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Can you believe these property taxes>
- Thread starter ejb
- Start date
- Views: 2966
>>Those farms are in my back yard, at $1000 / acre they are bargains in my book, all have several nice buildings and some of them have waterfront property. Unfortunately they will most like be snatched up by developers and carved up.
Which was kind-of my point, even if $40/acre in taxes is cheap for a few acres, $24K in taxes makes it real expensive to be able to afford to farm. I would love to own a place like those, maybe not quite as big, but no way I want to pay the first $2000 per month GROSS in property taxes.
I for one, really think legitamite farmland (not country estates) should have to pay almost no taxes; perhaps a tax on the value of goods produced or net income instead. Once all this farmland is carved up into mcmansion building lots, its never coming back....and thats a real shame.
At $700K for the property, and $24K per year in taxes, you are losing 3.5% of your investment every year.
I am curious though, isn't there some sort of tax-exemption for farms in NY state?
Which was kind-of my point, even if $40/acre in taxes is cheap for a few acres, $24K in taxes makes it real expensive to be able to afford to farm. I would love to own a place like those, maybe not quite as big, but no way I want to pay the first $2000 per month GROSS in property taxes.
I for one, really think legitamite farmland (not country estates) should have to pay almost no taxes; perhaps a tax on the value of goods produced or net income instead. Once all this farmland is carved up into mcmansion building lots, its never coming back....and thats a real shame.
At $700K for the property, and $24K per year in taxes, you are losing 3.5% of your investment every year.
I am curious though, isn't there some sort of tax-exemption for farms in NY state?
cowboydoc
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Yea property taxes are a real sore subject with me. The flat answer is you can't afford to farm with the property taxes high like that. I know places that are 100 years old around here that they are just tearing down. They're doing it because the farmers can't afford the taxes on the buildings. I'm not talking about falling down buildings. I'm talking about buildings that are still very nice and useable. But the rotten county can't raise the taxes on the land so they jack it way up on buildings. I have a patient who has an absolutely beautiful horse farm that was at one time the top racing facility in the midwest. They had several champions here. It is a deep and rich history. Since then his father passed and they didn't keep up the high profile status. However the place is just immaculate. They have over 120 acres just in horse paddocks!!! The place is just amazing. I was heartbroke last month when he told me that they were tearing it all down. He said the county up there had it valued so high and he had already spent $30,000 in lawyer fees to do something about it but had failed. His taxes on this place were $9000 a month!!!! That's just insane. Well now the place will be torn down and just put into farmground. The taxes without the buildings, $2400 a year, and that includes the other 500 acres around the stables that is already just farmground!!!!! It's really sad that these people just keep pushing for more taxes more taxes more taxes. It's like the stupid politicians that keep saying no tax breaks for the upper income levels. Well nevermind that the upper income levels pay 80 plus percent of the taxes. You make more and get taxed more what's the purpose in making more?? /forums/images/graemlins/confused.gif But I digress and this is already getting political. So I'll just quit while I'm behind. /forums/images/graemlins/frown.gif
utahmule
Silver Member
Southwest Utah, on one of our 20 acre parcels with no structures, we just got our tax bill: $4.56. /forums/images/graemlins/blush.gif For that price we can hang on for while.
Dave___in___CT
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The whole property tax based system stinks... it's old and outdated...
You can have land... a house... whatever... that's all paid for... but can't afford to keep because of property taxes...
Dave...
You can have land... a house... whatever... that's all paid for... but can't afford to keep because of property taxes...
Dave...
ByronBob
Veteran Member
Erie county is for all practical purposes is so bankrupt and in debt that they have essentially turned over to the state to bail them out. More per person tax dollars from the state go to Erie Co than anywhere else in the state.
The next county to the east of Erie Co is where I live. When everyone mentions taxes per acre are they including school and state taxes together. Because I pay based on asessment of my property which includes my house and such, not undeveloped property.
WNY is not the place to move to. At some point the state has to make changes to how they do business with who's left. My kids have a good school district and good education here but I pay through the nose for it.
The next county to the east of Erie Co is where I live. When everyone mentions taxes per acre are they including school and state taxes together. Because I pay based on asessment of my property which includes my house and such, not undeveloped property.
WNY is not the place to move to. At some point the state has to make changes to how they do business with who's left. My kids have a good school district and good education here but I pay through the nose for it.
slowrev
Elite Member
Dave,
One never fully owns land in the good ol USA. If you don't believe that just don't pay your taxes. We just sort of "own" the right to keep other taxpayers off of it as long as we keep our taxes paid.
Ben
One never fully owns land in the good ol USA. If you don't believe that just don't pay your taxes. We just sort of "own" the right to keep other taxpayers off of it as long as we keep our taxes paid.
Ben
</font><font color="blue" class="small">( When everyone mentions taxes per acre are they including school and state taxes together. Because I pay based on asessment of my property which includes my house and such, not undeveloped property.)</font>
ByronBob. The tax bill I mentioned was for a separately deeded and undeveloped chunk of land. The $65 was for school and county taxes.
If they do raise the tax in Erie county, hang on to your place. There will probably be a mass exodus out of Erie into Cattaraugus, Chautauqua, Genessee and Orleans counties. The market value of housing in those areas will probably go way up.
ByronBob. The tax bill I mentioned was for a separately deeded and undeveloped chunk of land. The $65 was for school and county taxes.
If they do raise the tax in Erie county, hang on to your place. There will probably be a mass exodus out of Erie into Cattaraugus, Chautauqua, Genessee and Orleans counties. The market value of housing in those areas will probably go way up.