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FranM
And so it goes....
Member since 9/05 2217 total posts
Name:
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Re: This is the problem with NY...
Posted by Magooo221
This house is in Little Neck and that is Queens - i live around the corner. This is pretty much what the entire neighborhood is turning into - i have no idea how we will ever be able to afford a house!!! It is insane...
and that is why we moved from Little Neck
Im sure that Massapequa house will get a very big hit with a reassessment. The owner took a 50's house and is trying to flip it.
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Posted 3/24/06 2:48 PM  |
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Re: This is the problem with NY...
Posted by Bebalina
Posted by andri
That house was built in 2004. Most likely it was an old crappy house bought & then rebuilt by a builder. The taxes of @3+ grand is pretty accurate for the property size. Surely when the new owner comes in, it'll be reassesed and raised.
I grew up & live in Queens,it is no secret that you get all house,no property for your buck.
So many times you guys have posted pics of your homes or homes you're looking at..they seem to be smaller houses with enormous property..I'm always thinking in my head.."OMG how I would build-up & out in a heartbeat!"
I think it all comes down to the same thing moneywise in the end.. yes in Queens,the houses have a ridiculous pricetag,but the taxes are not much. In LI, the prices are much-much cheaper but the taxes rape you yearly! Its just a matter of pay now or pay later.
totally agree...in the end ur paying about the same... give or take
Yah but when you sell the expensive house with low taxes you get the money back, if the taxes are the higher aspect then you lose that money.
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| Posted 3/24/06 2:56 PM |
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Leeners
:)
Member since 5/05 4898 total posts
Name:
Eileen
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Re: This is the problem with NY...
Posted by MrsS2005
Posted by dpli
Posted by MrsERod
i'm wondering, what if he works outside the city? say in NJ, or PA, or CT? does he still pay NYC income tax? 
Yep, I live in Queens and work on LI and have to pay NYC income tax. I am pretty sure it's based on where you claim residency.
I live in CT and work in NYC. I don't pay NYC income taxes.
She meant residency as in if you live in NYC, regardless of where you work, you pay NYC income taxes. There have been quite a few debates on the merits of non-NYC residents paying a 'commuter' tax, like they did in the 80's but currently there is nothing of the sort as it was declared unconstitutional about 15 years ago.
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| Posted 3/24/06 3:03 PM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: This is the problem with NY...
Posted by Leeners
Posted by MrsS2005
Posted by dpli
Posted by MrsERod
i'm wondering, what if he works outside the city? say in NJ, or PA, or CT? does he still pay NYC income tax?
Yep, I live in Queens and work on LI and have to pay NYC income tax. I am pretty sure it's based on where you claim residency.
I live in CT and work in NYC. I don't pay NYC income taxes.
She meant residency as in if you live in NYC, regardless of where you work, you pay NYC income taxes. There have been quite a few debates on the merits of non-NYC residents paying a 'commuter' tax, like they did in the 80's but currently there is nothing of the sort as it was declared unconstitutional about 15 years ago.
Yep, that's exactly what I meant 
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| Posted 3/24/06 3:21 PM |
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Bebalina
<3
Member since 6/05 2922 total posts
Name:
N
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Re: This is the problem with NY...
Posted by bridget-n-jimmy
Posted by Bebalina
Posted by andri
That house was built in 2004. Most likely it was an old crappy house bought & then rebuilt by a builder. The taxes of @3+ grand is pretty accurate for the property size. Surely when the new owner comes in, it'll be reassesed and raised.
I grew up & live in Queens,it is no secret that you get all house,no property for your buck.
So many times you guys have posted pics of your homes or homes you're looking at..they seem to be smaller houses with enormous property..I'm always thinking in my head.."OMG how I would build-up & out in a heartbeat!"
I think it all comes down to the same thing moneywise in the end.. yes in Queens,the houses have a ridiculous pricetag,but the taxes are not much. In LI, the prices are much-much cheaper but the taxes rape you yearly! Its just a matter of pay now or pay later.
totally agree...in the end ur paying about the same... give or take
Yah but when you sell the expensive house with low taxes you get the money back, if the taxes are the higher aspect then you lose that money.
you're right, thats why i prefer the bigger price tag and lower taxes, i'm a queens girl born and bred
ETS (keep in mind a bigger DP was needed too)
Message edited 3/24/2006 4:02:36 PM.
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| Posted 3/24/06 3:51 PM |
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andri
LIF Infant
Member since 11/05 241 total posts
Name:
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Re: This is the problem with NY...
Posted by Bebalina
Posted by bridget-n-jimmy
Posted by Bebalina
Posted by andri
That house was built in 2004. Most likely it was an old crappy house bought & then rebuilt by a builder. The taxes of @3+ grand is pretty accurate for the property size. Surely when the new owner comes in, it'll be reassesed and raised.
I grew up & live in Queens,it is no secret that you get all house,no property for your buck.
So many times you guys have posted pics of your homes or homes you're looking at..they seem to be smaller houses with enormous property..I'm always thinking in my head.."OMG how I would build-up & out in a heartbeat!"
I think it all comes down to the same thing moneywise in the end.. yes in Queens,the houses have a ridiculous pricetag,but the taxes are not much. In LI, the prices are much-much cheaper but the taxes rape you yearly! Its just a matter of pay now or pay later.
totally agree...in the end ur paying about the same... give or take
Yah but when you sell the expensive house with low taxes you get the money back, if the taxes are the higher aspect then you lose that money.
you're right, thats why i prefer the bigger price tag and lower taxes, i'm a queens girl born and bred
ETS (keep in mind a bigger DP was needed too)
I totally agree with Bebalina,prob explains why we're neighbors.
You know,some things are personal preference..I also choose to send my son to private school,pay tuition & school tax & have no write off on that..but thats my choice. I also choose to have a shorter commute to the city everyday. As Bebalina said..not only are the homes outrageously priced ( BTW, I didn't even flinch at that $1.7 pricetag,its become normal) we have to come up with a bigger chunk to put down as a deposit,or carry a huuuuge mortgage.
I def feel that Queens ppl that bought in the past,lets say 30-15-even 5 yrs ago are making a killing in profits but.... you also have to pay capital gains...awwwwww $$$$$$.
Bridget..you're welcome to be our neighbor too 
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| Posted 3/24/06 4:32 PM |
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Buttafli1277
LIF Adult
Member since 8/05 2638 total posts
Name:
Jennifer
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Re: This is the problem with NY...
WOW nice house! I grew up in Little Neck, but my house didn't look anything like that! They are knocking down all the houses over there and building hugh mansions.
The taxes are ideal, the location is great, and the schools are the best in Queens. It's technically the last town before LI that's why some of you might be thinking it's LI. I moved out on LI, I do miss my old stompin grounds a bit!
I find that the homes in Queens are really expensive, but the taxes are really reasonable. The home on LI are still expensive, but not as bad as Queens, but the taxes are Crazy!
Message edited 3/25/2006 12:05:20 AM.
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| Posted 3/25/06 12:04 AM |
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LAMGAJ28
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Member since 10/05 6039 total posts
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Re: This is the problem with NY...
I think the taxes are so low because of the year that the house was built. Any recent constructions (I can't recall from what year to what year) will pay lower taxes than someone's whose house was built in 1950's for example. They have a 10 year break from the state/city hence the low taxes on this one.
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| Posted 3/25/06 11:08 PM |
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Corinne
My munchkins
Member since 5/05 5010 total posts
Name:
corinne
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Re: This is the problem with NY...
maybe its a typo since 3k sounds low for a 1.7 mill house maybe its supposeto say 13k that sounds more realistic. you know that listings arent always accurate ours said the house was built in the 60s and it was the 50s
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| Posted 3/25/06 11:15 PM |
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andri
LIF Infant
Member since 11/05 241 total posts
Name:
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Re: This is the problem with NY...
Posted by MrsFresca
I think the taxes are so low because of the year that the house was built. Any recent constructions (I can't recall from what year to what year) will pay lower taxes than someone's whose house was built in 1950's for example. They have a 10 year break from the state/city hence the low taxes on this one.
No more,that law allowing no taxes or an abatement,for 10 yrs was thrown out last year.
We have a new construction home & have an 8 year gradual abatement. 2 years were deducted because thats how long it took to construct it. Every year it @ doubles til it reaches the set amount. Lets say 1st yr $300, than $600, than $1200 & so forth.
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| Posted 3/26/06 7:39 AM |
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Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
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Re: This is the problem with NY...
that is half of what I pay
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| Posted 3/26/06 5:25 PM |
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MsG
Should be working
Member since 5/05 2824 total posts
Name:
G
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Re: This is the problem with NY...
Posted by Corinne
maybe its a typo since 3k sounds low for a 1.7 mill house maybe its supposeto say 13k that sounds more realistic. you know that listings arent always accurate ours said the house was built in the 60s and it was the 50s
I'm 99% sure it's not a typo - city taxes are just a lot lower.
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| Posted 3/26/06 6:42 PM |
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pharmcat2000
Mom of 2 + 1
Member since 10/05 7395 total posts
Name:
Catherine
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Re: This is the problem with NY...
Posted by andri
In LI, the prices are much-much cheaper but the taxes rape you yearly! Its just a matter of pay now or pay later.
Yea, but the difference is that in LI the extra money you pay for taxes doesn't increase your personal wealth. In Queens, you pay more for your house but the extra money you pay every month increases your own net worth.
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| Posted 3/28/06 10:24 AM |
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