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nicopico13
that year flew!
Member since 11/09 3008 total posts
Name:
Nicole
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Roughly how much does adding a dormer affect your taxes?
I'm sure this is a broad question, but say you purchase a home with 2 bedrooms 1 bath and built up or out to add 2 more rooms and possibly another bathroom.
We are just starting to look and I'm seeing some great priced two bedrooms on descent plots of land that would enable us to use the "extra" money to renovate. Ideally it would be all one level or the upstairs would have 3 bedrooms and 1 bath and the downstairs would have 1 room, 1 bath.
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Posted 10/24/14 11:15 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
L
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Roughly how much does adding a dormer affect your taxes?
my mom's doubled in ENPT but that may have also been due to LIPA discount fading away.
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| Posted 10/24/14 12:28 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Roughly how much does adding a dormer affect your taxes?
I more than doubled the size of my house and my taxes went up about 40%.
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| Posted 10/24/14 1:20 PM |
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nicopico13
that year flew!
Member since 11/09 3008 total posts
Name:
Nicole
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Re: Roughly how much does adding a dormer affect your taxes?
This might be a dumb question, but does it matter if you build up as opposed to building out?
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| Posted 10/24/14 1:39 PM |
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summerBaby10
let's be nice
Member since 9/07 10208 total posts
Name:
Wifey
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Re: Roughly how much does adding a dormer affect your taxes?
Posted by nicopico13
This might be a dumb question, but does it matter if you build up as opposed to building out?
I was told by a few different realtors that if you build up, your taxes go up less than if you were to change the footprint of the house & add an extension.
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| Posted 10/24/14 5:05 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Roughly how much does adding a dormer affect your taxes?
Posted by summerBaby10
Posted by nicopico13
This might be a dumb question, but does it matter if you build up as opposed to building out?
I was told by a few different realtors that if you build up, your taxes go up less than if you were to change the footprint of the house & add an extension.
I personally think it doesn't matter much. From my experience it really depends on square footage and things like if you have a front porch and such. I've seen houses similar in square footage some went full up others went partial up and extension and the difference was negligible.
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| Posted 10/24/14 5:20 PM |
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lakadema
LIF Adult
Member since 5/08 1180 total posts
Name:
Danielle
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Re: Roughly how much does adding a dormer affect your taxes?
I was told by town of huntington that square footage is square footage. It doesn't matter if you go up or out. That's what the tax assessor said when I called.
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| Posted 10/24/14 6:31 PM |
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Re: Roughly how much does adding a dormer affect your taxes?
Posted by ave1024
I more than doubled the size of my house and my taxes went up about 40%.
I know a few people and this is what they have told me.
Especially along SS Nassau.
We know someone in Seaford who added a second floor to a ranch style home and they are paying like $14k a year.
Similar with a couple we know in Merrick.
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| Posted 10/25/14 6:51 AM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: Roughly how much does adding a dormer affect your taxes?
Posted by nicopico13
This might be a dumb question, but does it matter if you build up as opposed to building out?
It makes no difference. Adding livable square footage is adding livable square footage.
The best thing to do is call the assessor's office and give them a rough idea of what you want to do. They'll be able to give you a ballpark estimate of the increase. Also, be aware that depending on the size of your additition, you may be eligible for a tax exemption on the new construction.
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| Posted 10/25/14 5:54 PM |
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nicopico13
that year flew!
Member since 11/09 3008 total posts
Name:
Nicole
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Re: Roughly how much does adding a dormer affect your taxes?
Errr ok, thanks for the info. I'm guessing that idea probably isn't going to work out! Damn taxes!
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| Posted 10/26/14 8:53 AM |
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