Oct

16

STAR Program For New York State

Filed Under Buyers, Sellers, Sellers & Buyers, Taxing Matters | Leave a Comment

The STAR program for New York state is one of those elements of Long Island real estate that talked about alot, but understood very little. Most people refer to the STAR program as a simple real estate property tax decrease. STAR is an acronym for School Tax Relief.

The STAR program application is completed by homeowners one time and provides an exemption from school taxes for non-owner occupied, primary residents. The deadline for filing is generally March 1st of each year, however it is best to check with your local tax assessor.

A great resource for information on the STAR program is http://www.orps.state.ny.us/star/index.cfm.


Apr

26

Taxes: The Real Issue

Filed Under Buyers, Sellers, Sellers & Buyers, Taxing Matters | Leave a Comment

I’m not going to quote any articles. I’m not going to quote any politicians. It’s plain and simple. We, as Long Islanders, citizens of New York and as Americans are taxed too much. When I hear a politician talk about “affordable housing” or some government program to “help people”, I cringe. I’m all for people being able to afford to live the American Dream, but what about a more simple approach to “solving” our problems?
Taxes. One word. It’s simple enough. And let’s put another word in front of that. Lower. Okay, so now let’s put them together - Lower Taxes. It’s amazing how no politician can seem to put these two words together to “solve” problems.
Compare these two words with another two words - Affordable Housing.
Lower Taxes. Affordable Housing.
One implies that people will work hard, earn money and pay less in taxes - but still do their share to pay taxes such as property taxes, income taxes (state and federal), sales taxes and every other kind of tax. Lower Taxes - implies that the government will actually MAKE DO with what they “earn” and not create another program such as “Affordable Housing”. Lower Taxes - implies, no actually puts more money in the pockets of hard-working people who then can take that money - save it, invest it, spend it - thus helping the economy - but more importantly - themselves, their families and ultimately - their community!
I don’t know about you - but for me - I don’t want “affordable housing”. To me, “affordable” anything, from the government - is simply another two-word combination - Government Handout.
Young people don’t want another Government Handout. Older people don’t want it. Really - no self-respecting, able-bodied person wants any kind of handout and for those that do - I hope you have a good reason for one - such as illness or another type of condition or serious and real circumstance that prohibits you from being able to care for yourself or family.
I am all for taxes being used to help those in need. That’s a must - but it’s got to be done with some kind of temperance. The word “temperance” is not in the vocabulary of a politician. The word means control. Clearly, these politicians, both locally and nationally, do not have any understanding of the word. Spend. Spend more. Spend even more. Oh and just raise taxes to pay for all government “solutions” (code word for spending).
Like any family - you’ve got a budget. You use some credit to pay for some things. You get a mortgage most likely to buy a home. You take out a loan to get a car so you can drive around. And you balance household expenses and related bills. You work and pay what you can and save or invest what you’ve got left over. Government - no. Government operates as if there is a complete unlimited amount of money to continue with spending, spending, spending.
Well it’s time we, the citizens, said “No!”
We don’t want more programs. We don’t need “Affordable Housing”. We need government to get off our backs, restrict their spending and “programs” and operate on a budget - come hell or highwater! Period!
At least that’s my opinion. What do you think?

(c) Copyright 2008, www.tommcgiveron.com

By Tom McGiveron

Feb

15

Long Island Real Estate Market: Priced Too High To Compete?

Filed Under Buyers, Sellers, Sellers & Buyers, Taxing Matters | Leave a Comment

If you were to think about the 50 states of America as 50 independent businesses, vying for buyers to purchase homes, become gainfully employed, open businesses, volunteer at local charity organizations, make families and contribute to the overall social and economic welfare of the state, one might consider Long Island as part of a declining company which is losing market share every quarter.

How? Well if we were to think of property taxation as the cost of goods (the goods being homes in the area), then we’ll see that Long Island Politicians are pricing us clear out of the market.

Think about this. If McDonald’s hamburgers cost .89 cents in West Babylon and cost $9.99 in Babylon, where are the customers going to buy their hamburger? So now let’s look at the market competition of two counties, one county in North Carolina and Suffolk County here on Long Island. In Mecklenberg County, North Carolina, the average annual taxes are about $1000. That’s not $1000 a month, that’s per year. Contrast this with Suffolk County where the average annual tax (for the sake of argument) exceeds $5000 annually, or over $400 a month.

Where is everyone going to move? Long Island or North Carolina? According to a study done by www.longislandindex.org, click here, Long Island homeowners rate the tax problem as very serious. Yet the politicians will not actually address this problem. They talk more about “affordable housing”, which translates to managing the free market and telling companies how much something can cost.

According to an article in the Suffolk Life, entitled, State Bill To Address Affordable Housing On LI, so many of the politicians talk about “creating” affordable housing. The entire article ultimately fails to address the issue - what about people who don’t want a government handout? What about the people who don’t want “affordable housing”? Take away the $1000 a month my friend pays for his taxes in Miller Place, and he and his family of four can live much better off than they currently are, struggling to pay the monthly tax bill.

I’ll be posting more on this topic along with contact information for my viewers to get in touch with their local and state government officials. We all need to come together and figure out the property tax mess we’ve become wrapped up in due to overspending and government mismanagement.

(c) Copyright 2008, www.tommcgiveron.com

By Tom McGiveron