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Money and Finances
Reply to "Can We Afford a $1.5MM Second Home?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Do it! Remember your taxes will be really high though since you aren't residents. [/quote] Really? Why? We have a friend in that building, also a non-resident, and his property taxes are very reasonable. We are NY State residents, so we know all about high taxes. Florida is refreshing in contrast to NYS. [/quote] Florida property taxes are EXTREMELY HIGH (because they don't have income tax in Florida). We own a 3 bed ocean front condo that is worth about $300k. Our taxes are about $6k per year. I have no idea what they are in NY, but compared to DC that's insane (e.g. we pay $2k for a house worth about $800k. Though it's assessed at more like $300k)[/quote] $300k in NYS would probably be a minimum of $10k in taxes. Throw another 8% sales tax on top of that and we are taxed to death. [/quote]
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