fucking property/school taxes

decides2dream

yes, a rant.


just this past saturday i had the most unfortunate/unhappy news awaiting me in my mailbox. a statment from our mortgage company with our adjustments for the year. any of you with a mortgage know well that there is the escrow portion of your monthly payment...to cover your taxes and home insurance. this escrow balance, by law, must be maintained to a certain figure at all times.

well seeing as we live on long island, our property taxes have always been rather exhorbinant, tis the name of the game here...and sure, we accept that sad fact. we also FULLY support contributing to our community, paying our share...supporting our community children and schools...even though sure, we are childless ourselves...never begrudging supporting education.

however......we have been informed that due to our property taxes being raised 2k in one year.....coupled with maintaining a proper escrow balance...as of may 1st....our monthly payment is being raised by $400.....just like that. cover the new tax load, and make up our escrow shortage. :mad: wtf. seriously....how is anyone expected to all of a sudden afford an extra $400 month....given 2 months notice. our taxes have more than doubled in the 10 years we've owned our house. i WISH my salary had done the same.


yep...it's a choice to live here....etc......etc......but DAMN.
i've never thought of moving more....but with my husband's work, nearly impossible to leave the area......bleh. utterly ridiculous.

/end rant.

tybird

decides2dream wrote:

i WISH my salary had done the same.

Sounds like you need to move to Alabama and win a seat in the state legislature...they just gave themselves a 62% raise...the gov vetoed it...they overrode the veto.

I also hope that y'all have some really nice schools out there on the island.

hrd2imgn

1. did you vote for any of the school referendum that may have been up?

2. Schools are not the only things that make property taxes go up, parks, and city/county activites go on there too. Stuff like bike trails, public pools and all that may have been part of it.


3. if it makes your schools better your property value will go up making you more money later if you sell


yes higher taxes do suck, I say that as one whose has gone up almost 100% and am a teacher

chrisg72

If our taxes went up that much, we'd have to move. I could not afford an additional $400 per month. That is crazy. We pay $5500 a year for taxes and our property size is approximately 52X100, it's small.

Alex_Coe

Don't say "Fuck". It's not a nice word. Use "cabbage" in its stead.

blackredyellow

hrd2imgn wrote:

3. if it makes your schools better your property value will go up making you more money later if you sell

Not entirely true... with the housing market down around the country, our realtor (we are casually house hunting) told us the hardest place to sell a house right now are in the high tax areas. House prices have risen so much over the years that people can't afford the high mortgages AND high taxes, so the asking prices of the houses are going down as a direct result of the higher taxes.

qtegirl

Our monthly payment is going up $200 this year for the same reasons.

Sometimes, I wish we were renting... but I'm sure that would go up as well. There's no way around it.

Drowned Out

I shudder to think what would happen if my city reassesed our property values...the market has gone up 100% in the last four years. property taxes have gone up a lot(for school/infrastructure, etc.), but it's still based on very low home values... if the actual taxable value was brought in line with the current market, I think there'd be a lot of people losing their houses.


sorry to hear that dream. I hope you two find a way to make it work for. Property taxes are such a wildcard...there's no way to plan for that kind of hit:(
Good luck to ya.

gue_barium

decides2dream wrote:

yes, a rant.


just this past saturday i had the most unfortunate/unhappy news awaiting me in my mailbox. a statment from our mortgage company with our adjustments for the year. any of you with a mortgage know well that there is the escrow portion of your monthly payment...to cover your taxes and home insurance. this escrow balance, by law, must be maintained to a certain figure at all times.

well seeing as we live on long island, our property taxes have always been rather exhorbinant, tis the name of the game here...and sure, we accept that sad fact. we also FULLY support contributing to our community, paying our share...supporting our community children and schools...even though sure, we are childless ourselves...never begrudging supporting education.

however......we have been informed that due to our property taxes being raised 2k in one year.....coupled with maintaining a proper escrow balance...as of may 1st....our monthly payment is being raised by $400.....just like that. cover the new tax load, and make up our escrow shortage. :mad: wtf. seriously....how is anyone expected to all of a sudden afford an extra $400 month....given 2 months notice. our taxes have more than doubled in the 10 years we've owned our house. i WISH my salary had done the same.


yep...it's a choice to live here....etc......etc......but DAMN.
i've never thought of moving more....but with my husband's work, nearly impossible to leave the area......bleh. utterly ridiculous.

/end rant.

Hillary.

gue_barium

decides2dream wrote:

yes, a rant.


just this past saturday i had the most unfortunate/unhappy news awaiting me in my mailbox. a statment from our mortgage company with our adjustments for the year. any of you with a mortgage know well that there is the escrow portion of your monthly payment...to cover your taxes and home insurance. this escrow balance, by law, must be maintained to a certain figure at all times.

well seeing as we live on long island, our property taxes have always been rather exhorbinant, tis the name of the game here...and sure, we accept that sad fact. we also FULLY support contributing to our community, paying our share...supporting our community children and schools...even though sure, we are childless ourselves...never begrudging supporting education.

however......we have been informed that due to our property taxes being raised 2k in one year.....coupled with maintaining a proper escrow balance...as of may 1st....our monthly payment is being raised by $400.....just like that. cover the new tax load, and make up our escrow shortage. :mad: wtf. seriously....how is anyone expected to all of a sudden afford an extra $400 month....given 2 months notice. our taxes have more than doubled in the 10 years we've owned our house. i WISH my salary had done the same.


yep...it's a choice to live here....etc......etc......but DAMN.
i've never thought of moving more....but with my husband's work, nearly impossible to leave the area......bleh. utterly ridiculous.

/end rant.

That's seriously fucked up.
Now I'm pissed off.

josevolution

decides2dream wrote:

yes, a rant.


just this past saturday i had the most unfortunate/unhappy news awaiting me in my mailbox. a statment from our mortgage company with our adjustments for the year. any of you with a mortgage know well that there is the escrow portion of your monthly payment...to cover your taxes and home insurance. this escrow balance, by law, must be maintained to a certain figure at all times.

well seeing as we live on long island, our property taxes have always been rather exhorbinant, tis the name of the game here...and sure, we accept that sad fact. we also FULLY support contributing to our community, paying our share...supporting our community children and schools...even though sure, we are childless ourselves...never begrudging supporting education.

however......we have been informed that due to our property taxes being raised 2k in one year.....coupled with maintaining a proper escrow balance...as of may 1st....our monthly payment is being raised by $400.....just like that. cover the new tax load, and make up our escrow shortage. :mad: wtf. seriously....how is anyone expected to all of a sudden afford an extra $400 month....given 2 months notice. our taxes have more than doubled in the 10 years we've owned our house. i WISH my salary had done the same.


yep...it's a choice to live here....etc......etc......but DAMN.
i've never thought of moving more....but with my husband's work, nearly impossible to leave the area......bleh. utterly ridiculous.

/end rant.

is that across all of long island now i need to look at my last mortage bill to see if anything like this is on the way for me ,where on the island are you ??

know1

It doesn't help the tax situation there, but you don't have to participate in escrow. You can pay the taxes yourself at the end of the year. In this case, you would just pay yourself the monthly amount for the property tax and whatever other taxes are available, collect the interest, and pay it at the end when it's due. I've never had escrow on my home loans.

hrd2imgn

stop fucking(cabbaging) and having children, then all the schools will go away.

or get out and vote for politicians with real ideas for funding schools

justam

decides2dream wrote:

yes, a rant.


just this past saturday i had the most unfortunate/unhappy news awaiting me in my mailbox. a statment from our mortgage company with our adjustments for the year. any of you with a mortgage know well that there is the escrow portion of your monthly payment...to cover your taxes and home insurance. this escrow balance, by law, must be maintained to a certain figure at all times.

well seeing as we live on long island, our property taxes have always been rather exhorbinant, tis the name of the game here...and sure, we accept that sad fact. we also FULLY support contributing to our community, paying our share...supporting our community children and schools...even though sure, we are childless ourselves...never begrudging supporting education.

however......we have been informed that due to our property taxes being raised 2k in one year.....coupled with maintaining a proper escrow balance...as of may 1st....our monthly payment is being raised by $400.....just like that. cover the new tax load, and make up our escrow shortage. :mad: wtf. seriously....how is anyone expected to all of a sudden afford an extra $400 month....given 2 months notice. our taxes have more than doubled in the 10 years we've owned our house. i WISH my salary had done the same.


yep...it's a choice to live here....etc......etc......but DAMN.
i've never thought of moving more....but with my husband's work, nearly impossible to leave the area......bleh. utterly ridiculous.

/end rant.

Our property taxes have gone up quite a bit the last few years too. They go up every year, but they've gone up A LOT in the last few years.

It's frustrating, but we have children in the school district so it is a little less painful to us. We like the good schools here.

JonnyPistachio

same thing down here in Florida. I was renting out my old house, and now I have to sell it. And the market is shit. MY payment went ffrom $785 a month (mortgage/tax/ins) to $1,051 in the last six months.
the worst part is, the house is 695 sq ft.!!!

AllNiteThing

Same thing happened to me last year. Jumped about $350 a month!!! Really pissed me off. Luckily, it'll be going back down about $250 in a couple of months once the escrow catches up to where it should be. But still...I hate that shit.

I'm looking to move soon, so I'm going to do a lot more research on taxes before I pick a place.

AmentsChick

AllNiteThing wrote:

Same thing happened to me last year. Jumped about $350 a month!!! Really pissed me off. Luckily, it'll be going back down about $250 in a couple of months once the escrow catches up to where it should be. But still...I hate that shit.

I'm looking to move soon, so I'm going to do a lot more research on taxes before I pick a place.

Woah...you're like...a grown up...talking about mortgages and escrows and stuff! COOL!

given2fly78

ahhhh, New York State! The tax rip-off of the USA! Aren't the taxes amazing? Our home got re-assessed also, taxes went up from $2200/year to about $4000 on a home assessed at $109,000 it's just unbelieveable. Almost makes it unaffordable to own. I do mortgages too, and taxes can make or break qualifiying for a customer. Or their comfort zone in a payment. My escrow is now more than my principal and interest. Oh well, it is what it is!

Pacomc79

I might ask what the return is for that huge of an investment?

WhiteMaleRat

pretty much everything doubles every 12 years or so....that seems like a big jump, but at least it will increase your federal tax return next year.

Smellyman2

Time to quit giving tax breaks to those cabbaging.