3/17 - Higher taxes

In the 3/16 edition of Newsday, it was reported how taxes are on the increase for homeowners.  Only a few short months ago Newsday reported that property taxes were on the increase with some areas seeing a 30% increase.

As I wrote about in an earlier edition of this blog, our LiPA bill is starting to increase since Sandy hit.  I am certain that it will go up even higher.

The school budget vote that is due in a few months will only add to the increase in our taxes.

With these insane increases more and more people will have no choice but to leave Long Island.  I am ready right now and would do so if I can be assured of an income.  Looking at the real estate prices I find more and more short sales and REO's than ever before giving testimony in how bad thing are here on this sand bar.  But the government does not care and is forcing people to seek more economic areas out of New York with the tax increases.

But at the same time I still see homes for sale in my area that only a millionaire can afford.  There are three new McMansions a block away from me with one of them that sold for $1.2 mil.  Down the street are three more that sold very quickly for $900k.  And mind you, none of these have any yards.  It is just a building only.

Are the owners over extending themselves?  A these going to wind up in foreclosure soon?  But this seems to be the trend here on Long Island, build a McMansion where ever you can.


With the way that costs are going up and jobs are disappearing, who can afford these?  Really.  Not me.

'Till next time.