Taxes

[B7500]

..just venting here....

I understand the need for taxes but 27 % in one shot (and that's not even the school taxes) is a bit hard to swallow.

http://www.pressrepublican.com/Archive/2006/01_2006/011320062.htm

 

[MossRoad]

Depends on what the original tax rate was...

27% of 1.00 is only 27 cents.
27% of a thousand dollars is $270.00.

The example given was a $116,000 house would pay an additional $300 per year. Sounds like the tax rate was around 1% and is going to 1.27%. Someone else can do the exact math...

 

[scott_vt]

Taxes are going up all over, obviously steeper increases in some locals than others. Upstate Ny seems to pay more than their share unfortunately, NYC builds something and upstate Ny pays for it. that is not fair IMHO /forums/images/graemlins/confused.gif

Also as the article states, the taxpayers are bailing out the state on lucrative retirement plans. I feel the state needs to reavaluate there retirement benefits to shift some of the taxpayers burden. I also realize that part of being a state employee is accepting wages that may not be what they would be in private industry, and the state employees accept this fact with enhanced benefits being the drawing card to their particular job. It will be a difficult job for your state legistators to correct.

scotty

 

[Dk45_Jeff]

NY state property and school tax rates are getting ridiculous. Taxes on my property in Hamilton county have gone up between 10 and 15 percent each of the last five years. Plattsburgh’s new 1.21% tax rate is only the city property tax and would not include the school tax. My NY school taxes are the same as the property taxes and I suspect Plattsburgh would have a similar situation. Think of it this way, between school and property taxes the median household is paying about $3000 a year in taxes in an area where the median household income is less then $60,000. In my Virginia county a home costing six times the Plattsburgh average has a smaller tax bill. Keep in mind NY also has high income and sales taxes (7.385 to 9.5% depending on county). No wonder the state is experiencing a population decrease.

Another thing to note is the median age in many upstate communities is near or above the retirement age and NY provides retirees great tax breaks. These rate hikes are going to keep coming. I would love to move back home, but there is no way I would subject my family to the drastic standard of living reduction NY’s economic situation would require.

 

[Harleymsn]

Actually the New York State legislature is responsible for this mess. For the past 25 years, state lawmakers have attempted to 'steal' money from the pension fund for pet projects. The state Comptrollers had consistenly fought these efforts and were sucessful. That pension system was the most stable sysytem in the country and the reserves were staggering. Since they could not steal that money, several years ago the lawmakers devised a plan where they stopped sending local communities their share of the state taxes. To make this fly with the communities, they changed the pension formula and for several years, the communities paid NOTHING into the pension system. When the courts ruled that it was illegal, the communities were ordered to make up the missed payments.
Now this, along with 9/11 and pension money siphoned off for NYC has finally caught up and of course the politicians love to blame the state and local employees rather than themselves. Oh, also those same state lawmakers and politicians collect huge pensions from the fund while no one pays in for them.
Is there any wonder that after being an upstate NY police officer for 25 years, I took my NYS pension and moved to Tennessee...... and NO I feel no guilt at all.

 

[dsutt]

I hear you. We are in process of buying a farm in Tioga county, and found that the agent outright lied to us about the taxes. They are DOUBLE what he told us - had to go the the assessor to find out the ~$7k tax load. STAR and Ag assessment will get it down some, but if I did not have a very good job here and some family, I'd be outta here.
Periodically, I think that the only way the NY politics will get fixed is with some kind of disaster that wipes Albany (and maybe parts of NYC) out. Sure would be helpful if they split NYC off as a separate state.

 

[jpm]

i better not respond about ny taxes because of forum rule #4

 

[Alan L.]

The property tax on my rent house, which is valued at about $117,000 is over $3000, which is about 2.9%.

 

[B7500]

Hey, I know I’m blessed and I also have the option of selling out but I worked hard for what I have. I’ve never asked anyone for a penny since I was 14 years old. I served my country, put myself through College and just retired after working for 35 years. These homes are my nest eggs. Why, because of incompetent politicians should I?
I just think that's unfair.

 

[meledward23]

You think that's unfair, wait till you property is worth more as a shopping center.

Besides, your not so wet behind the ears to think everything is fair (lighthearted, not an insult).

I was looking at homes. I had two options, each house was about the same price. One the Taxes were around $ 4,000.00 annually the other only $ 853.00 annually. Well obviously one is more "in town" than the second. Unfortunately the building boom in the second country is going to sky rocket the taxes over the next few years. But that is a huge wow.

As I always say, you own just about nothing. If you think you own it, just dont correspond with the government for a while and see what happens. You lease the land/house. You may own a car so long as you keep it on your property.

I guess you only have a lease on life (in more ways than one) especially as your family lowers the coffin the Gov comes and asks for their payment for your right to death.

 

[YanmarFever]

<font color="blue"> As I always say, you own just about nothing. If you think you own it, just dont correspond with the government for a while and see what happens. You lease the land/house. You may own a car so long as you keep it on your property.

I guess you only have a lease on life (in more ways than one) especially as your family lowers the coffin the Gov comes and asks for their payment for your right to death. </font>

No truer words have been spoken all day !!!

Im for abolishing all property taxes, because like you said dont pay them once and you loose the land , so you really dont own it at all, just a piece of paper.
Step out of line & they come and take it away.

A flat tax or a user tax on all goods would be a lot better
dont use = dont pay /forums/images/graemlins/grin.gif

Im tired of carrying the burden for all the loosers and politricsters.

OK. all you on the govt. dole start flaming

 

[slowrev]

This thread is too political for me. I do not dare post...Oh I just did ?? oh well.

Ben

 

[jim_wilson]

<font color="blue"> As I always say, you own just about nothing. If you think you own it, just dont correspond with the government for a while and see what happens. You lease the land/house. You may own a car so long as you keep it on your property. </font>

I have never heard it expressed like this before but it is sort of true. There are a lot of incongruities in the way the law treats your so called personal property. In the area of property crime it has always upset me that a crime can be commited that takes your property and it many cases it gets treated by the law as no big deal. But if you were to get say kidnapped that would be a big deal. I can't really see the difference between the part of my life that is lost to working for a piece of material goods that somebody takes from me and kidnapping me for a comparable amount of time. If I go to work every day and spend the money I earned on say a DVD player, and then it is stolen, in essence that person has stolen a piece of my life - not a piece of property. Property is not free - you pay for it with pieces of your life that you exchange for money. Here in MA we constantly have issues like this - referendums for tax reduction that the legislature ignores, ballot questions for spending that mean nothing because they get ignored, etc. One of the best things to happen here was Proposition 2 1/2 which limits property tax increases to 2 1/2 % on any given year. And there are groups that are trying to overturn that. I seem to remember quite a while back there was a group of people who had this same problem - they kept talking about taxation without representation or something like that...............

 

[Jagmandave]

Yeah, California wasn't it?


/forums/images/graemlins/grin.gif

 

[scott_vt]

Hi Harley,
Thanks for putting some helpful insight under my nose. Obviously as an employee in upstate Ny you know a great deal more about the situation than myself.

I dont blame you one bit for bailing out while the gettin is good /forums/images/graemlins/grin.gif

scotty

 

[jim_wilson]

Actually I think California was the state where the property tax cap initiatives started... /forums/images/graemlins/laugh.gif

 

[Harleymsn]

</font><font color="blue" class="small">( The property tax on my rent house, which is valued at about $117,000 is over $3000, which is about 2.9%. )</font>

Alan, those are rates that New Yorkers would love. I had 2 homes in Niagara Falls, NY
#1 was a nice little 2 bedroom, small lot 2 car garage. The city assessed it at $30K..taxes $1300 per year. Finally sold after 3 years for $14K
#2 a nice older 3 bedroom, larger lot 2 car garage. The city assessed for $59K, taxes $2500. I was really lucky to sell it for $50K (Just learned that this years taxes on this one is $2700)
I have family still there, one of my brothers is just south of Buffalo. His homes is valued at about $350K and his taxes are over $20K per year.....yes $20K

I have 11 acres here in Tennessee on which I have just built a new 1500 sq ft Barn/home. They probably won't get the assesment up to true value for about 5 years (that's what the assessor told me) I just received my tax bill last month $41.00, I expect next years to be about $125.00 and finally when they get me to full assessment at the present rate it will be $415.00 (Total taxes)

 

[scott_vt]

Hi Joe,
Boy with those kind of rates you better be careful or your gonna have a lot of neighbors /forums/images/graemlins/grin.gif

scotty

 

[ultrarunner]

I am not very political, but I don't see anything wrong with buying a home and being able to project the future property tax burden.

In California, the basic tax is 1% of the purchase price, with the tax amount limited to a 2% annual increase. In reality, the actual tax rate is more like 1.5% because of all of the "Special" assesments for street lights, police, fire, library, etc.

I pay 5x the property tax of my retired neighbors with the same tract home as mine because their tax base is from the 1970's. I Don't have a problem with that because I knew going in what my taxes would be and I know my retired elderly neighbors would be forced to sell if they had to pay taxes based on my home's assesment.