$1000+ School Tax Increase?? Is that normal? (New York, York: credit, public school, contractor)
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After school programs are off topic. The point is taxes are based on assessments and total tax base. If your neighbor wins a grievance, YOUR taxes go up. If your house declined LESS than your neighbor's, YOUR tax goes up. If sales tax revenues come in below projections, YOUR tax goes up. You can vote for .00001% increase and your taxes can go up 10+% with ease. Welcome to Long Island! This includes school taxes. There is a fixed amount of revenue to be collected. If someone pays less, someone else pays more!
What exactly is the unit/region for this zero-sum game? Is it the whole school district, some sub-division of the school district or what?
In other words - should I care if my immediate neighbors are active grievers or what % of the whole school district files and wins?
For example, there are hot spots - streets/blocks around that have higher percentage of elderly with lower taxes. Does that affect the immediate houses around those hot spots or is the burden distributed through the school district?
Also, from Zillow (you may not take it seriously for anything but in all fairness is a good source of information otherwise not easily available), one can see that in certain "hot spots" again people are much more persistent in grieving and winning every 2 years, while in others people do not seem to grieve their taxes (or if they do - they do not win).
I can see also incentive for long-term occupants to never close permits on extensions and improvements to their houses to avoid the insane taxes - and the bill paid by the honest ones who follow the rules.
For example, there are hot spots - streets/blocks around that have higher percentage of elderly with lower taxes. Does that affect the immediate houses around those hot spots or is the burden distributed through the school district?
The property tax burden burden is distributed throughout the entire taxing district.
The property tax burden burden is distributed throughout the entire taxing district.
Thanks, Walter!
So, taxing district == school district?
I am confused to see at different locations within the district, the same "tax assessment" value corresponding to different property taxes. Guess,
STAR and prior grieving may lead to that...
Thanks, Walter!
So, taxing district == school district?
Yes, the school district is one of the many taxing districts that a property is located within.
Property taxes are the sum of the property tax levied by up to 20 or so taxing districts in which the property is located. These taxing districts are the county, town, village, if in a village, school district, library district, fire district, water district, sewer district, police district, police headquarters district, park district, parking district, highway district, lighting district, etc., etc., etc.
Each of these taxing districts passes a budget, some by a vote of the residents of the taxing district and others by the governing board of the taxing district.
The budget is then divided by the sum of the assessed value within the taxing district to arrive at the property tax rate, which is then applied to each individual property within the taxing district to calculate that property's tax bill for that specific property.
Do this for all the 20 or so taxing districts that a property is located in and sum these 20 or so property tax bills to arrive at the total property tax bill for that property.
Repeat the next year to calculate the next year's property tax bill, and so on and so on ...
Oh my...
Translated - it is close to impossible for me to know which houses around me have the exact same tax rate(and share the exact same burden) since I need to know the intersection of the 20 or so sets you are talking about.
But it's safe to assume that the ones that are the closest - on my street, my block - are most likely to be taxed at the same rate as me and to share the same burden...
It is logical to conclude that it is beneficial to have less neighbors grieving their taxes .
Though, with the school taxes forming the bulk of the taxes - maybe variations from sharing the other 19 entities are not too significant...
thanks again.
Quote:
Originally Posted by Walter Greenspan
Yes, the school district is one of the many taxing districts that a property is located within.
Property taxes are the sum of the property tax levied by up to 20 or so taxing districts in which the property is located. These taxing districts are the county, town, village, if in a village, school district, library district, fire district, water district, sewer district, police district, police headquarters district, park district, parking district, highway district, lighting district, etc., etc., etc.
Each of these taxing districts passes a budget, some by a vote of the residents of the taxing district and others by the governing board of the taxing district.
The budget is then divided by the sum of the assessed value within the taxing district to arrive at the property tax rate, which is then applied to each individual property within the taxing district to calculate that property's tax bill for that specific property.
Do this for all the 20 or so taxing districts that a property is located in and sum these 20 or so property tax bills to arrive at the total property tax bill for that property.
Repeat the next year to calculate the next year's property tax bill, and so on and so on ...
Oh my...
Translated - it is close to impossible for me to know which houses around me have the exact same tax rate(and share the exact same burden) since I need to know the intersection of the 20 or so sets you are talking about.
But it's safe to assume that the ones that are the closest - on my street, my block - are most likely to be taxed at the same rate as me and to share the same burden...
It is logical to conclude that it is beneficial to have less neighbors grieving their taxes .
Though, with the school taxes forming the bulk of the taxes - maybe variations from sharing the other 19 entities are not too significant...
thanks again.
To figure out your taxes at any given time on L.I. is quite simple...just use the county's formula.....f(x) = ax^3+bx^2+cx+d
In other parts it's not as simple.. We have to x(times) the current assessed value of your home by your tax rate (.90%) An Example 350,000 x .90 = 3,150.
That's your total tax!
Simplify to its simplest form....even a third grader could figure it out.
To figure out your taxes at any given time on L.I. is quite simple...just use the county's formula.....f(x) = ax^3+bx^2+cx+d
In other parts it's not as simple.. We have to x(times) the current assessed value of your home by your tax rate (.90%) An Example 350,000 x .90 = 3,150.
That's your total tax!
Simplify to its simplest form....even a third grader could figure it out.
Shouldn't it be .009? Your calculation above shows 90%, although I'm sure it will eventualy be that one day.
Shouldn't it be .009? Your calculation above shows 90%, although I'm sure it will eventualy be that one day.
Quote:
Originally Posted by BigMike50
To figure out your taxes at any given time on L.I. is quite simple...just use the county's formula.....f(x) = ax^3+bx^2+cx+d
In other parts it's not as simple.. We have to x(times) the current assessed value of your home by your tax rate (.90%) An Example 350,000 x .90% = 3,150.
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