I was job surfing the other day and found a job I liked in upstate New York. Was all set to apply, and even found a nice, cheap house I was interested in ($140,000), but then asked the realtor what the annual property and school taxes were.
I was STUNNED when he wrote back that the yearly taxes were $32,000!!!
So, I would have a monthly mortgage payment of about $800, but a tax bill of about $2,666 a month on top of that!
Am I the only one that sees the absolute INSANITY of this situation? Jeebus! How do you New Yorkers NOT rise up and burn down all your local government offices and kill the Vampires that work in them?
My annual tax bill where I live now is about $1000 a year for a $250,000 house!
2007-10-23 01:17:18 · 9 answers · asked by Slappy McStretchNuts 5 in Business & Finance ➔ Renting & Real Estate
BJ. Quite the contrary. The place I live in is being overrun with New Yorkers coming down here to escape the weather, and the Vampires... Can you seriously say, with a straight face, that it makes ANY kind of sense that your monthly property tax bill would be 3 TIMES your mortgage? Are you on crack?
2007-10-23 01:27:29 · update #1
Bostonian: Yeah, I wondered about that myself. I wrote back to the realtor asking if he misplaced a comma or a decimel or something. That just CAN'T be right! The figure he quoted was a combination of property and school taxes, if that makes a difference.
2007-10-23 01:35:18 · update #2
The house is in zip code 13118. Will check into it and report back.
2007-10-23 01:41:17 · update #3
Chad... THANK YOU. That sounds SO much better! Woo hoo! I'll take the job if offered.
2007-10-23 02:29:29 · update #4
I wouldn't mind paying $3200. It's a small price for a school system with teachers that are paid what they're worth!
2007-10-23 02:39:38 · update #5
The taxes were $3200 per year, not $32000. Upstate New York has very high property taxes, between 3-4% a year. Your mortgage would be $800 and your taxes $250 a month or so...
It's still insane!! My $250,000 house had $8600 per year in annual real estate taxes!!
To bostonianinmo, yes, NY has an income tax, a sales tax and rediculous real estate taxes!!
Good luck!
2007-10-23 02:34:50 · answer #1 · answered by Rush is a band 7 · 0⤊ 0⤋
Someone is either pulling your chain or this is a typo. There's no way that taxes on a $140,000 home would be that high. $3,200 would be a stretch to be honest.
Go to the county website and look up the millage rate where you are looking to buy. Or better yet, call the county tax department and verify the taxes; it's public information.
Addendum: It's got to be a mistake. States with an income tax -- and NY has one -- generally have much lower property taxes than states without one. NH, FL, and TX all have very high property taxes, though nowhere near THAT high! In most major cities in TX, a $140,000 house would pull about $4,500 in property taxes. In MO (with an income tax) where I currently live, it would be a bit over $1,100. Wouldn't be the first time an absent-minded realtor passed on bad information without verifying it.
2007-10-23 01:29:58 · answer #2 · answered by Bostonian In MO 7 · 3⤊ 0⤋
Maybe that's why I see more people moving from the northeast over the past year than the previous 10 years.
Property taxes in Arizona on a 140,000 home would be about 1000.
Terry S.
http://www.Welcome2Arizona.com
2007-10-23 09:08:57 · answer #3 · answered by Terry S 5 · 0⤊ 0⤋
Just did some research for you the median property taxes for this zip code that you listed are $1,478. That comes from city-data.com I'm sure that school taxes aren't 30,000 a year. I think the reply email had 1 too many zeros.
2007-10-23 02:22:17 · answer #4 · answered by chad f 3 · 0⤊ 0⤋
I live in Upstate NY and that sounds ridiculous. In the towns around me, property taxes are around 3k, which varies by town. I'm not sure about school taxes, but I seriously doubt they're that much. Check again.
2007-10-23 01:57:34 · answer #5 · answered by oj 5 · 0⤊ 0⤋
The same way Floridians haven't revolted over the ridiculous homeowners insurance!!!
2007-10-23 01:22:38 · answer #6 · answered by redslippers 4 · 0⤊ 0⤋
That is why people are leaving NY in droves.
As soon as I sell my house I am gone, never to return.
This state is being screwed by the libs.
2007-10-23 01:21:08 · answer #7 · answered by Anonymous · 1⤊ 2⤋
im not in new york but WOW, $32.000 a year? i think i'd pass on that,
2007-10-23 01:26:22 · answer #8 · answered by akadave 3 · 1⤊ 0⤋
So I guess you live in a hellhole that no one desires to live in, that's why your taxes are so low.
2007-10-23 01:20:57 · answer #9 · answered by Anonymous · 0⤊ 4⤋