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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Adding an upstairs bedroom/bath and tax increases
I live in a 2 story house. The past owners added on a great room on the 1st floor but didnt extend the upstairs. I have 3 bedrooms but they are smaller than I would like and DH and I are thinking about whether or not it would be worth it to add on a master bedroom & bath upstairs over the existing 1st floor extension.
One, I am concerned about how much our taxes will go up. If you have done something like this, what was the tax increase? Plus, I know if we do something like this and put $$$ into the house like this, we have to stay here. I love my house I just wish we had bigger bedrooms. At the same time, the thought of moving and going through the stress of selling and buying another house $ucks 
Message edited 12/14/2007 12:38:33 PM.
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Posted 12/14/07 12:58 AM  |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Adding an addition and tax increases
No advice for you (at least for several months). We're doing something similar next year. I'd also like to hear how other people's taxes increased. Is it directly proportional to the extra square footage? We're almost doubling our sf, so will our taxes almost double, or not quite that bad?
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| Posted 12/14/07 7:35 AM |
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: Adding an addition and tax increases
I'd also like this information.
Can you get an estimate of the increase before the renovations?
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| Posted 12/14/07 8:35 AM |
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pugmama
April already?
Member since 3/06 5297 total posts
Name:
Erica
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Re: Adding an addition and tax increases
If you have architectural plans you can take them to your down and they will be able to tell you whether they're will be an increase or not. If you are building over an already completed extension it shouldnt be much of a tax increase.
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| Posted 12/14/07 10:07 AM |
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MommaG
Yay Spring!
Member since 5/05 5133 total posts
Name:
Gloria
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Re: Adding an addition and tax increases
We supplied a request to our town - you outline what your plans are and they send you a tax increase estimate. Your taxes don't go up until you close out your permit and get your COs. In my town, you can spread out your tax increase over seven years (not sure of the percentages, but the first year they go up 30%, then 50% the second year and so on) so you don't get hit with a big increase all at once.
We added about 900 sq ft, including two bathrooms, and the estimate was an increase of about $1500 in taxes.
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| Posted 12/14/07 10:39 AM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: Adding an addition and tax increases
We added about 900 sq ft, including two bathrooms, and the estimate was an increase of about $1500 in taxes.
Was that a 1st fl. or 2nd fl. extension?
I was under the impression that your taxes increase more when you add sq. footage to your house (on the 1st floor...taking up space in your yard). I am sure if you add a 2nd fl. extension your taxes increase b/c the value of your house increases but upstairs you are not adding sq. footage to your house...do I have that right?
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| Posted 12/14/07 12:37 PM |
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Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
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Re: Adding an upstairs bedroom/bath and tax increases
we added a bathroom upstairs. It was a huge closet. We havent claimed it yet, so I dont know how much more $$$ the taxes will be.
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| Posted 12/14/07 1:04 PM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: Adding an upstairs bedroom/bath and tax increases
Posted by jellybean1420
We added about 900 sq ft, including two bathrooms, and the estimate was an increase of about $1500 in taxes.
Was that a 1st fl. or 2nd fl. extension?
I was under the impression that your taxes increase more when you add sq. footage to your house (on the 1st floor...taking up space in your yard). I am sure if you add a 2nd fl. extension your taxes increase b/c the value of your house increases but upstairs you are not adding sq. footage to your house...do I have that right?
yes - you are correct, as far as I understand it. As long as you don't change the footprint of the house (ie: pour foundation to add the sf) your taxes will not increase as much.
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| Posted 12/14/07 1:20 PM |
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FranM
And so it goes....
Member since 9/05 2217 total posts
Name:
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Re: Adding an upstairs bedroom/bath and tax increases
One of my neighbors added a second story consisting of 3 bedrroms and 1 bath. Her taxes went up about 60%. We are in Wantagh.
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| Posted 12/15/07 7:41 AM |
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MommaG
Yay Spring!
Member since 5/05 5133 total posts
Name:
Gloria
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Re: Adding an upstairs bedroom/bath and tax increases
Posted by jellybean1420
We added about 900 sq ft, including two bathrooms, and the estimate was an increase of about $1500 in taxes.
Was that a 1st fl. or 2nd fl. extension?
I was under the impression that your taxes increase more when you add sq. footage to your house (on the 1st floor...taking up space in your yard). I am sure if you add a 2nd fl. extension your taxes increase b/c the value of your house increases but upstairs you are not adding sq. footage to your house...do I have that right?
It was a second floor addition - we did not change the footprint at all. But square footage has nothing to do with the footprint - it's just the actual floorspace. But if the footprint is changed, the taxes will usually be higher. A lot depends upon the town - we can only have a certain percentage of square footage (which includes sheds, garages, porches, etc) in relation to the size of our lot. If you go over, you need a variance. In my brother's town, no variance is needed as long as you don't change the footprint.
Your best bet is to check with your town and get an estimate from them.
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| Posted 12/15/07 3:08 PM |
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