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land preservation tax for suffokl
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Mrs213
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Member since 2/09 18986 total posts
Name:
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land preservation tax for suffokl
my dad said that in suffolk if you buy a home there is a 2% tax you have to pay for the land preservation but he think it may just be for the east end. Any one know about this?
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Posted 3/31/10 9:43 PM  |
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JustJack
:)
Member since 2/06 2041 total posts
Name:
J
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Re: land preservation tax for suffokl
It is just for the east end, the Peconic tax I think it is called?....
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| Posted 3/31/10 10:16 PM |
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DaisyGirl
LIF Adult
Member since 2/08 1650 total posts
Name:
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Re: land preservation tax for suffokl
Yup it's the Peconic Tax and you have to pay it at closing. I think it's Riverhead town and east.
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| Posted 3/31/10 10:45 PM |
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Re: land preservation tax for suffokl
It is in the following townships:
Southampton
East Hampton
Shelter Island
Riverhead
Southold
The tax is 2% on anything over $250,000 (I believe it is $200,000 in Riverhead/Southold) for property with a house, and $150,000 for land.
It goes into the Peconic Land Preservation Fund.
So, if you buy a house that is $400,000, you are only payin 2% of $150,000...
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| Posted 4/1/10 1:54 PM |
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