What are your property/school taxes like? [Archive]

View Full Version : What are your property/school taxes like?

Amy

02-13-2005, 01:50 PM

In my other thread, I was wondering about retirement and noticed that some of you will stay in your own home or nearby. I don't know if dh or I could afford to stay in our area after the kids leave. As of right now, our taxes for school and property are $5200. That is with a STAR discount and military discounts. It would be closer to $6000 otherwise. God only knows what that will be like in 15-20 years. The house should be paid off by then, but it will still be like paying major rent just for the taxes alone.

AnnW

02-13-2005, 02:06 PM

Here, after 55 you are exempt from property taxes.

Amy

02-13-2005, 02:11 PM

Really??? So you still pay school taxes?

AnnW

02-13-2005, 02:14 PM

actually, I have it backward. Exempt on school taxes. You get an adjusted fee on property taxes.

Amy

02-13-2005, 02:29 PM

I just called my Dad and asked him what NYS did. Senior citizens (65 and older) who make under 24k a year can get 50% off their taxable value of their house. So if my house is 200K taxable, it would then be taxable at 100k. If you make over 24k, then it is on a sliding rule and its only for school taxes. It would still be expensive here!

AnnW

02-13-2005, 04:27 PM

Just one more reason not to live there!!!