My wife and I are working with a client who expressed interest in viewing and perhaps purchasing one of two properties
located in the upper State Street (Woodlawn) area.  The properties are listed with real estate in the price range between
$149,000 and $160,000.  We provided to our clients the listing information (provided by the selling agent) that showed the
taxes (property and school) to total ~$3500.  We performed some due diligence to find that the $3500 tax bill reflected
multiple exemptions (veterans, enhanced STAR, etc.).  The actual taxes without exemptions for each property were between
$9000 and $10000.  Needless to say, our clients are no longer interested in viewing the properties.

I heard a mortgage broker on the Paul Vandenburg show yesterday.  He said that people are not buying homes in Schenectady
County (he singled out the city and the Town of Niskayuna) because of the oppressive taxes.  He went on to say that in many
cases the taxes per month exceed the mortgage loan payment (principle and interest).  The above properties are a testament
to his statement.

I predict that property and school taxes in Schenectady County will increase by double digits in the next budget cycle.  Something
must be done to reduce spending before property values decline further due to lack of demand.

So the selling agent misrepresented the facts.  Nice.

Well, not really MT.  The current owner, a widow, was paying ~$3500 / year.  

The point is that the taxes on a property valued in the range of $150K to $160K should NOT have taxes in
the $9K to $10K range.  That's $750 to $835 per month just in taxes.  What services do the city residents
get that have a value of $10,000 per year?

And the dolts "running" Schenectady government and schools want to raise taxes much more. The school refuses layoffs and is talking about a 28% increase. Nobody says anything-meanwhile Shen lays off 50 and Albany 110. Soon you want be able to give away any property anywhere in this County.

     Was talking to some friends in NC. Total taxes on a $500,000 mansion-$600 A YEAR. No county tax, no town tax --school only. And spare me the school quality argument-their school district is much better than any around here.

I heard of similar figures in SC and Florida as well benny.

Quoted from 78

Well, not really MT.  The current owner, a widow, was paying ~$3500 / year.  

The point is that the taxes on a property valued in the range of $150K to $160K should NOT have taxes in
the $9K to $10K range.  That's $750 to $835 per month just in taxes.  What services do the city residents
get that have a value of $10,000 per year?

Was the fact that the person (widow) paying the $3500 was receiving special deductions, listed on the form - or disclosed?  How would an ordinary person be able to determine that actual taxes on the property were 3x those represented by the seller - until the closing? What if my agent didn't do the same homework you did?  We've looked at a few houses, never imagined for one minute that what the listing agent put on paper was incorrect or misleading, but now I'd have to think twice, and I'd imagine most people reading this would.

Thankfully, you did your homework for your customer. It's unfortunate that the listing agent wasn't more forthright with the info.

But didn't anyone bother to tell these folks that for $10 G's/yr in taxes, they would be getting the best school system ever AND that one block of state street 'looks nice' AND there are jobs-a-plenty AND crime is almost nonexistent AND that our local government is resident & business friendly and love transparency AND welfare is also almost nonexistent AND that there are no drug dealers/addicts or prostitutes to be found AND the road are pristine during the winter?

Now just look what they would be getting for those taxes, huh?

good post