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3monkies
Love my babies
Member since 10/09 1181 total posts
Name:
Sharon
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buying a house and the taxes
I might be purchasing my fathers house next year.
Would the taxes stay the same as what he will paying at that time we buy?
TIA
edited: bc i cant spell 
Message edited 1/25/2011 4:06:22 PM.
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Posted 1/25/11 4:05 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: buying a house and the taxes
yes- they will stay the same
minus any exemptions they have- like is your Dad a vet?
you will have to reapply for STAR
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| Posted 1/25/11 4:08 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: buying a house and the taxes
there's no way to say for sure...
he may have an additional star discount (senior, veteran, etc).
the house may or may not be assessed correctly. If its re-assessed, the taxes may go up (or down).
regardless of the above, taxes are likely to increase year after year.
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| Posted 1/25/11 4:09 PM |
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ODonnell
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Member since 9/05 5983 total posts
Name:
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Re: buying a house and the taxes
They should but factor in any increase for annual budgets in your town. As they say, the sure things in life are death and taxes.
Message edited 1/25/2011 4:10:56 PM.
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| Posted 1/25/11 4:10 PM |
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3monkies
Love my babies
Member since 10/09 1181 total posts
Name:
Sharon
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Re: buying a house and the taxes
thanks!!!
No hes not a vet, so he wouldn't have that discount.
What would be cause for a reassessment ??
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| Posted 1/25/11 4:14 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: buying a house and the taxes
Posted by 3monkies
What would be cause for a reassessment ??
it wouldn't be specific to your house, unless you grieve the taxes. But the counties update assessments every few years to try to keep up with changing market values.
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| Posted 1/25/11 4:17 PM |
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caps612
In love with my little guys!!
Member since 8/10 5108 total posts
Name:
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Re: buying a house and the taxes
Depending on his age, you might lose the ehanced Star, then they would go up!
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| Posted 1/25/11 4:20 PM |
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3monkies
Love my babies
Member since 10/09 1181 total posts
Name:
Sharon
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Re: buying a house and the taxes
Posted by -Lisa-
Posted by 3monkies
What would be cause for a reassessment ??
it wouldn't be specific to your house, unless you grieve the taxes. But the counties update assessments every few years to try to keep up with changing market values.
great, thank you!
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| Posted 1/25/11 4:21 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: buying a house and the taxes
also, if there were any additions made to the house that he didn't have a c/o for, he will need to apply for them before you can get a mortgage. At that time, the Town or County will raise your assessment.
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| Posted 1/25/11 7:32 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: buying a house and the taxes
mine went up 1 K in total bc they were seniors.
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| Posted 1/25/11 9:26 PM |
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