Long Island Mike
Senior Member
Interesting idea concerning property taxes...
Admiral Beez: Interesting article and idea concerning high property taxes-I felt that I was reading a typical Long Island rant concerning property taxes-Nassau and Suffolk Counties,NY have some of the USA's highest property taxes and I agree about use of services-70 plus percent of LI property taxes are used to fund schools-I feel that there should be some discerning of usage concerning the school tax funding percentage-in that a household with three school-age children should contribute more then a retiree with no children on a fixed income should as a good example.
I agree that a gains tax is a good idea-especially if that long time property owner sells out. But I feel if the house is passed down to a family member a regressive inheritance tax can complicate matters.
I have relatives here on LI who are seniors that to make enough money to pay their tax bill and supplement their income have converted part of their house to an illegal apartment-they rent to a thirtysomething couple who would not be able to afford to stay on LI even though they have decent white-collar jobs.
Due to a housing shortage illegal apartments have become a mainstay in some communities-in more wealthy as well as lesser wealth communities.
Because of the expense of LI real estate and rentals many younger people-namely 20 and thirtysomethings-are being priced out and the term used is "Brain Drain" because these people are basically the backbone of today's emerging Middle Class.
Property taxes are a tremendous burden on everyone who owns property here on LI-the NYS Senate has approved a tax cap recently. With school tax increases that are sometimes double digits yearly-far above the rate of inflation-something needed to be done. You can vote on school taxes here on LI-but the problem is low voter turnout and the idea that by voting down the school budget in your district you are only hurting school-age children-that is how some budgets get approved-even with large tax increases.
There is a program in NYS for those who are seniors and property owners of lower income called the STAR program-but it only does so much.
It seems that I remember that Toronto was a City with a high property tax burden and that homeowners there are suffering just like Long Islanders.
I hope to see a system that is fair and funds necessary services-a local income tax to replace the property tax has been proposed here on LI. I feel that it can work-property taxes in NYC's 5 boroughs are much lower then other NYC area counties-Westchester County(Just N of The Bronx)actually has the USA's highest per capita local tax burden.
Insight and information from Long Island Mike
Admiral Beez: Interesting article and idea concerning high property taxes-I felt that I was reading a typical Long Island rant concerning property taxes-Nassau and Suffolk Counties,NY have some of the USA's highest property taxes and I agree about use of services-70 plus percent of LI property taxes are used to fund schools-I feel that there should be some discerning of usage concerning the school tax funding percentage-in that a household with three school-age children should contribute more then a retiree with no children on a fixed income should as a good example.
I agree that a gains tax is a good idea-especially if that long time property owner sells out. But I feel if the house is passed down to a family member a regressive inheritance tax can complicate matters.
I have relatives here on LI who are seniors that to make enough money to pay their tax bill and supplement their income have converted part of their house to an illegal apartment-they rent to a thirtysomething couple who would not be able to afford to stay on LI even though they have decent white-collar jobs.
Due to a housing shortage illegal apartments have become a mainstay in some communities-in more wealthy as well as lesser wealth communities.
Because of the expense of LI real estate and rentals many younger people-namely 20 and thirtysomethings-are being priced out and the term used is "Brain Drain" because these people are basically the backbone of today's emerging Middle Class.
Property taxes are a tremendous burden on everyone who owns property here on LI-the NYS Senate has approved a tax cap recently. With school tax increases that are sometimes double digits yearly-far above the rate of inflation-something needed to be done. You can vote on school taxes here on LI-but the problem is low voter turnout and the idea that by voting down the school budget in your district you are only hurting school-age children-that is how some budgets get approved-even with large tax increases.
There is a program in NYS for those who are seniors and property owners of lower income called the STAR program-but it only does so much.
It seems that I remember that Toronto was a City with a high property tax burden and that homeowners there are suffering just like Long Islanders.
I hope to see a system that is fair and funds necessary services-a local income tax to replace the property tax has been proposed here on LI. I feel that it can work-property taxes in NYC's 5 boroughs are much lower then other NYC area counties-Westchester County(Just N of The Bronx)actually has the USA's highest per capita local tax burden.
Insight and information from Long Island Mike