Imagine NY with no income tax. (sales, buying, sales tax)

[Gantz]

Originally Posted by mathjak107

We would just have westchester level real estate taxes

If you eliminate the department of social services, you can get rid of income tax and keep all of the rest of the taxes at roughly the same level.

[mathjak107]

if if if and if ….

well it is what it is

[Esacni]

Originally Posted by mathjak107

i would say not even close …my son pays 33k in rye brook …3875 sq ft home , lot 4818 sq ft

a home 2 to 3x the value of his here in whitestone is a fraction of that.

taxes on my old home in key garden hills which is valued at a million is about 8600 a year in taxes

a two bedroom apartment in a condo in a high rise we were looking at in hartsdale was the same as our old single family home in taxes

You have to compare apples to apples. A lot of NYC is grandfathered in but any newish construction is not so cheap anymore. It’s about $10K for 1K sq ft.

Add the 3% city income tax and you’re not far off. Taxes on your old home have gone up as well I’d bet. My parents house is valued at around $900K in BK but taxes went up this year to $9800.

[mathjak107]

my old house shows between 8-9k today.

but we are still no where’s near westchester or even parts of long island.

my son went to contract on a slightly bigger house in the same town .

it fell apart at the last minute but taxes were 41k.

after the deal fell apart they took it off market

https://www.redfin.com/NY/Rye-Brook/...home/180233151

[leadfoot4]

Originally Posted by Thundarr457

Imagine NY with a Republican mayor of NYC, governor, assembly and senate.

I can imagine it, but I highly doubt that it would EVER happen. The NYC liberals keep voting Dem, thinking that they'll be better off...........

[tangocashdrink]

I am in favor of getting rid of income tax for the entire NY State. However, money will need to be regenerated. So what will end up happening is an increase in property taxes or increase in State service fees.
I would be willing to have those increases as long as the service is the same. For example, NYS DMV is a two year registration. Other states that have no income tax with the exception of Florida require one to renew their car yearly which is pretty dumb. NYS is only two years.

[tangocashdrink]

Originally Posted by mathjak107

i would say not even close …my son pays 33k in rye brook …3875 sq ft home , lot 4818 sq ft

a home 2 to 3x the value of his here in whitestone is a fraction of that.

taxes on my old home in key garden hills which is valued at a million is about 8600 a year in taxes

a two bedroom apartment in a condo in a high rise we were looking at in hartsdale was the same as our old single family home in taxes

NYC property taxes are lower than Westchester, Nassau, or Suffolk is because many areas of the city are zoned as mixed use, while those areas are purely residential and heavily restrict mixed use.

[mathjak107]

they are also lower because we do have a city income tax

[Cida]

Originally Posted by Dave 92 LSC

Curious how great would the state be without income tax.
Working folk would be able to save money and have more purchasing power.

You do realize that then property tax would sky-rocket, and that would probably be reflected in the high cost of everything else - not just rentals, but supermarket prices, etc.?

[BBMW]

We got close at one point and the city never ran better.

Originally Posted by Thundarr457

Imagine NY with a Republican mayor of NYC, governor, assembly and senate.