Stacey, Home Buyer in Rochester, NY

Why are the prices of homes so low, but taxes are so high in East Rochester?

Asked by Stacey, Rochester, NY Sat Feb 14, 2009

East Rochester

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Really a good question and the answers you received are accurate, however if the village of East Rochester abolished their police department and consolidated their school district they would fall in line with the rest of the county. There would not be an significant offsetting charge from the Sheriff's department, they already maintain a substation close by and the adjoining towns without police departments who rely on the Sheriff don't pay anywhere near what E. Rochester pays for their police department.

The fact about high taxes = lower property prices does have an advantage of sorts, however. There is an after tax benefit. Mortgage interest and real property taxes are deductible if you itemize on your tax return. As you pay down your mortgage however, the amount of interest you are paying declines as the portion of your paymetn goes increasingly to paying back principal on the loan. Thus your tax deduction decreases over time. With a higher percentage of your monthly payment going to property taxes you maintain a higher tax deduction. Not smoke and mirrors, this is real. You can decide if this is a factor for you as you search for homes.

The problem for BUYERS is when they look at a $120,000 home in East Rochester the taxes are so much more than a $120,000 home elsewhere, i t messes up their mortgage qualifying and the anticipated monthly payment. . However a $120K home in E Rochester is probably a $140K home elsewhere in the Eastern Suburbs. When looking in E Rochester take the purchase price down $10 - 15K. This will give you an equivalent home and the lower price will offset the higher taxes.

In this area the Villages offer a unique living environment - a kind of small town closeness not apparent in the typical suburban setting. The fact is East Rochester offers the village ambiance at a price far below Fairport, Pittsford, Spencerport or Scottsville. Think out of the box and look for opportunities like this. It sometimes pays off to be a contrarian thinker.
0 votes Thank Flag Link Wed Mar 27, 2013
The prices are low -because- the taxes are high. People can only spend $X for housing. When taxes take all the money, the house prices cannot rise like they do elsewhere. Look around the country; you'll see that this is the way it works. Payments include tax. Your payment could be mostly tax or it could be mostly house; either one or the other.
0 votes Thank Flag Link Wed Apr 29, 2009
because our town is 1.1 sq miles, so that all the houese have to bear the brunt of all the services, such as dpw garbage, fire ambulance , any services has an impact on such a small community, if we lets say abolished the erpd, and let the mc sheriffs take over, we would then have to pay th emc sheriffs for service vrs our own pd. thats the truth we are the highest in ny i believe its 50 dollasr per 1000 at the momemnt
0 votes Thank Flag Link Wed Apr 22, 2009
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