12% ? Move on, nothing to see here. What do you think will happen next year or in two years? Imagine if the tax write off goes away with the tax proposal. Fixed cost? Why not outsource and lay off staff? no health insurance cost with that scenario. Next year, taxes might go down a % but in two years the cost will go up, IMO. Keep in mind, the revenue is based on a certain number of tax properties - let’s say WS has 20,000 properties, paying taxes in 2017, next year, 1k properties become zombie houses, can’t make the payment. How do you recover the 1k gap? Could be years before the taxes are paid back assuming you found a buyer or worse, a renter.
12% is not a deal breaker for a lot of people but if the school taxes go up as well, that would be a kick to the groin IMO.
What happens when the market can’t return 6.5%? Taxes will go up. Cuomo will ask for a higher % from the towns to fill the gap.
Here are some comparisons, not 100% accurate though.
In my opinion the reason for the cost increases
1. Salaries
2. Spending
3. Insurance, pensions
1. Eliminate the new position
2. Hiring freeze
3. Outsource police and sanitation
4. Layoff staff
Look at the property tax cost on this $80k on Center Rd. $4200k/year with 12% tax increase.
https://www.realtor.com/realestatean...4_M39645-24436
Almost 12k with 12% increase
https://www.realtor.com/realestatean...4_M30901-83615
Orchard Park $4500
https://www.realtor.com/realestatean...7_M39183-37412
Taxes in Tempe, AZ 5k
https://www.realtor.com/realestatean...4_M14852-92667
Laguna Beach, CA Private beach access for a private beach, $12k in taxes
https://www.realtor.com/realestatean...1_M14777-50550