Buying a house in Dutchess County NY - Tell me about the taxes - Part 4
One question I often hear from someone looking to buy a house in Dutchess County is; How are the taxes?
Many of those asking are coming from counties to the south with much higher tax rates, and sometimes their reason for relocation is to find tax relief. Even for those already living in Dutchess County the question will come up because the tax rates vary from town to town.
For starters, here are some of the taxes you will encounter:
- School taxes
- Village taxes
- City Taxes
- Town/County taxes
The Dutchess County department of Real Property Tax does provide some useful resources such as:
Tax rates for each town city or village
A tax estimator - This will help you estimate how much taxes you will pay. All you have to do is supply location and price of property.
Another good source for tax information is the Assessor's office,and you can find one in each municipality.
Most of the taxes paid will be school taxes, and this has much to do with the size of the school budget. New York State does provide some school tax relief in the form of the STAR program. If you purchase a primary resident you can apply for this. In most town each year the deadline for the STAR application is March 1st. Seniors can apply for the enhanced STAR which will provide even more deduction.
Tax relief is also possibe if:
- You are a Veteran
- You have Some Disabilities
- You are a Volunteer Fireman
- And more
The key is to check with the Assessor's office; since rules varies from town to town.
Another tax you might encounter is the two percent transfer tax this is assessed on real estate sales which is more than the median sale in the county. The median priced is derived from the previous year sales data.
This information should give you a sense of what to expect and where to find tax resources in Dutchess County
Buying a house in Dutchess County NY - Do you need Privacy? Part 3
Buying a house in Dutchess County NY - Where will you work? Part 2
Buying a house in Dutchess County - What you should know -Part 1
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JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com and www.jfivehomes.com
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Jennifer, Our taxes sound very similar although we don't have the Village tax but we have the MUD (manciple utility district) that I'm sure makes up for it. I'm not sure what your 2% transfer tax is?