Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Bill de Blasio's home in Park Slope is worth $1,000,000 MORE than my home and his taxes are $2,000 a year less than mine. The $1 million isn't the market value of his home, it's how much more his home is worth than mine. Information taken from NYC property tax records as of January 2024.
This is obvious and well known to anyone who owns a home in NYC or those that follow city news. Anyone who doesn’t know doesn’t want to know.
They say inflation is down to around 3% but NYC raised my already high property taxes by 6%. No politician does anything about it or addresses tax inequality where million dollar properties in certain parts of the city get taxed much less than middle class homes worth well under a million dollars.
It's not really a property tax rate increase...it's your effective market value catching up to the real market value of your home (determined by the city). If your effective market value is less than the true market value, it's bound to go up. Over a a 5 yr period it's guaranteed to go up 20% because that's the law. My home is worth 850k, but effective is 500k. I pay 7k this year, but Eventually it will catch up in about 10years and if effective market value maxes out at 850k and property tax remains 20%, my tax will be a little over 10k a year.
Even if my market value crashes, the city can fiddle with tax rate to make up for any housing price crash.
If your effective market value is less than the true market value, it's bound to go up. Over a a 5 yr period it's guaranteed to go up 20% because that's the law. My home is worth 850k, but effective is 500k. I pay 7k this year, but Eventually it will catch up on about 10years and if effective market value maxes out at 850k and property tax remains 20%, my tax will be a little over 10k a year.
Even if my market value crashes, the city can fiddle with tax rate to make up for any housing price crash.
Property taxes will never go down, only up
Property taxes are no longer *cheap* in NYC unless you’re in one of these loophole neighborhoods such as Park Slope. Utility rates are also no longer as cheap as they used to be relative to even LI or NJ.
Bill de Blasio's home in Park Slope is worth $1,000,000 MORE than my home and his taxes are $2,000 a year less than mine. The $1 million isn't the market value of his home, it's how much more his home is worth than mine. Information taken from NYC property tax records as of January 2024.
What's his assessed value compared to yours? You know, this is an issue in gentrifying neighborhoods I find.
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
property taxes are not as much a reflection of inflation as it is local spending ….
heck , those who remember the old poconos ads in every newspaper : WHY RENT WHEN YOU CAN BUY CAMPAIGN SAW what happens to taxes when spending goes off the hook .
monroe county which was the benefactor of the campaign saw taxes sky rocket as schools , hospitals and infrastructure had to be built . taxes rivaled long island after a while
so taxes are a local spending issue
My opinion:
Mortality of Owners continues to play the biggest part in Pocono's failing.
One example of many:
Pike County will lose about 25% of its population within the next 25 years.
Not good for retirees but, and this is a big but.
An affordable alternative for the next generation of young families
longing for an affordable home,not minding not seeing people and willing to do alot of driving.
Mortality of Owners continues to play the biggest part in Pocono's failing.
One example of many:
Pike County will lose about 25% of its population within the next 25 years.
Not good for retirees but, and this is a big but.
An affordable alternative for the next generation of young families
longing for an affordable home,not minding not seeing people and willing to do alot of driving.
Wait and see.............
pike has no where near the taxes they saw in monroe ….we were in pike in tafton near hawley in the tanglwood north development
Have you challenged the valuation? Usually we get something when we do.
Quote:
Originally Posted by martinjsxx
Increased taxes weren't due to increases in property value. The market value of my home went down from last year but the city's property tax system allows them to increased assessed value up to 6% a year which they did.
You're crazy, Park Slope was kinda rough in the '70s and the '80s.
The entire city was *kind of rough* in the 70s and 80s? When has Park Slope not been majority white?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
