Demand on municipal resources, such as garbage removal, roadway repair, and rescue services, go up exponentially, while the bucolic nature of our home properties suffer irreversible harm.
Demand on municipal resources, such as garbage removal, roadway repair, and rescue services, go up exponentially, while the bucolic nature of our home properties suffer irreversible harm.
One response to “Taxes Go Higher / Home Values Lower”
AIR RIGHTS: ERCSD should demand that the Town of Ramapo Re-Assess ALL Property based on Highest and Best USE. For Example a 1 acre tract of land with a 3,000sf house is assessed at $56,000 and a Market value of $466,000 with taxes of $6,000. A Developer comes in and purchases land and building to develop a 10,000s.f 4 family “rental” unit. How much is the development worth? How much should the development be assessed? How much should it be taxed? Easy, its an Income producing property. Value will be bsed on the Income approach to value. Say RENT per mo. per family=$1,500/mo x 4 = $6,000 per mo. or $72,000 per year. Property will be valued @ $1,600,000. Assessed @ $208,000. Taxed @ $21,632. East Ramapo csd wins. The town of Ramapo wins. Rockland County wins. The Developer “PAYS HIS FAIR SHRE” in Taxes and he wins. EVERYBODY WINS! A New Year. A New Board !