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sarah17
LIF Zygote
Member since 2/15 21 total posts
Name:
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Levittown home owners
We are looking to buy house in levittown but I am unsure about the taxes. Can someone please tell me has your taxes gone up like $1000 or more ? The house I'm considering to put an offer on has taxes around $12,000 but with exemption it's comes around $10,800. What worries me is that will the taxes go up more than $1000 in next year. I have been checking zillow tax history and shows taxes go up from $500 to more than $1000 each year. Can someone please help me.
Thanks a bunch.
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Posted 3/20/15 7:41 PM  |
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Jacksmommy
My love muffin!
Member since 1/07 5819 total posts
Name:
Liz
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Re: Levittown home owners
Mine has not, but I grieve every year.
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| Posted 3/20/15 8:50 PM |
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nraboni
Uggh...
Member since 10/09 6905 total posts
Name:
Nicole
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Levittown home owners
Look up the address on mynassauproperty.gov
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| Posted 3/21/15 9:52 PM |
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queensgal
Smile
Member since 4/09 3287 total posts
Name:
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Re: Levittown home owners
Taxes will always go up. Only sure thing in life, other than death as my dad once said.
There is a max percent they can go up each year.
How does this compare to other homes in the area - similar, low, high?
You can grieve in the future.
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| Posted 3/22/15 6:40 AM |
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ohbaby08
Winter is Coming
Member since 10/07 1718 total posts
Name:
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Levittown home owners
We bought in 2007 and yes, our taxes have gone up most years. It's kind of inevitable.
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| Posted 3/23/15 9:28 AM |
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BabyHopes2
LIF Adult
Member since 4/13 1058 total posts
Name:
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Re: Levittown home owners
Our taxes went up significantly this year, our mortgage went up $400 a month. Its ridiculous its the school taxes. We want to grieve but still have PMI on our mortgage which should be coming off soon. Was told to wait until PMI comes off.
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| Posted 3/23/15 11:07 AM |
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DWKS810
LIF Adolescent
Member since 3/09 554 total posts
Name:
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Re: Levittown home owners
Posted by BabyHopes2
Our taxes went up significantly this year, our mortgage went up $400 a month. Its ridiculous its the school taxes. We want to grieve but still have PMI on our mortgage which should be coming off soon. Was told to wait until PMI comes off.
Why would the PMI matter? I would definitely grieve as soon as possible, I imagine it can only help? I would be skeptical if the mortgage broker or insurance broker told you that. If there's a real reason to hold off then I'm interested to hear it!
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| Posted 3/23/15 11:54 AM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Re: Levittown home owners
Posted by DWKS810
Posted by BabyHopes2
Our taxes went up significantly this year, our mortgage went up $400 a month. Its ridiculous its the school taxes. We want to grieve but still have PMI on our mortgage which should be coming off soon. Was told to wait until PMI comes off.
Why would the PMI matter? I would definitely grieve as soon as possible, I imagine it can only help? I would be skeptical if the mortgage broker or insurance broker told you that. If there's a real reason to hold off then I'm interested to hear it!
We have PMI and grieved with no issue. I'm in Suffolk though. Not sure if that makes a difference.
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| Posted 3/23/15 12:21 PM |
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Re: Levittown home owners
Posted by ElizaRags35
Posted by DWKS810
Posted by BabyHopes2
Our taxes went up significantly this year, our mortgage went up $400 a month. Its ridiculous its the school taxes. We want to grieve but still have PMI on our mortgage which should be coming off soon. Was told to wait until PMI comes off.
Why would the PMI matter? I would definitely grieve as soon as possible, I imagine it can only help? I would be skeptical if the mortgage broker or insurance broker told you that. If there's a real reason to hold off then I'm interested to hear it!
We have PMI and grieved with no issue. I'm in Suffolk though. Not sure if that makes a difference.
I don't see how pmi would affect the grievance process. I mean, grieving your taxes means asking to have the assessed value lowered, and you need to have a certain amount of equity in a home to have pmi removed. However, the assessed value for taxation purposes does not equate to the fair market value, and an appraiser does not look at assessed values when determining the value of a home.
I think it's wise to grieve every year... I didn't do this the first 5 years or so that I was in my home (in N. Bellmore) and the taxes went up significantly. We recently grieved and got a good reduction.
As far as Levittown, taxes in Levittown SD are higher than surrounding towns, but sometimes home prices are lower, which can balance out the affordability of the monthly payment. I agree with the person who said that taxes always go up, but they usually go up by a few hundred a year, not thousands (unless of course you make a major change to the house, by dormering, adding an extension, etc.).
I don't think taxes increase at a greater rate in Levittown than in surrounding areas. The taxes are higher, but if you buy a house in Levittown with $12K taxes and a house in Hicksville with $9K taxes, I think they will both increase a similar amount each year. You are just starting at a higher point with the Levittown home.
I agree with the suggestion to check out www.mynassauproperty.com to find the address, verify the taxes, and look back over the last few years to see how much the taxes have gone up year to year. If you don't have a particular home in mind, just look up some random addresses and see how much taxes generally increase in that area year-over-year.
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| Posted 3/23/15 1:00 PM |
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BabyHopes2
LIF Adult
Member since 4/13 1058 total posts
Name:
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Re: Levittown home owners
We are trying to get rid of the PMI very soon since we are about to reach the 80% value, wouldn't it be a little messy with the reassessment? I'm not sure where my husband got that information from! Can someone clarify that if they can?
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| Posted 3/23/15 3:05 PM |
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Re: Levittown home owners
Posted by BabyHopes2
We are trying to get rid of the PMI very soon since we are about to reach the 80% value, wouldn't it be a little messy with the reassessment? I'm not sure where my husband got that information from! Can someone clarify that if they can?
I may be misunderstanding your question, but I see it as a non-issue. In what way do you think it is sticky? Are you worried that if you successfully grieve your taxes and get your assessed value lowered, that the bank will the. Say you dint have enough equity in the house to remove the pmi?
If you apply to have your pmi removed, I believe you will have to get an appraisal (bank will probably order one) to show you have enough equity. The appraiser will come look at your house, measure, take photos, etc, and then come up with a value by pulling sales of comparable homes in the area and making adjustments for square footage, upgrades, property size, etc.
The appraiser is NOT going to look at the Nassau County Assessor's office "assessed value" if your home. That is for tax purposes and doesn't equate to market value.
I've sold homes for $100K more than the assessed value and have had no problem with bank appraisals coming in at or above the full purchase price. It's really separate issues.
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| Posted 3/23/15 8:10 PM |
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BabyHopes2
LIF Adult
Member since 4/13 1058 total posts
Name:
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Re: Levittown home owners
Posted by Century 21 Dallow - Christine Braun
Posted by BabyHopes2
We are trying to get rid of the PMI very soon since we are about to reach the 80% value, wouldn't it be a little messy with the reassessment? I'm not sure where my husband got that information from! Can someone clarify that if they can?
I may be misunderstanding your question, but I see it as a non-issue. In what way do you think it is sticky? Are you worried that if you successfully grieve your taxes and get your assessed value lowered, that the bank will the. Say you dint have enough equity in the house to remove the pmi?
If you apply to have your pmi removed, I believe you will have to get an appraisal (bank will probably order one) to show you have enough equity. The appraiser will come look at your house, measure, take photos, etc, and then come up with a value by pulling sales of comparable homes in the area and making adjustments for square footage, upgrades, property size, etc.
The appraiser is NOT going to look at the Nassau County Assessor's office "assessed value" if your home. That is for tax purposes and doesn't equate to market value.
I've sold homes for $100K more than the assessed value and have had no problem with bank appraisals coming in at or above the full purchase price. It's really separate issues.
Thank you so much!!
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| Posted 3/24/15 12:47 PM |
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