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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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info for Brookhaven residents
you can use the calculator tool to see how much you might be affected.
I'm a huge fan of preserving open spaces, but I think this tax formula is excessive.
Brookhaven transfer tax
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Posted 10/18/07 12:53 PM  |
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Prudential Douglas Elliman Real Estate
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: info for Brookhaven residents
I'm confused by this, isn't there already a transfer tax?
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| Posted 10/18/07 1:03 PM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
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Re: info for Brookhaven residents
The transfer tax is already there, the upcoming elections are an opportunity to vote it down.
Personally, I have no problem with it...It's only applicable on second purchases (first time buyers are exempt) and the first $250,000 are exempt.
Brookhaven has the lowest taxes on Long Island (it's part of the reason I live here), so if this is what they have to do to save open land then I am all for it.
FYI - as of now I pay $4K/year taxes on my house in Medford and my mother pays $9K/year taxes on her home in Levittown - guess who has more woods and trails within walking distance?
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| Posted 10/18/07 1:44 PM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: info for Brookhaven residents
I was paying almost 8,000 in Ridge until I greived them & every year there's an increase. IMO its time to scale back, last time I went to town hall I was HORRIFIED by the number of slow moving, not friendly civil servents I had to deal with just to hand in my STAR application. Foley has done a good job but we are still paying the price of the crooks before him.
here's a link to a more objective website
transfer tax
and from that site
Why is it necessary to vote on it? Why can’t the Town Board just approve it?
The Town can create the Community Preservation Fund by itself. But the Fund is just an account in which to deposit revenue. The New York State law that allows Brookhaven Town to establish the CPF tax and begin to levy the real estate transfer fee requires a public referendum to approve the conservation tax. If voters approve this new law this November, the Town can begin to collect the tax from real estate transactions starting in April, 2008. Funds from this tax will go into the CPF and be used to protect our community character through land purchases.
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| Posted 10/18/07 2:18 PM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: info for Brookhaven residents
There was a mailing in our mailbox yesterday regarding this issue supported by the preservation fund.
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| Posted 10/18/07 2:21 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: info for Brookhaven residents
id have to disagree about the low taxes. My house is being assessed at a value over $100k more than I paid for it (and it appraised for) and my grievance was denied.  crookhaven.
and try to get them to chop down a dead tree of theirs that is on your property.
i'll vote NO on anythign they try to get from me!!
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| Posted 10/18/07 5:10 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: info for Brookhaven residents
Posted by Meaghan729
id have to disagree about the low taxes. My house is being assessed at a value over $100k more than I paid for it (and it appraised for) and my grievance was denied. crookhaven.
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How is that possible? Did you show them the paperwork from your sale? That should have been an easy win for you.
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| Posted 10/18/07 5:18 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: info for Brookhaven residents
Posted by SweetTooth
Posted by Meaghan729
id have to disagree about the low taxes. My house is being assessed at a value over $100k more than I paid for it (and it appraised for) and my grievance was denied. crookhaven.
\
How is that possible? Did you show them the paperwork from your sale? That should have been an easy win for you.
yep and my appraisal - the firm we are using is fighting the decision because they also think its crazy.
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| Posted 10/18/07 6:23 PM |
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Gertyrae
Peace out Homies!
Member since 5/05 20046 total posts
Name:
Gerty ®
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Re: info for Brookhaven residents
Posted by Meaghan729
id have to disagree about the low taxes. My house is being assessed at a value over $100k more than I paid for it (and it appraised for) and my grievance was denied. crookhaven.
Have you compared your taxes to those of other towns?
We researched taxes before we bought and Brookhaven was much lower than any other town on LI.
We were originally looking at Islip or Babylon and the taxes there are ridiculous.
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| Posted 10/18/07 10:23 PM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: info for Brookhaven residents
I believe the tax they are talking about is a one time fee when you purchase the house. There are parts of long island that do this already, Riverhead, and much of the hamptons. A purchaser would have to pay 2% of the purchase price at closing and the money would go into the preservation fund. According to a previous post first time home buyers are expempt but if you bought investment property you would pay 2% of the purchase price minus the exemption which someone said was $250,000.00. If it is the same as the Peconic Bay tax in the towns I mentioned above that is how they do it--it is not a yearly tax on your property once you own it.
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| Posted 10/19/07 12:02 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: info for Brookhaven residents
Posted by csorisi
I believe the tax they are talking about is a one time fee when you purchase the house. There are parts of long island that do this already, Riverhead, and much of the hamptons. A purchaser would have to pay 2% of the purchase price at closing and the money would go into the preservation fund. According to a previous post first time home buyers are expempt but if you bought investment property you would pay 2% of the purchase price minus the exemption which someone said was $250,000.00. If it is the same as the Peconic Bay tax in the towns I mentioned above that is how they do it--it is not a yearly tax on your property once you own it.
this is the way I understood it also, my feeling is that in the short term it could potentialy decrease my home value by 2%. My house is on the big side to be a starter.
My other problem with this tax is that Brookhaven is paying for the ads with our town money. The whole thing seems to me like there is more to it. JMO.
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| Posted 10/19/07 6:05 AM |
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