$8,000 Tax Credit The following questions and answers provide basic information about the tax credit for new homeowners. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation. The following questions and answers provide basic information about the tax credit. If you [...]
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Taxes
PMI stands for Private Mortgage Insurance. When someone takes out a mortgage for more than 80% of the home’s value an additional premium, or penalty depending on how you look at it, must be paid to protect the lenders against default. (a contributing factor why banks would rather foreclose than modify a loan–buyers were paying [...]
According to the a recent NY Times article, the reason property taxes are so high in this area (Westchester and neighboring counties), besides the political strong-hold of local unions, is because, for one, property values are higher than in the rest of the country. Westchester County median sale price is about $530,000 while the national [...]
Once again Westchester County has once again gained the dubious distinction of being the county with the highest property taxes ($8,890) in the country for the second year in a row, according to the Census Bureau. I’m not sure that’s the recognition the county was actually going after. What I want to know is why? [...]
If you own a home in Westchester County or any part of the country chances are you feel your property taxes are too high. In Westchester County, for example, this could not be more true. While property values were skyrocketing, most buyers and homeowners did not complain to their town about increasing taxes. Everyone was [...]
Last week I wrote an article on grieving your property taxes and today I wanted to continuing on the same topic. I was recently speaking to an attorney who also grieves taxes for his clients (and by no means should you consider this post as legal advice–consult your own attorney for that). He mentioned to [...]
A while back I wrote on Closing on a house in Westchester County. After reading it I realized that I should take the process to its infancy. I should take it to the point where you’re actually deciding to buy a home. Therefore, I updated the previous article to be less assumptive and more detailed. [...]
