG.
The tax bill should not be a selling point. There is no clearer assessment of a house’s “value” than the price it sells for. But that’s not the basis of the property tax rate. It’s some value from a century ago. Effing retarded.
You should be able to compute the property tax of a house on the back of an envelope!! It costs X, multiple time X.XXX%
City tax laws put per year limits on how much the assessed value can go up, to avoid jarring increases. So many properties that appreciated greatly during the boom have assessments that are continuing to catch up and that are still below where they should be, even if recent values have come down a bit.
I’m a homeowner, not wealthy by City standards, and I have no complaint.
i have a tax abatement, but personally, i don’t believe in any affordable housing or welfare or projects, so i’d be fine if they eliminated that incentive.
however, i do believe that you end up paying more for a place with a tax abatement, ie: no free rides.
was income tax then sales tax and now property tax. water, sewage, etc are forthcoming. expect this to repeat again each yr for the next few yrs (or even more).