5 ms·

NY has low property taxes compared to most no-income-tax states

vlan0 4y ago
Where is that? My parents lived in North County and paid 13k+ a year on a $350k house. Their current place in Tampa is about 400k and the taxes are less than half of what they were in NY. Maybe Florida is a special case?
- lotsofpulp 4y ago
  WA is also lower than NY. I have a few properties, and I would say property tax is 0.75% to 1% of market value, max.
- thebean11 4y ago
  I'm basing this off of apartments in NYC. I often see ~$600k co-cops with $800 monthly co op fees (of which half is maintenance half is taxes). That seems low to me compared with similarly priced homes elsewhere.
  - deleted 4y ago
    [deleted]
  - dman 4y ago
    NYC has has a city tax on your income. If you are living in the tristate area youre paying one way or the other :)
  - citiguy 4y ago
    Property tax in New York City tends to be lowered because there is also an income tax. Try comparing homes outside the city.
RHSeeger 4y ago
NY's property taxes are among the highest in the nation (top 10).
- d_burfoot 4y ago
  Spot check, here's a ~1M apartment in NYC, vs a ~1M house in New Hampshire: https://www.zillow.com/homedetails/41-W-72nd-St-APT-8C-New-York-NY-10023/65316578_zpid/ https://www.zillow.com/homedetails/41-W-72nd-St-APT-8C-New-Y... https://www.zillow.com/homedetails/491-Marcy-St-Portsmouth-NH-03801/95352824_zpid/ https://www.zillow.com/homedetails/491-Marcy-St-Portsmouth-N... Property taxes on the NYC place are estimated by Zillow at 715/month, while NH place is 1445/month. NH has no income tax.
  - lotsofpulp 4y ago
    NH is uniquely tilted towards real estate property taxes because it has no income and no broad sales tax.
  - RHSeeger 4y ago
    So, I made a comment that it was in the top 10. Then you listed one that was dramatically higher. While I agree that NY doesn't compete for the top spot; your example in no way invalidates my point.
xtrimsky1234 4y ago
NY has insane property taxes. I pay 11k for a 400k house. I have not seen property taxes so high anywhere else in the country.

Where is that? My parents lived in North County and paid 13k+ a year on a $350k house. Their current place in Tampa is about 400k and the taxes are less than half of what they were in NY. Maybe Florida is a special case?

lotsofpulp 4y ago
WA is also lower than NY. I have a few properties, and I would say property tax is 0.75% to 1% of market value, max.
thebean11 4y ago
I'm basing this off of apartments in NYC. I often see ~$600k co-cops with $800 monthly co op fees (of which half is maintenance half is taxes). That seems low to me compared with similarly priced homes elsewhere.
- deleted 4y ago
  [deleted]
- dman 4y ago
  NYC has has a city tax on your income. If you are living in the tristate area youre paying one way or the other :)
- citiguy 4y ago
  Property tax in New York City tends to be lowered because there is also an income tax. Try comparing homes outside the city.

RHSeeger 4y ago

NY's property taxes are among the highest in the nation (top 10).

d_burfoot 4y ago
Spot check, here's a ~1M apartment in NYC, vs a ~1M house in New Hampshire: https://www.zillow.com/homedetails/41-W-72nd-St-APT-8C-New-York-NY-10023/65316578_zpid/ https://www.zillow.com/homedetails/41-W-72nd-St-APT-8C-New-Y... https://www.zillow.com/homedetails/491-Marcy-St-Portsmouth-NH-03801/95352824_zpid/ https://www.zillow.com/homedetails/491-Marcy-St-Portsmouth-N... Property taxes on the NYC place are estimated by Zillow at 715/month, while NH place is 1445/month. NH has no income tax.
- lotsofpulp 4y ago
  NH is uniquely tilted towards real estate property taxes because it has no income and no broad sales tax.
- RHSeeger 4y ago
  So, I made a comment that it was in the top 10. Then you listed one that was dramatically higher. While I agree that NY doesn't compete for the top spot; your example in no way invalidates my point.

xtrimsky1234 4y ago

NY has insane property taxes. I pay 11k for a 400k house. I have not seen property taxes so high anywhere else in the country.