When home buyers think of Warwick, NY, they often think of the things the area is best known for - tranquil forests, fresh farm stands, and beautiful, large homes in pastoral settings surrounding this quaint, trendy upstate New York town. I can almost hear the music playing in the background! But Warwick is also known for...(pause for dramatic effect) TAXES!
Property taxes for many of Warwick's stunningly beautiful homes are also stunningly high. In 2007, Orange County, NY was ranked #25 in the highest property taxes in the U.S. by county. That's #25 out of 775 listed by the Tax Foundation. Westchester was #3 in the nation. Bergen County was #5 and Rockland County was ranked #7. That being said, there is still no comfort in being #25. And it hasn't changed much.
Why? One reason is Warwick's educational program. School expenses eat up a huge amount of tax revenue. According to Sperling's Best Places, Warwick public schools spend $20,797 per student per year. The average school expenditure in the U.S. is $12,435. There are about 15.3 students per teacher in Warwick. Great for the kids, but bad for homeowners faced with high taxes on their beautiful, large homes in pastoral settings. (To see how your county compares nationwide, click on this cool national map link.)
But we have a listing that is an absolute tax bargain compared to the taxes for similar properties around Warwick. The property for sale is at 92 Ryerson Road, just west and a little south of Warwick, and just a few minutes to the famous Warwick Drive In Theater. It is a historic home (part of the reason for its low taxes), once owned by homesteader J.H. Ryerson, and later by actor Richard Kiley (of Man of LaMancha fame). The current owners have very cleverly developed it with improvements that make it luxuriously livable, yet don't incur the wrath of the tax man.
They used reclaimed materials from the old carriage house to turn it into a studio with loft and full bathroom. There is also a rustic studio/guest house, which could be used as a professional office space. The history of the main house has been preserved, while the owners upgraded it to three full bathrooms, a gorgeous chefs kitchen, mud room/pantry, breakfast room, 2 master bedroom suites, and a family room with second floor laundry. The outdoors is equally beautiful, with gardens, pool and five acres of strollable nature. Suitable for any outdoor activities or horses.
Homes like this in Warwick usually come heavily under the tax assessor's axe. Five acre parcels with four bedroom, four bath homes cost dearly here, and taxes can range into the twenties. But this one is a virtual steal. Property taxes are a mere $12,500 a year. This includes Warwick's famous Community Preservation Fund assessment, a special tax paid by homeowners to support the non-development of agricultural land in the Warwick area.
Anyone for a tax break? Call us for more information, or stuff $875,000 in the mailbox with a note. We'll get back to you.
originally posted at http://www.wesellny.com/blog/A-Home-that-Beats-the-Tax-Man