New York State Property Tax Essay

2184 words - 9 pages

The Property tax has been around for awhile now. People have had to pay a fee on their property every year. Some property owners seem to be punished and have to pay an unreasonable amount of money of their taxes. 1“The value of your real property reflects on your real property tax”(How the Property Tax Works. A publication of the State Board of Real Property services). This leaves taxpayers that own a good amount of property and have a nice house have to pay a chunk of their income on their taxes. 2“Counties, cities, towns, villages, school districts, and special districts each raise money through the real property tax. The money funds schools, pays for things like the police and fire department, maintains our roads, etc.” (The Property tax and its Administration, Arthur D. Lynn Jr.). These are all left tax exempt too, that isn’t fair they just eat our money.3“When the state determines the amount that you will pay for your property taxes they determine it through two things. One is the property’s taxable assessment and the tax rates of where the property is located. The tax rate is also determined by the amount of the tax levy to be raised from all, or part, of an assessing unit, and the units taxable”(Property taxation Land use and Public Policy, Arthur D. Lynn, Jr.). Some people own a lot of property that they need to make a living with but then get punished and have to pay an extraordinary amount of money on their taxes.

        Some of us feel that we should not have to be punished for how well our property that we own is maintained. People who don’t take care of their property as well as others pay less money on their taxes, if they both have the same amount of land.

        In some school districts people pay an outstanding amount of money on their property taxes. This is because the school is so expensive to maintain. Small schools seem to get more punished than larger schools. When a school gets a new addition it has an impact on the school districts property tax. The people have to pay for the schools projects. Schools sometimes invest millions of dollars into their schools and expect all the people to be able to afford it. Sure, the people who live down town and make up the majority of the vote don’t mind because they own a maximum of a few acres. But what about the people who own up to 300 acres? That’s a large property tax that they will have to pay. The farmers only make up about 25% of the vote. And the majority of them vote no to school projects when there are only around 1,500 people who live in the district. This is because they can not afford paying that much for property taxes.

        An assessor is the person who determines the properties assessed value. When they do this, they estimate your property’s market value and then they total the level of assessment to that market value. 4“When the assessor checks the market value of your land they are checking to see the price it would...

Find Another Essay On New York State Property tax

Texas, Utah and Tennessee Tax Systems

1327 words - 6 pages bracket. While Texas and Tennessee have a different system, which one sees it is more favorable for the citizens. According to the authors of the book Lone Star politics the property Tax in the state of Texas is lower compared to the other two states, but the local governments impose a significant local property tax. While the Texas constitution prohibit the charge of property taxes the cities, counties and local school districts burden for

The Case for Introducing a Property Tax, Collected at Local Government Level

2233 words - 9 pages lead to a situation where only national politics is discussed in The Dáil, and move away from situations where people are elected solely on the basis of what they promise to do for their constituents. This would lead to a more efficient and focused national parliament. Economic Beyond the simple economic rationale of a new tax bringing in new revenues, the introduction of a property tax may have positive indirect effects on economic activity

Comparing Progressive and Regressive Taxes

908 words - 4 pages progressive and some are regressive such as property or real estate taxes. The property tax is based on the value of the property, and it is a regressive tax (Combs, 2010). Most of the revenue from this tax is used toward education in the state of Texas, and it is collected annually. Residential and Commercial properties are taxed. Second, there is the sales tax. In Texas, the state charges a sales tax of 6.25%, is also an example of regressive tax, for

Taxation System in Bhutan. Good or Bad?

1693 words - 7 pages expenditures: levied on receipts of income and expenditures such as corporation tax, income tax, expenditure tax, interest tax, and similar other taxes, if any, in force. b. Taxes on property and capital transactions: levied on specific forms of wealth and its transfers such as estate duty, wealth tax, house tax, land revenue and stamps and registration fees, etc. c. Taxes on commodities and services: levied on production, sale, purchase, transport

Tax system definition

1248 words - 5 pages New Zealand tax systemTax system definitionA tax system is a system that gains and assesses taxes legally by government. There are a variety of explanations regarding to its definition, purposes and functions. It is a "charge, especially a pecuniary burden which is imposed by authority", "A charge or burden laid upon persons or property for the support of a government", "A sum imposed or levied upon the members of a society to defray its

Tax Structure: Habitat For Humanity

1693 words - 7 pages , Wake County bases property tax rates on current market value not ability to pay ensuring equity in taxation. Services such as education, public safety, and libraries require money to run. This money comes primarily from property taxes. By providing tax breaks to Habitat for Humanity homeowners, they are not paying their fair share for the use of these services. The state budget cuts reduced funding to education; therefore, the county burden for


1096 words - 4 pages from the County Treasurer, and make one payment for all the local units. The county divides the revenue among the local units.State taxes are used to maintain state highways, to operate state police departments, and to run state governments. In New Jersey, taxpayers pay a flat rate on their state income taxes. Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming have no state income tax. Most other states have a high and low tax

Regulatory Takings Due to Historic Designations

1507 words - 6 pages definition and application as a regulatory taking when a property is burdened with historical designation. The Need for the Amendment The law needs to be transparent because it has the potential to unreasonably burden the private owner of a historical building. There have been multiple cases in various states for which the results are unfavorable to the property owner. The most notorious case is Penn Central v. New York City. The U.S. Supreme Court

Flat Tax

2954 words - 12 pages their attendant difficulties, even if they are AAA-rated? It would be much easier to buy a Treasury bond with a similar yield. Like in-state municipals, most tax reform treasuries would still pay interest exempt from state and local taxation. Inevitably, municipals would have to offer richer yields than Uncle Sam. That means that issuers of new municipal bonds would have to pay higher interest rates too. Up would go the cost of public works. Local

An evaluation of property tax system in Malaysia

1663 words - 7 pages (Lewis, 2003). Property tax is an ad valorem levy on the value of property which the owner is required to pay. In Malaysia, the assessment rates are charged according to the provision of Local Government Act 1976. This provision empowers the local authority to collect assessment rates according to the area of jurisdiction. The property tax is based on market value for the state of Johor and annual value for the rest of states in Malaysia

Taxation of Foreign Corporations

2268 words - 9 pages those hundreds of millions of dollars’ worth of revenue away from state that have high income taxes back do Delaware where they are exempt (Simpson). Limited is not alone in pursuing this sort of exemption. In 1991 Wal-Mart set up a holding company of its own, WMR Inc. in Delaware (Walmart Watch). In 2006 however, the New Mexico Taxation and Revenue Department upheld an $11.6 million corporate income tax assessment against Wal-Mart for its use of

Similar Essays

The New York State Safe Act

1786 words - 7 pages New York State Safe Act Have you ever shot a firearm before? If you have… don't you hate it when you hear that click-click noise when the firearm is empty! Now with the New York state safe act of the seven round clips law you will hear the noise a lot sooner than before. The seven round clips should be unconstitutional that New York State is putting into law. I don't think we should be regulated on the number of rounds we can put in a clip

Striped Bass Of New York State

917 words - 4 pages The striped bass (Morone saxatilis), also known as the striper or rockfish, can be identified essentially by the darkish horizontal bands across its silver body. Striped bass can grow to over four feet long (122 centimeters), weigh over fifty pounds (23 kilograms) and live up to thirty years. The New York State record for a striped bass is a 76 pound fish (34 kilograms) caught off the coast of Montauk in 1981. The biggest striped bass on record

New York State Offers Something For Everyone Who Visits

994 words - 4 pages As the third most populous state in the United States, the State of New York offers some of the most interesting attractions and some of the most majestic scenery to be found anywhere in the country. From the Statue of Liberty in the harbor of New York City to the Adirondack Mountains in the upper part of the state, there is something that every person who visits the state is sure to enjoy. Historical Attractions of New York State Home to

Municipal Budgeting And Revenue Essay

2493 words - 10 pages tax revenues away from cities to assist in financing its financial obligation to fund schools under Proposition 98. Since Proposition 13 was in place, cities could not increase property tax rates to help subsidize this lost revenue. California’s renewed economy is evident with the new sales tax decrease; however, cities still have not been given back the property tax revenues that were shifted to the state eight years ago. Property tax is