I just ran into this myself. We found a perfect home in Wallkill with a market value of $552K recorded in the county clerk's office for tax assessment. Land tax is $5,200. Wallkill school tax is $17,000.
Yes - a total of $22,000 per year for a home valued at $552K. Basically, a mortgage payment that never ends.
We were pretty distraught about this as the home was exactly what we are looking for and near our jobs. The solution to this is literally going to break our family up as we will have to move out of the area.... more