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Because I'm cheap and psychologically don't like the idea of paying someone else's school taxes? And... it's not jeopardizing at all? I never let the inspectors in. My parents did it all their life, so am I going to. It's free money. We have 2500 SQFT to ourselves. If I rent out the basement, I'll have 1700SQFT left, and even then!!! what am I going to do with all that space?
You don't really have that square footage to yourselves. Strangers are wandering in and out of your property at all hours and keeping tabs on you.
This thread has wandered into ridiculousness, and I don't know what's real anymore. I think anyone stacking the kind of paper you claim wouldn't go through so much bother and break the law for $1,200.
FWIW, investing in multi-family housing is more profitable and it's completely legal.
My net mortgage payment is 1.1k. My primary income is 9.5k/mo. My wife also makes 6k/mo after tax.
How on earth do you expect us to foreclose? Hurricane Katrina? Atlantic Ocean trench breaks and causes 1mile high tsunami?
We save ~14k/mo. Technically 13k after other expenses. Every month worked is literally a year+ of mortgage payments if were to go unemployed.
In a few months, I will be buying another property here because we are literally shi*ing cash. No point to waste it if we are going to have another housing crisis later on. Better to be the ones selling than buying in the crash.
My parents did this and they are stacking. I'm telling you how the real world is and a lot of people get upset. Funny. I dont drink out, we eat in food. Even if I had 10M I wouldnt eat out. I am simply cheap, and was raised that way
are you buying properties and then renting them all?
People always complain about taxes, but what you guys dont get is this.
Hard facts:
Income: 150k in NYC <-Thats 9k/mo after tax
House Price: 350k <- That's 1700/mo after 0% down -> 0.4k is given back to you if first time home.
Property Tax: 4.7k after star, 6k/yr <- Put plywood on windows , rip off floors, grieve it down to 6k from 10k.
Home Insurence: 1k/yr
Basement Rental Income: 1200. Show the middle finger to the town. It's your house, not the town. If they want to make taxes high, you fight them with by giving them more kids in schools. Remember, overcrowding is NOT your problem.
Bills: 150/mo insulate house and convert to Natgas.
LIRR ticket: 250/mo + 70 MTA = 320
Boys.... and.... Girls....
In which city can you take home ~8000 of your income doing a basic 9-5 job while paying off your house?
If you want to leave, by all means, leave.
Put plywood on the windows and rip out the floors to grieve your taxes down? WTF?
More kids in the schools? Your kids or your illegal tenants kids? What will happen when the school sees so many unrelated kids with the same address in a single family house? As others have said, the rental income may be a much greater headache than it’s worth when the town eventually finds out.
There are levels to cheapness and you sir have reached one of the highest levels.
Put plywood on the windows and rip out the floors to grieve your taxes down? WTF?
More kids in the schools? Your kids or your illegal tenants kids? What will happen when the school sees so many unrelated kids with the same address in a single family house? As others have said, the rental income may be a much greater headache than it’s worth when the town eventually finds out.
There are levels to cheapness and you sir have reached one of the highest levels.
But...but...but...despite living in what looks like a run down shack you get to save $4K a year!
$150k is not $9k after taxes. How many exemptions are you claiming on your w4?
Prove me wrong and show me the paystub showing that you reached maximum SS payments for the year including the date. Prove us wrong, I bet you don’t even know what I’m referring to.
8915.69 is my take home. 3 dependents and no, I am not uploading my direct deposit stub. You don't have to believe me. This is the internet and everyone has an opinion, including yourself about how much I take home.
Put plywood on the windows and rip out the floors to grieve your taxes down? WTF?
More kids in the schools? Your kids or your illegal tenants kids? What will happen when the school sees so many unrelated kids with the same address in a single family house? As others have said, the rental income may be a much greater headache than it’s worth when the town eventually finds out.
There are levels to cheapness and you sir have reached one of the highest levels.
I would pay the property taxes if they were reasonable. But... because our county officials do not have a single clue how to run a county, I'm not paying them more than they should deserve.
Property Tax should be 0.8-1.1% of home assessment, just like in most places in the world including NYC. BUT WHO WILL PAY FOR THE SCHOOLS? How about including all of the basement, cape, and garage tenants as well. How about the family that has 15 people in it living together.
Each working adult individual should contribute their fair share. The county doesn't want to do this because they are braindead and can't crunch the numbers to make it work right. NYC has done it, and so has every other city.
Instead of taxing tourists, they tax residents. How funny. Once again, I (and other property owners) should not and will not suffer because we have morons running the towns and morons re-electing them thinking their dumb kids will turn into Einstein by having well payed teachers. It's a never ending cycle that will only get fixed if the NYC renter population overfloods the county, which is slowly happening. Deblasio and Cuomo are already making an overhaul at Freeport. Slowly, the party is coming to an end.
8915.69 is my take home. 3 dependents and no, I am not uploading my direct deposit stub. You don't have to believe me. This is the internet and everyone has an opinion, including yourself about how much I take home.
What week and month does your paystub state you no longer pay for SS benefits?
I would pay the property taxes if they were reasonable. But... because our county officials do not have a single clue how to run a county, I'm not paying them more than they should deserve.
Property Tax should be 0.8-1.1% of home assessment, just like in most places in the world including NYC. BUT WHO WILL PAY FOR THE SCHOOLS? How about including all of the basement, cape, and garage tenants as well. How about the family that has 15 people in it living together.
Each working adult individual should contribute their fair share. The county doesn't want to do this because they are braindead and can't crunch the numbers to make it work right. NYC has done it, and so has every other city.
Instead of taxing tourists, they tax residents. How funny. Once again, I (and other property owners) should not and will not suffer because we have morons running the towns and morons re-electing them thinking their dumb kids will turn into Einstein by having well payed teachers. It's a never ending cycle that will only get fixed if the NYC renter population overfloods the county, which is slowly happening. Deblasio and Cuomo are already making an overhaul at Freeport. Slowly, the party is coming to an end.
Property taxes are that rate in certain areas like Great Neck & Manhasset but you won’t find any $300k-400k houses there.
If you lived in NYC, you would also pay a ~4% NYC Income tax.
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