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Greg, property taxes may be lower, but the city levies an additional income tax on all residents that the suburbs do not. In most cases unless you are extremely poor, you break even at best.
Property Taxes in NYC appear to be much lower, I own in the Bronx.
Why don't more of these folks buy homes in the City.
Hello, Brian -
I love your show. I particularly love how Lt. Gov. Paterson has no clue about actual life on Long Island and in NY in general. I cite the following:
1) The S.T.A.R. program doesn't even refund 5% of TOTAL taxes paid, since, as one should notice that NO mention is made that the bulk of taxes are NOT property taxes. Rather, they are school taxes (for which there is no cap).
2) Science graduates of Stony Brook or Buffalo will ONLY stay in NY if there are companies for whom they could work - corporate flight must be reduced, but Albany will NEVER entertain reduction of taxes that actually matter. Further, entry-level salaries cover little more than gas money and rent for the typical graduate, given the enormous cost of living on LI - markedly better in Buffalo, but "fantasy land" on Long Island.
3) Capping property taxes WOULD work, provided local municipalities stop ridiculous practices such as a) paying sanitation workers for eight-hour work days, despite the fact that they can leave the moment they are done with their duties (on average, 2-3 hours). b) Letting janitors make $70-80,000/yr after 10-15 years in the job, rather than outsourcing them to tight bidding companies. c)Force police officer retirement after 18 years, rather than letting them stay on and continue to bilk the system out of millions of dollars.
Just about everytime I hear an opposition statement from Republican opponents on this show, they seem to only offer any other ideas on than Spitzer's as the only ones.
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