Open House Picks
Park Slope 237 8th Street Brown Harris Stevens Sunday 12:30-2:30 $1,295,000 GMAP P*Shark Vinegar Hill 13 Evans Street Corcoran Sunday 1-2:30 $1,275,000 GMAP P*Shark Beverley Square East 424 East 18th Street Mary Kay Gallagher Sunday 1-3 $965,000 GMAP P*Shark Bedford Stuyvesant 176 Bainbridge Street Douglas Elliman Sunday 12:30-1:30 $650,000 was $695,000 GMAP P*Shark
Park Slope
237 8th Street
Brown Harris Stevens
Sunday 12:30-2:30
$1,295,000
GMAP P*Shark
Vinegar Hill
13 Evans Street
Corcoran
Sunday 1-2:30
$1,275,000
GMAP P*Shark
Beverley Square East
424 East 18th Street
Mary Kay Gallagher
Sunday 1-3
$965,000
GMAP P*Shark
Bedford Stuyvesant
176 Bainbridge Street
Douglas Elliman
Sunday 12:30-1:30
$650,000 was $695,000
GMAP P*Shark
Goodoleboy — As a side note, you don’t think I pay property taxes when I give my landlord a check each month?! The fact is that my landlord pay property taxes at a MUCH higher rate than 0.18% and that is passed on to me.
Why should you get a tax break?
The fact is that the assessment values are trapped in some sort of weird legislative amber! If the property changes hands at, say, $1.25 million, it should not retain the assessed value of 1954. Simple as that.
“i do think if i buy a $1.2million dollar house, than i should pay taxes that reflect that. why is this the only place in the country that doesn’t seem to agree?”
Is there any other place in this country that has the percentage level of state and city income tax that NYC does? Local government has decided to use income taxation rather than property taxation as a main basis for providing services.
There is an injustice in a $2200/yr tax in a place like Park Slope, but it’s a different one. It’s the fact that you might pay $6000/yr on a house worth half as much in, say, Mill Basin. The NY Times has done stories on this.
The reason for it? Property tax increases are capped. Why not remove the caps? Then someone who lived in their house in a gentrifying neighborhood for 50 years finds they’ve got a working-class income, or a fixed Social Security income, and a $1.2M house that they can’t pay the taxes on. What do they do?
One solution is to try to focus a tax only on people who have high incomes. How? With… an income tax! Which also makes sense, revenue-wise, in a city mostly composed of renters.
I bet the PS sellers have visions of their bubble-buying neighbors at 239 8th street ($1.8m).
Personally I don’t care for how the street backs up to the post office lot (truck traffic?). But they say kitchens sell, and this one will. I guess you won’t be needing the back access to Mickey D’s with all that good cooking. Also for some reason the koi pond gives me the creeps.
Im seeing an ask about $650/sf (2000sf? – 18x30x3 plus extension?), new reno. Rich, but i guess they might get there with that kitchen. I still don’t like the post office trucks, though.
” I’d be suprised if tyburg/funkeymonkey pay as much tax, in general, as someone who buys the PS house.”
i just don’t think because someone earns more than i do and pays more in income tax, they’re therefore entitled to a tax break on their home. silly argument.
the corruption argument is fair and the MTA is a big, fat fiasco of an agency, but i do think if i buy a $1.2million dollar house, than i should pay taxes that reflect that. why is this the only place in the country that doesn’t seem to agree?
“So, that’s what… a 0.18% tax rate? The owners of that house shouldn’t be allowed to use the public school system (or vote).”
T6, to afford a 1.25 million house you’re probably looking at a couple with an income of 250k at least. Check out what they would pay in city tax. And state tax. And sales tax.
The guvment has decided that an ownership society is a better society. If I were you I’d rail about the mortgage interest deduction and capital gains exclusion. We (homeowners)are just responding to the incentives that we’re given by the guvment in its infinite wisdom.
DIBS – I won’t disagree with your about the mismanagement and waste in government. (I’ve even argued for devolution of NYC back into it’s component parts to have units that could reasonably be handled by a city council.)
I’d also argue that the State and Local *income* taxes are too high for some and need to be restructured (and, basically, simplified).
HOWEVER, you can’t tell me that $2,200 a year on a property worth well over $1,000,000 makes any sense whatsoever. There’s no way that amount could ever begin to cover the services provided to the “typical” resident of that home.
The only way income taxes in this city could be fixed is if there was a MAJOR overhaul of property taxes. This absurdly low rate should not *transfer* to a new owner!! The property should be FRESHLY assessed at the sale price (with obvious exceptions for a family member or whatever).
Price tags may very well be suppressed, but I don’t see that as a bad thing if property taxes are brought in line with reality. This fiscal crisis should be the OPPORTUNE time for our legislature to broach this topic… plenty of political cover.
DIBS is correct on the MTA – “The MTA is a mess because of mismanagement, not because there isn’t more money to subsidize the morons that run it.”
Want evidence? They just yesterday announced service cuts to save $92m this year. Meanwhile, they thought it was okay to sell the Atlantic Yards for $100m, over $100m less than the site was appraised for. Not trying to open a pandora’s box on AY, but I can do the math on that one and figure out that if they didn’t give Ratner a sweetheart deal, they’d have that $92m and then some.
Right on DIBS. I’d be suprised if tyburg/funkeymonkey pay as much tax, in general, as someone who buys the PS house. Considering they probably make a decent salary, with ridiculous fed, state, local, city taxes. Not too much I would imagine they consume more than the most, which would also mean they pay more sales tax. So, when you think about tyburg/funkeymonkey, maybe y’all shouldn’t use the schools, or the hospitals, or the subway. Do you really think that the RE tax is hurting you?
you’re right, dave. but the only answer to that argument is to pack up and leave the country. but corruption is everywhere, so you can’t escape it.
and it does seem absurd that taxes for a $600,000 house in nj with great schools is $12K. just seems like property taxes here aren’t commensurate with the infrastructure needed to support the people that live here. and while higher property taxes wouldn’t solve the problem, if there were more money to go around then maybe some of it would trickle down to where it belongs, like the schools.