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06.04.08, 10:29 AM General Topics
23 replies
Should new construction in Manhattan/NYC be "taxed" to cover building new public schools? [ Reply | Watch | Flag ]
General Topics 06.04.08, 10:29 AM Flag
 

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no. The people who are buying in the new buildings will send their dc's to private school anyway. [ Reply | More
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General Topics 06.04.08, 10:30 AM Flag
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Does the Pope wear a funny hat? [ Reply | More
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General Topics 06.04.08, 10:30 AM Flag
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doesn't the pope wear a yarmelke (sp?)? [ Reply | More
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General Topics 06.04.08, 10:48 AM Flag
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he wears both - the pointy one is the more official/formal one. [ Reply | More
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General Topics 06.04.08, 10:48 AM Flag
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np: no kidding [ Reply | More
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General Topics 06.04.08, 12:35 PM Flag
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of course, but will it? NO. [ Reply | More
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General Topics 06.04.08, 10:37 AM Flag
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I am not familiar where the money for the schools is coming from here in NYC. Everywhere else property taxes are used for that. It is different in the city, isn't it? [ Reply | More
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General Topics 06.04.08, 10:40 AM Flag
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It is different in nyc [ Reply | More
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General Topics 06.04.08, 10:42 AM Flag
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so the taxes used for the schools is not proportional to the number of families living in a zone? [ Reply | More
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General Topics 06.04.08, 10:44 AM Flag
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we are all already overtaxed. Make the gov't live on a budget! [ Reply | More
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General Topics 06.04.08, 10:45 AM Flag
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But look at the 10 year tax abatements the new construction gets. Yes, we coop owners (and old condo owners) are suffering, but I would suggest that the suffering is BECAUSE of the new Construction: (1) they increase stress on Public Schools (2) They are not taxed for 10 years! [ Reply | More
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General Topics 06.04.08, 10:48 AM Flag
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well, I'm not in NYC so the situation may be slightly dif in this case. However, in most cases all around the ocuntry, there is plenty of $$ coming in to do the things that need to be done. There is far too much waste and admin costs that should be trimmed to the bare bones! [ Reply | More
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General Topics 06.04.08, 10:49 AM Flag
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i live in a building enjoying the "benefits" of a new construction tax abatement and still pay a fortune in RE taxes -- about $13k per year -- in addition to common charges of $1100/month. after 10 years my RE taxes are expected to increase to $24k per year -- almost double. yeah, i'm really getting a break on taxes. [ Reply | More
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General Topics 06.04.08, 12:33 PM Flag
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No one in NYC is paying a fortune in property taxes compared to the rest of the area. That said, the NYC tax base, unlike other areas, is not based on property taxes but rather income taxes and other sources of revenue. [ Reply | More
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General Topics 06.04.08, 12:40 PM Flag
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false, if you mean the suburbs by the rest of the area. only the highest tax suburbs like scarsdale and the like have property taxes that are much higher than $13k or so a year, and even then, you're getting at least a small parcel of land. [ Reply | More
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General Topics 06.04.08, 12:48 PM Flag
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based on assesed value? Avg Suffolk County home:$400K Avg Property tax: $6,300 [ Reply | More
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General Topics 06.04.08, 01:00 PM Flag
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^^^I should add I am surprised yours is so high. What did you pay for it? [ Reply | More
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General Topics 06.04.08, 01:02 PM Flag
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I live in a coop. Why do I not know my property tax? I thought I paid it through my maintenance. [ Reply | More
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General Topics 06.04.08, 06:34 PM Flag
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Yes, all new development should pay for the additional infrastructure that is required to service the building. Schools are part of that infrastructure. [ Reply | More
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General Topics 06.04.08, 10:46 AM Flag
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Why should the burden fall on such a small segment? You don't pay an extra tax when you buy in an existing building? Why should this cost fall only on those who buy new construction when the benefit is public? [ Reply | More
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General Topics 06.04.08, 01:15 PM Flag
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Because the apartment in an older building is already supported by the existing infrastructure. The new building is putting more stress on an already stressed system. [ Reply | More
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General Topics 06.04.08, 06:26 PM Flag
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ITA [ Reply | More
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General Topics 06.04.08, 06:35 PM Flag
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Absolutely YES. Otherwise, I wish NYC will stop giving permits to build in Manhattan. IT's way too crowded. [ Reply | More
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General Topics 06.04.08, 01:22 PM Flag
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