Home Buying in 10306>Question Details

Don, Home Buyer in 10306

Why are property taxes much higher at 145 Lincoln Ave Staten Island, NY, 10306 than at 70 SATURN LN 10314?

Asked by Don, 10306 Tue Jun 23, 2009

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Square footage differences, improvements, updated assessments, recent sales, present market value, and tax exemptions all factor in. A potential buyer will need to know the true tax when calculating his/her expenses. Some examples of exemptions are "Gold Star" (parents who have lost a child in combat), Elderly exemption (given to certain homeowners aged 65 or older with modest incomes), Veterans exemption (qualified veterans who served during a conflict may receive partial property tax exemption of 15% of the value of a primary residence), Star Program (School Tax Relief Program), and enhanced STaR. I hope this information has been helpful. Please visit us at http://www.clovelake.com
Web Reference: http://www.clovelake.com
1 vote Thank Flag Link Wed Jun 24, 2009
Taxes are sometimes not what they seem. If the present owner is a combat disabled veteran, he/she may receive a big discount. Also if an owner income is very low, and they are over 65 years of age, they can also get an additional discount. So sometimes your are looking at an exception rather than the norm. Check several properties to see if there is really a difference. Basically present market value determines taxes.
0 votes Thank Flag Link Wed Jun 24, 2009
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