Comments for New York Property Tax

Comment on Fragmented Among the Fragmented by Texas Tax Loans

Texas Tax Loans — Wed, 04 May 2011 03:55:30 +0000

Yes, the Texas law covering tax lending has put over $100 million a year back into local taxing jurisdictions. Other large states are looking at Texas style property tax lending with great interest. Property tax loans can be of benefit to all parties.

Comment on Cuomo’s Tax Cap: Big Show, No Substance by Richard

Richard — Thu, 28 Apr 2011 15:41:06 +0000

Here is a fine example of the corruption in the local counties. Following the Governors announcement to cap propertie taxes, the local counties quickly rushed to get properties reassesed. The Town of Corning is a prime example. They decided to re-assess residential property following a busuness reassessment using a firm outside the district [wonder why?]. They followed by issuing increases on nearly all properties that were between 60% and 134% with the bulk actually at 100% or more. Not only are these values very unlikely especially in the present economy but they are just plan unreasonable. There are several couples who will be taxed out of their homes. Attempts to address this by the community fell on deaf ears as it relates to any action. Our action now following any other legal action we can take — MOVE OUT OF THE STATE!

Comment on Cuomo’s Tax Cap: Big Show, No Substance by Maria

Maria — Sun, 30 Jan 2011 23:31:38 +0000

The 2% cap is a good sound bite, but it is a disaster in the making. While we need to lower the cost of education and government, this is not the way. It is simple math to see that you can’t cap taxes without FIRST addressing bureaucracy, contracts and mandates. Even if the only concern is lowering taxes and addressing the state budget, and not educating a generation, the proposal is very bad arithmetic.

What does the cap save?

* In Suffolk County the cap would keep save the average property owner $210 in property taxes (Average is $7,000, the cap is 2% and most districts need 5%).

But wait!

* Mandates have not changed. The shortage between the 2% and the 5% will come from programs, not pension or salary cuts.
* Our school district in South Huntington, which runs a tight ship and made cuts last year,, will be forced to cut $10 million.
* Silly things like jobs, varsity sports, busing and honors classes will be cut. We will have no programs – no theatre, no art, no extra help, no kindergarten… and NO TALENT.
* The migration has already begun. Anyone with means and aspirations for their children to get into a good college are doing whatever it takes to move their children to private schools at a cost of $8,000 per child!
* NYS public schools are one vote away from becoming pathetic institutions emptied of their best and brightest.

So what does the cap REALLY cost? Tens of thousands of dollars – perhaps hundreds – per property owner.

* Those with children and means will foot the bill of private school (8,000 per child x 2 kids x 4+ years = $64,000 +++)
* Those with children but without means will lose chances at college and college scholarships (thousands per child) as good colleges require more than A in math.
* All of us will lose thousands in property values. Homes once worth $500,000 will plummet to $400,000 and life savings and home equity will disappear.
* NYS will incur the cost of more teenagers with nothing to do between 2-6pm – higher teen pregnancy rates, higher drop out rates and more crime.
* NYS will not be looked at as a place business should invest as our population is not well educated.
* We will all look back and realize that we have been duped by the 2% cap sound bite.

Surely someone in Albany passed High School Math!

* Lowering costs requires people who can add and subtract.
* If you folks can’t do it, we need to find someone who can.

Comment on Fragmented Among the Fragmented by keithtax

keithtax — Sat, 07 Aug 2010 23:18:21 +0000

With a consistent system nationwide on property taxes and collections, costs could be reduced and tax payers could see lower tax bills.

Comment on Fragmented Among the Fragmented by Patrian

Patrian — Mon, 12 Jul 2010 18:04:59 +0000

This is correct. Counties are being devastated as they try to find new ways to collect on unpaid property taxes. One state, Texas in particular passed legislation last year to allow Property Tax Loans have been a help to many Texans. This has helped many homeowners who are unable to refi, pay their property taxes quickly without the high fees and interest most counties charge.I expect to see property taxes remain the issue of several pieces of legislation as lawmaker try to find ways to ease taxpayer burden.