Home Buying in Mahopac>Question Details

Laura, Home Buyer in Tarrytown, NY

My boyfriend and I are looking to purchase a raised ranch in Mahopac, NY this spring. We heard that the town

Asked by Laura, Tarrytown, NY Thu Mar 27, 2008

is hurting for money, so what we see on the MLS sheet for the previous tax year may be completely irrelevant. If we see something with taxes 8-9K, what could we assume the increase will be (%)assuming no changes were done to the house, and also the declining values? Does anyone know what the school budget looks like for the next couple years? Thanks!

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If the house situation does not work out maybe consider buying a town house. I'm selling one in Mahopac-Williamsburg Ridge. NEWLY updated everything! 2,000 sq.ft. Private setting. Something to consider.
0 votes Thank Flag Link Tue Jun 1, 2010
I have lived in Putnam county for more than 20 years, and given the way houses are selling(or aren't, if you're as pessimist) I wouldn't worry at all about any kind of "population explosion" children-wise. The truth is people have come up to this region from all over the city(mostly The Bronx and Yonkers )for decades . All of the local school districts are good ones, the taxes , even though they are NOT cheap, are better than the area most people are leaving. So while they may rise, that would be the case anywhere; Long Island, the city, you get the idea. And It's a great place to live, too. There are a lot of parks, lakes, even a bike path that runs from Mahopac into Carmel, and will soon reach Brewster as well. Another place those taxes go, btw.
0 votes Thank Flag Link Wed Jul 1, 2009
Hey Laura,

Though I don't know much about the financial situation of the town of mahopac, I will tell you this much. There is alot of Pre-Foreclosure properties that will soon be foreclosures in the Mahopac area (according to Realtytrac) You will be looking at the best time. I can be reached anytime to provide you more information at 914-447-2081 or you can visit my website at http://www.JohnOliveira.com
0 votes Thank Flag Link Fri Apr 4, 2008
Zack I was not 100% satisfied with my own answer so I want to elaborate. Sure increased amount of students over the years can have an effect on the taxes going up but there are other factors, ie; salary increases, health insurance, pension, gas prices, mandates from state and federal government etc. "No Child Left Behind" requires additional services to kids and requires additional testing. Teachers then need to be sent to get trained on scoring those tests and substitues need to be paid every time the teachers are sent to the training sessions. Also, costs for operating buildings have gone up because of increased costs for electric, heating, running busses, insurance.

As far as Mahopac School District is concerned, we are the 4th from the bottom out 46 school districts in the area in terms of Per Pupil Cost so things are not even close to being bad compared to others. I can only imagine how bad it must be to be in the school district that are in the top 10 Per Pupil Cost.
0 votes Thank Flag Link Thu Mar 27, 2008
Given what Michael has said, I'd be very surprised if taxes took a huge jump barring the town being broke and then jacking up sanitation, fire, etc and all that. Given that he lives there, I think that's the best you can do other than get the minutes from town meetings and start looking for problems.

Thanks for you quick response. As I said above, and increase in household is pretty unlikely to be widespread enough to require new classrooms be built etc which would have a huge effect on the school budget. I understand buyers see what it was, and what it is and think its a deal. People tend not to have a point of reference so they use what they have, which is the mythical values that were reached recently. If you were fortunate enough ot have sold in '05, or unfortunate enough to have bought then, they're suffering now. Historically, home prices are dependent on local income values, proximity to employment etc, the recent bubble and unwind still has that relationship way off which implies for homes to truly be affordable, they have further to fall. If you can rent a house for 60% of what it would cost to buy, something is seriously wrong and until that's not true, houses will fall or stagnate and let inflation do the work for them.
0 votes Thank Flag Link Thu Mar 27, 2008
Hi Zack, I understand your point on how high prices were but as far as the dozens of clients I am dealing with right now as well as some of my buyer agents that work with me the buyers feeling or perception right now is the prices are great.

As I said I sold raised ranches for a LOT more money 1-2 years ago and my clients feel the prices are a steal right now but everyone has their own feelings on the current prices. As far as MDU's being built - no, but what is happening is lots of families coming up from Westchester and the Bronx with 3 - 7 (yes 7) kids in a house that had 1-2 or no kids. So yes for this example the # of houses for the most part are the same but the # of kids per household has been increasing at least from what I have seen 1st hand.
Web Reference: http://www.MikeTrinch.com
0 votes Thank Flag Link Thu Mar 27, 2008
What they used to sell for is irrelevant, those people had bad timing and were reckless and now have a monthly payment nearly 1k more than in should be. I used to see people buy BSC stock for $150, now its going for $11! What a deal! Onto my real question, Michael, has there been a lot of MDUs and townhouses built in Mahopac recently? This happened in Armonk and the taxes jumped nearly 40% in 2 years because MDUs especially bring in a lot more student that means school additions and hiring and mucho dinero. If the number of houses is near the same, the school shouldn't need much more money then its already getting.

0 votes Thank Flag Link Thu Mar 27, 2008
its is 1/2 the cost of owning
wait until housing prices drop
just dropped 8.2% from 2007


good luck
0 votes Thank Flag Link Thu Mar 27, 2008
I live in Mahopac and I would not say the town is hurting for money at all but so many people buy in Mahopac because of the great school system that the amount of students in the school increase, more teachers, programs, buses, even classrooms are needed and they have to be paid for somehow. If the school taxes go up this year again it will probably only be a few hundred dollars as is usually what the increase ends up being. There are a lot of raised ranches for sale, I used to sell them for way over $500,000 and now they are $400,000-$460,000. If I can be of any help let me know. Mike@MikeTrinch.com.
0 votes Thank Flag Link Thu Mar 27, 2008
Contact me offline and I will provide you with the name of an incredible Realtor who lives in Mahopac and will be able to assist you.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Thu Mar 27, 2008
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