Hello David,
Thanks for responding to my blog. Yes, if everything remains the same and your assessed value went down (in a perfect world) your tax bill would go down. The county/town would have to collect your share of lost revenue from another source because like you stated the loss must be made up to pay the bills. The current situation across Nassau County is that most of the houses had assessments that were way off base and not a true reflection of their current market value. Many homeowners were grieving their assessments and winning. The grievances were costing Nassau County a lot of money. So the county lowered the assessed value of most homes in the 2010/11 tax year to “fix” this problem. To pay the bills the county increased the tax rate. This combined with greater expenses for the coming years could lead to people paying more than they did before. If you don’t mind I going to post your question on my blog. This whole assessment thing is very confusing and I believe many others would benefit.
Sincerely Yours,
Mark Schreier
Licensed Sales Associate
Certified Buyer Representative
Century 21 Prevete Real Estate
(516)263-9094
Web site: www.TopLiRealtor.com
Friday, January 15, 2010
Question on Nassau County Property Taxes
Hi Mark, I read your article on property taxes.
So here is a question. Lets assume the budget is the same as the past year and the town/county/school does not have to raise taxes. we also need to assume the level of assessment remains the same.Lets say my homes market value goes down and therefor the assessed value goes down.
In this situation my tax bill would go down correct?
But if my tax bill goes down then the county will need more money to offset what they just lost on me.
How do they make up for this loss?
There seems to be a missing unexplained link to this equation.
What is your take on this
David M
So here is a question. Lets assume the budget is the same as the past year and the town/county/school does not have to raise taxes. we also need to assume the level of assessment remains the same.Lets say my homes market value goes down and therefor the assessed value goes down.
In this situation my tax bill would go down correct?
But if my tax bill goes down then the county will need more money to offset what they just lost on me.
How do they make up for this loss?
There seems to be a missing unexplained link to this equation.
What is your take on this
David M
Sunday, January 3, 2010
Plainview and Old-Bethpage Home Sales for December 2009
Eighteen houses sold in POB for the month of December.
Contact me today to find out what your neighbors house sold for!!
1) 6 John Dr Old Bethpage $463,000 Split
2) 41 Simpson Dr Old Bethpage $575,000 Split
3) 16 Melbourne Ln Old Bethpage $650,000 Hi Ranch
4) 25 Vernon St Plainview $325,000 Ranch
5) 15 Charlotte Pl Plainview $315,000 Ranch
6) 36 Wendell St Plainview $350,000 Cape
7) 30 Julliard Dr Plainview $378,000 Exp Ranch
8) 70 N Knickerbocke Rd Plainview $405,000 Ranch
9) 18 Sunnyside Blvd Plainview $421,500 Hi Ranch
10) 15 Fordham Dr Plainview $425,000 Split
11) 100 Lincoln Rd Plainview $417,000 Split
12) 52 Amby Ave Plainview $385,000 Cape
13 ) 28 Pine St Plainview $420,000 Split
14) 85 E Main Pky Plainview $450,000 Exp Cape
15) 21 Ruth Pl Plainview $615,000 Splanch
16) 16 Edgewood Gate Plainview $687,500 Split
17 ) 1 Pound Ridge Rd Plainview $625,000 Colonial
18) 30 Lillian Ln Plainview $800,000 Colonial
Contact me today to find out what your neighbors house sold for!!
1) 6 John Dr Old Bethpage $463,000 Split
2) 41 Simpson Dr Old Bethpage $575,000 Split
3) 16 Melbourne Ln Old Bethpage $650,000 Hi Ranch
4) 25 Vernon St Plainview $325,000 Ranch
5) 15 Charlotte Pl Plainview $315,000 Ranch
6) 36 Wendell St Plainview $350,000 Cape
7) 30 Julliard Dr Plainview $378,000 Exp Ranch
8) 70 N Knickerbocke Rd Plainview $405,000 Ranch
9) 18 Sunnyside Blvd Plainview $421,500 Hi Ranch
10) 15 Fordham Dr Plainview $425,000 Split
11) 100 Lincoln Rd Plainview $417,000 Split
12) 52 Amby Ave Plainview $385,000 Cape
13 ) 28 Pine St Plainview $420,000 Split
14) 85 E Main Pky Plainview $450,000 Exp Cape
15) 21 Ruth Pl Plainview $615,000 Splanch
16) 16 Edgewood Gate Plainview $687,500 Split
17 ) 1 Pound Ridge Rd Plainview $625,000 Colonial
18) 30 Lillian Ln Plainview $800,000 Colonial
Saturday, December 19, 2009
First Time Home Buyer Tax Credit at a Glance
FIRST TIME BUYERS Credit: Equal to 10 percent of the home's purchase price, up to $8,000 Who Qualifies?
Those who haven't owned property in the last three years
Those with income up to $225,000 for couples or $125,000 for individuals (credit phases out for people who make more than these amounts)
Must be at least 18 years of age to claim credit
Purchase price must be $800,000 or less
Deadlines:
Have until April 30, 2010, to enter into a contract for a home purchase
Have until June 30, 2010, to close on the purchase
CURRENT HOMEOWNERSCredit: Equal to 10 percent of the home's purchase price, up to $6,500 Who Qualifies?
Those who have owned and lived in their principal residence for at least five consecutive years during the past eight years
Those with income up to $225,000 for couples or $125,000 for individuals (credit phases out for people who make more than these amounts)
Must be at least 18 years of age to claim credit
Purchase price must be $800,000 or less
Deadlines:
Have until April 30, 2010, to enter into contract for a home purchase
Have until June 30, 2010, to close on the purchase
PLEASE NOTE: The tax credit does not have to be repaid provided you live in the new home for a minimum of three years. Military families are exempt from this stipulation.
Consult with a tax professional for individual eligibility and implications of the Homebuyer Tax Credit.
Source: H.R. UNEMPLOYMENT COMPENSATION EXTENSION ACT OF 2009
Those who haven't owned property in the last three years
Those with income up to $225,000 for couples or $125,000 for individuals (credit phases out for people who make more than these amounts)
Must be at least 18 years of age to claim credit
Purchase price must be $800,000 or less
Deadlines:
Have until April 30, 2010, to enter into a contract for a home purchase
Have until June 30, 2010, to close on the purchase
CURRENT HOMEOWNERSCredit: Equal to 10 percent of the home's purchase price, up to $6,500 Who Qualifies?
Those who have owned and lived in their principal residence for at least five consecutive years during the past eight years
Those with income up to $225,000 for couples or $125,000 for individuals (credit phases out for people who make more than these amounts)
Must be at least 18 years of age to claim credit
Purchase price must be $800,000 or less
Deadlines:
Have until April 30, 2010, to enter into contract for a home purchase
Have until June 30, 2010, to close on the purchase
PLEASE NOTE: The tax credit does not have to be repaid provided you live in the new home for a minimum of three years. Military families are exempt from this stipulation.
Consult with a tax professional for individual eligibility and implications of the Homebuyer Tax Credit.
Source: H.R. UNEMPLOYMENT COMPENSATION EXTENSION ACT OF 2009
Wednesday, December 9, 2009
House Sales for Plainview and Old-Bethpage, New York November 2009
1) 20 Eleanor Rd Plainview 11803 $360,000 Split
2) 7 Nassau Ave Plainview 11803 $375,000 Exp Cape
3) 9 Arthur Ct Plainview 11803 $382,000 Ranch
4) 44 Sally Ln Plainview 11803 $405,000 Hi Ranch
5) 11 Diamond Dr Plainview 11803 $408,999 Ranch
6) 14 Park Ct Plainview 11803 $410,000 Exp Ranch
7) 1259 Round Swamp Rd Old Bethpage 11804 $424,000 Colonial
8) 69 Cherry Dr Plainview 11803 $425,000 Hi Ranch
9) 7 Stone Rd Plainview 11803 $432,500 Split
10) 27 Richfield St Plainview 11803 $439,000 Colonial
11) 36 Debora Dr Plainview 11803 $440,000 Split
12) 63 Eileen Ave Plainview 11803 $465,000 Split
13 ) 25 Wensley Rd Plainview 11803 $465,000 Exp Ranch
14) 37 Peter Ln Plainview 11803 $500,000 Exp Ranch
15) 63A Barnum Ave Plainview 11803 $520,000 Hi Ranch
16) 11 Shelart St Plainview 11803 $554,000 Hi Ranch
17) 3 Lenmore Dr Old Bethpage 11804 $555,000 Colonial
18) 12 Melissa Ln Old Bethpage 11804 $560,000 Splanch
19) 32 Westbury Ave Plainview 11803 $565,000 Colonial
20) 6 Eton Ct Plainview 11803 $704,000 Colonial
21) 1020 Private Rd Plainview 11803 $930,000
Houses are selling! For information about your house contact me at http://www.Markschreier.com
2) 7 Nassau Ave Plainview 11803 $375,000 Exp Cape
3) 9 Arthur Ct Plainview 11803 $382,000 Ranch
4) 44 Sally Ln Plainview 11803 $405,000 Hi Ranch
5) 11 Diamond Dr Plainview 11803 $408,999 Ranch
6) 14 Park Ct Plainview 11803 $410,000 Exp Ranch
7) 1259 Round Swamp Rd Old Bethpage 11804 $424,000 Colonial
8) 69 Cherry Dr Plainview 11803 $425,000 Hi Ranch
9) 7 Stone Rd Plainview 11803 $432,500 Split
10) 27 Richfield St Plainview 11803 $439,000 Colonial
11) 36 Debora Dr Plainview 11803 $440,000 Split
12) 63 Eileen Ave Plainview 11803 $465,000 Split
13 ) 25 Wensley Rd Plainview 11803 $465,000 Exp Ranch
14) 37 Peter Ln Plainview 11803 $500,000 Exp Ranch
15) 63A Barnum Ave Plainview 11803 $520,000 Hi Ranch
16) 11 Shelart St Plainview 11803 $554,000 Hi Ranch
17) 3 Lenmore Dr Old Bethpage 11804 $555,000 Colonial
18) 12 Melissa Ln Old Bethpage 11804 $560,000 Splanch
19) 32 Westbury Ave Plainview 11803 $565,000 Colonial
20) 6 Eton Ct Plainview 11803 $704,000 Colonial
21) 1020 Private Rd Plainview 11803 $930,000
Houses are selling! For information about your house contact me at http://www.Markschreier.com
Wednesday, November 11, 2009
1st Time Home Buyer Tax Credit. Yes They Extended it!!!
1st Time Home Owner Tax Credit. Yes They Extended it!!! (edit/delete)
Great News For Home Buyers!!
The answer is yes. The U.S. government extended the 8,000 first time home buyer tax cerdit last Friday November 6th. You must be under contract by April 30th 2010 and close by June 30th of the same year. They have also increased the maximum income limits from 75k to125k individual and 150k to 225k couples. They also added a 6,500 credit for current home owners who want to buy another home.
For more info go to:
http://www.youtube.com/watch?v=it-i_pbt1os
http://bit.ly/12IgrT
Great News For Home Buyers!!
The answer is yes. The U.S. government extended the 8,000 first time home buyer tax cerdit last Friday November 6th. You must be under contract by April 30th 2010 and close by June 30th of the same year. They have also increased the maximum income limits from 75k to125k individual and 150k to 225k couples. They also added a 6,500 credit for current home owners who want to buy another home.
For more info go to:
http://www.youtube.com/watch?v=it-i_pbt1os
http://bit.ly/12IgrT
Sunday, November 1, 2009
Plainview/Old-Bethpage, NY Real Estate Home Sales For October, 2009
Closings For October, 2009
1 ) 19 Sheli Dr Old Bethpage 11804 $410,000 Ranch
2) 19 Prescott Pl Old Bethpage 11804 $630,000 Exp Ranch
3) 79 Briarwood Ln Plainview 11803 $350,000 Split
4) 614 Woodbury Rd Plainview 11803 $335,000 Colonial
5) 26 Southern Pky Plainview 11803 $425,000 Ranch
6) 37 Charlotte Pl Plainview 11803 $389,000 Ranch
7) 260 Central Park Rd Plainview 11803 $395,000 Ranch
8) 19 Marilyn Blvd Plainview 11803 $420,000 Split
9) 11 Wendell St Plainview11803 $410,000 Ranch
10) 68 Diamond Dr Plainview 11803 $442,00 Ranch
11) 106 Knickerbocke Rd Plainview 11803 $447,500 Exp Ranch
12) 70 Victor St Plainview11803 $460,000 Ranch
13) 7 Ramsey Rd Plainview 11803 $375,000 Colonial
14) 58 Diamond Dr Plainview 11803 $475,000 Exp Ranch
15) 2 Cynthia Dr Plainview 11803 $485,000 Split
16) 47 Blanche St Plainview 11803 $522,500 Split
17) 30 Woodwaye Rd Plainview 11803 $525,000 Colonial
18) 50 Sagamore St Plainview 11803 $525,000 Split
19) 22 Newcastle Ave Plainview 11803 $495,000 Split
20) 7 Milben Ct Plainview 11803 $530,000 Hi Ranch
21) 75 Farmers Ave Plainview 11803 $538,000 Split
22) 61 Shelter Hill Rd Plainview 11803 $580,000 Split
23) 44 Maplewood Dr Plainview 11803 $675,000 Split
24) 78 Hofstra Dr Plainview 11803 $675,000 Colonial
25) 78 Hofstra Dr Plainview 11803 $675,000 Colonial
26) 8 Winters Ct Plainview 11803 $811,000 Colonial
27 ) 33 Sagamore St Plainview 11803 $765,000 Colonial
1 ) 19 Sheli Dr Old Bethpage 11804 $410,000 Ranch
2) 19 Prescott Pl Old Bethpage 11804 $630,000 Exp Ranch
3) 79 Briarwood Ln Plainview 11803 $350,000 Split
4) 614 Woodbury Rd Plainview 11803 $335,000 Colonial
5) 26 Southern Pky Plainview 11803 $425,000 Ranch
6) 37 Charlotte Pl Plainview 11803 $389,000 Ranch
7) 260 Central Park Rd Plainview 11803 $395,000 Ranch
8) 19 Marilyn Blvd Plainview 11803 $420,000 Split
9) 11 Wendell St Plainview11803 $410,000 Ranch
10) 68 Diamond Dr Plainview 11803 $442,00 Ranch
11) 106 Knickerbocke Rd Plainview 11803 $447,500 Exp Ranch
12) 70 Victor St Plainview11803 $460,000 Ranch
13) 7 Ramsey Rd Plainview 11803 $375,000 Colonial
14) 58 Diamond Dr Plainview 11803 $475,000 Exp Ranch
15) 2 Cynthia Dr Plainview 11803 $485,000 Split
16) 47 Blanche St Plainview 11803 $522,500 Split
17) 30 Woodwaye Rd Plainview 11803 $525,000 Colonial
18) 50 Sagamore St Plainview 11803 $525,000 Split
19) 22 Newcastle Ave Plainview 11803 $495,000 Split
20) 7 Milben Ct Plainview 11803 $530,000 Hi Ranch
21) 75 Farmers Ave Plainview 11803 $538,000 Split
22) 61 Shelter Hill Rd Plainview 11803 $580,000 Split
23) 44 Maplewood Dr Plainview 11803 $675,000 Split
24) 78 Hofstra Dr Plainview 11803 $675,000 Colonial
25) 78 Hofstra Dr Plainview 11803 $675,000 Colonial
26) 8 Winters Ct Plainview 11803 $811,000 Colonial
27 ) 33 Sagamore St Plainview 11803 $765,000 Colonial
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