Buying one of these houses is a virtual guarantee that the new owner WILL be underwater FAST.
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
Funny, but the folks from NYC never talk about the taxes. They do however, tell folks to stay away because of the crime and poor living conditions. They say that the drug problem is worse in schenectady then in nyc. These nyc folks know that the thruway is the drug connection between nyc and schenectady. They also say that many folks actually live in nyc but come to schenectadyfor their welfare benefits.........and WHY?............because of the weak police force and no oversight.
Any decent, upstanding, hardworking family with children will NOT move to schenectady......no matter where they are from!! And the schenectady leaders want it that way. Right now the dems are in power because 60% of the city are on the 'created' dumbed down welfare system. The leaders speak with 'fork tongue'. Intelligent, hardworking folks would vote their a$$es OUT!!! They MUST keep poverty to over 50% in order to stay in power!!
So don't believe the bullcrap that comes out of their mouths!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
First they have to find a City Department head that actually lives in the City. The City Engineer did and then retired. The only new applicant refuses to move in from Castleton. How bad is it? The City assessor won't move into the City. The resale prices in the City are in free fall and no new construction. On top of the sick DEM taxes you have to pay private tuition to the Catholic/Brown School. Dorwaldt Blvd is one of the nicest blocks in the City. If the house was on the Niskayuna side the price would be 3X higher. Keep the implosion going!
The DEMS have more half baked ideas to do everything expect lower sickening taxes. Nothing else will work. No wonder there are 800 abandoned City properties and people are turning property into the City to expand nature preserves.
then Rome burned
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
We'll be sure to keep track of these houses. We'll know if they sell, how long it takes, and the sale price.
Those of us on these boards who are intelligent, we know the actual sale prices WILL be lower, if and when the houes sell.
All city homeonwers should take a look at this thread on these boards. As we are providing the FACTS (unlike DV's lies), the homeonwers would learn that they have been way over-assessed by the city. And they should flood the city with grievances this year
Actually, it's time for the city to reassess the WHOLE CITY !!!!!!!!!!!!!!! Reassess DOWN! BIG TIME REDUCTIONS
However, even though it is an absolute NECESSITY that the city reassess ALL RESIDENTIAL properties DOWNWARD, one fact remains. The tax BILLS will STILL remain high.
Do the math using this little explanation.
In a city there are 14 properties 2 properties are assessed for $20,000 each 12 properties are assessed at $8,000 each Total assessed value in the city is $136,000
Follow that so far?
The two properties that are assessed for $20,000 each have been granted 100% tax exemptions from the dem leaders in this city The other 12 properties are houses and fully taxable. The total TAXABLE VALUE in this city is $96,000 (the total value of all the TAXABLE properties, i.e., 12 taxable properties x $8,000 assessment each = $96,000)
When the city does it's budget, it sees that it needs to raise $35,000 via property taxes, this is called the tax LEVY. While the total assessed value of all properties is $136,000, remember, the dems exempted their millionaire & politically connected buddies, thus the two properties asssessed at $20,000 each are not subtracted in order to get the total TAXABLE value
$136,000 Total assessed value of ALL properties - 40,000MINUS the total assessed value of tax exempt properties $ 96,000 Total TAXABLE assessed value.
Follow that so far?
Now the city needs to determine the tax RATE, which is determined with the following Tax LEVY / total TAXABLE value = tax RATE Thus: $35,000 / $96,000 = 0.364583
So now we calculate the tax BILLS Tax BILLS are determined/calculated using: Assessed value x tax RATE = Tax BILL
Thus, $8,000 x 0.364583 = $2916.67 (rounded. Very specifically the math makes it $2,916.667)
Still following that?
Now, you can check the math. There are 12 properties that pay taxes, remember, the other two have been granted 100% tax exemptions by the dems. To make things easy for explanation purposes, I made all 12 houses have the same assessed value, i.e., $8,000 each. So that means each of those 12 properties has a tax BILL of $2,916.67 The city collects $2,916.67 from each of those 12 properties and the math, therefore, is $2,916.67 x 12 = $35,000 (give or take a couple pennies for rounding). The city collects a total of $35,000 from these 12 taxable properties.
You follow that, right?
Because of the high taxes and the 12 properties having to cover the taxes of those two exempt proerties, the property values plummet in this city. So, let's say the property values went down by 30% each (again, just to make the example easy.
If the property values went down by 30% and the city reassesssed, then the new assessment for these 12 houses would be $5,600.
Remember, those other two properties, regardless of the value, are tax exempt courtesy of the dems, so their value, whether up or down, does NOT factor into the mathematical equations to come up with the 1) total TAXABLE VALUE in this city, nor 2) the tax RATE, nor the tax BILLS.
Even without any increase in the budget, without any increae in the tax LEVY i.e., the tax LEVY stays the same at $35,000, see what happens. 12 TAXABLE properties at $5,600 each means a total TAXABLE value of $67,200 So now, the city needs to determine the tax RATE for the coming year. Once again, the math. Tax LEVY / Total TAXABLE VALUE = tax RATE $35,000 x $67,200 = 0.520833
Now to determine the tax BILLS resulting from the SAME LEVY but 30% assessment reduction
$5,600 x 0.520833 = $2,916.67
You follow that, right?
You see what happens, right? Property values go DOWN, and the tax BILLS stay the same!!!!!!!!!!!!! That's assuming the city budget results in no increase in the tax LEVY But of course, we know the tax LEVY always goes up. While the state came up with this thing about the so called "2% property tax cap" that really is defined as "2% tax LEVY cap" When properties receive these tax exemptions, like Schenectady has done with most of downtown, the tax LEVY could increase, say, one percent (1%) but the tax BILLS will increase MORE THAN 2%. I could go into more detail and provide an exemple but I'm not going to take that time
However, assuming you follow all of the above...
I'm going to provide one additional piece of information. Go back to the original assessments. IF the two exempt properties had their exemptions removed, then the total TAXABLE VALUE would be $136,000 Then the tax RATE would be as follows: (Reminder Tax LEVY / Total TAXABLE value = tax RATE) $35,000 / $136,000 = 0.257353 So, the homeowners, with their houses assessed for $8,000 each, what would their tax BILL be?
Assessed value x tax RATE = tax BILL $8,000 x 0.257353 = $2,058.82
IF the exemeptions were movedd from those two tax exempt properties, then the financially strugging homeowner would, in this example, have a tax BILL that would be LOWER, the homeonwers would SAVE $857.85 !!!!!!!!!!
And you can check the math to make sure the city does indeed collect the full tax levy. The two (previously exempt) properties assessed for $20,000 would have a tax bill ($20,000 x 0.257353) of $5,147.06 each (remember, these two represent the downtown millionaires and politically connected who CAN AFFORD to pay their FULL property tax BILLS, they do NOT NEED, and should NOT RECEIVE tax exemptions OF ANY KIND WHATSOEVER !!!!
12 houses with tax bills of $2,58.82 each totals = $24,705.88 2 properties with tax bills of $5,147.06 each totals = $10,294.12
$24,705.88 + $10,294.12 = $35,000. The city receives the $35,000 in property tax revenue---the tax LEVY)--- that it needs, AND the financially struggling homeonwers see a reduction in their tax burden!
You follow all that, right? (Well, DV is now scratching his head trying to figure this out; in a few months time when he can figure out the grade school arithmetic, DV will say "no no, that can't be true" ROFL)
The UNDENIABLE TRUTH, the WHOLE TRUTH, and NOTHING BUT THE TRUTH is that as long as the dem team (city + plex + county) insist on giving out those 100% tax exemptions to downtown, then the homeonwers are screwed!!!!
So first, the city dems MUST REMOVE ALL tax exemptions from downtown INCLUDING Proctors--- because Proctor's IS 100% A FOR PROFIT BUSINESS.
And next, the city dems MUST STOP spending money on expensive cars which the high paid cops use to take their pleasure drives home far away out of the city, out of the county. And next, the city dems MUST MANDATE that ALL department heads, cops, and fire employees move INTO the city, not just future employees but CURRENT employees. I would like to see ALL employees live within the city boundaries, but I'm not quite as concerned with the lower level staff, clerical, laborers, garbage pickers, and the like because they do not have any influence really. But other staff, e.g., accountants, planners, engineers, code enforcers, asessors, human resource, etc MUST be mandated to live in the city And next, ALL business owners WITHIN the city that get money from the taxpayers, i.e., via Metroplex projects, MUST LIVE WITHIN the city.
These are some starting ideas
That is the whole truth and nothing but the truth. To make the whole thing even more confusing the state equalization rate makes the home values appear to go down, fooling the owners into thinking their assessment is lower.
Life is tough, but it's tougher when you're stupid - John Wayne
TIP TO NEW VISITORS TO THIS FORUM - To improve your blogging pleasure it is recommended to ignore (Through editing your prefere) the posts of the following bloggers - DemocraticVoiceofReason, Scotsgod08 and Smoking Bananas. They continually go off topic, do not provide facts and make irrational remarks. If you do not believe me, this can be proven by their reputation scores or by a sampling of their posts.
health insurance will certainly be a key compnent for all future contracts. it is very expensive mvp plan is between 15k to 20k. And it continues to go up pretty much every year.
and realistically the contracts preclude mandating all employees from moving back into the city so. more realistic option would be to estimate how much property ax is lost due to employees not owning city homes and trying to negotiate back those amounts thru reductions in other benefits.
In ref. to the not having to live in the city clause: Can you inform this board why the police contract ever instituted such a clause? Was it a demand by the union and if so why did the city go along with it, while requiring other city employees to live here (albeit it does not seem to be enforced much). And also what was the reason the union needed this exemption? Would'nt it save $$$/commute time for an employee if they lived here? Not only that but I'm sure many neighborhoods would feel a little bit more secure that there was an officer in their midst. One whose presence may stiffle at times, some undesirable elements of crime. At least it could'nt hurt to have their presence known if in fact they lived here. The "word" may get out to the undesirables to watch out. The officer could maybe even partake in the neighborhood watch/activities of his/her neighborhood. This reaching out to the neighbors would show a real community interest on the part of the officer, and the returns in PR would be priceless. This could really elevate the positive view of the police, and reduce it's negative image held by many. If in fact most of the officers are fine/upstanding officers then their presence by living in the city would even be more welcome. With a theoretical reduction in crime based on their presence, this might even lessen their work load. That's something I'm sure we could all agree on would be a good thing. A win-win for ALL, in it's purest form
Thanks MC1 for a most interesting mathmatic equation. In a manner of speaking this theory could also be applied to our utility bills. The utility co. need to make X amount of dollars. In fact they guestimate a figure for it's yearly intake of monies. If, like this winter, the heating season is riddled with above average temps., the income logically will be less, and the profit. So where does this make up come from? A request to the commission for a rate increase. So even though we used less we will eventually be charged more for what should be financial relief. Same goes for if we all conserved, and chilled a little more, and used less there income/profit takes a hit. And with fixed expenses such as salary, pensions, operating expenses (trucks, supplies, gasoline etc.), it would stand to reason that rates would only go UP with conservation, unless the pool of users is expanded. Unless there were layoffs to occur to make up the loss of profit. The stockholders must be satisfies as well. Only a theory.
Not sure what was on the table at the time of those negotiations; however, I am sure there was something that were higher priorities by the City. For example, unlimited sick leave (which was really not unlimited but was correlated with the use of more sick leave than the present system.
One of the other high priorities at the time was compensatory time. Years ago, when crime was a much less serious problem in the City, the city wanted to keep salaries lower and limit other benefits, so they allowed an incredibly liberal use of compensatory time. as the need for more officers evolved they had to negotiate to reduce that benefit.
one thing police and fire have that the other unions don't is interest arbitration, put in place to keep maangement from taking advantage of the inability of public safety employees to strike. It's a problem, at least in its' present form. One possible remedy would be to have interest arbitration for a limited category of benefits. For example, have a base contract, allow the officers to receive cost of living raises, and if the city could not afford those raises, have a PERMANENT, arbitration board decide these matters - not the system you have now where arbitrtaors are concerned about burning bridges between either side so they will continue to get chosen for future arbitration efforts.
RE: the benefits of living in the City, you raise some very solid points. There are some dowsides to that, as well. For example, an officer's children in the same school system and having to arrest, ticket, or otherwise sanction their fellow classmates parents.
Many of us went to school with police officers kids and it was never a problem. Yes there were times when the officers questioned us about our activities but again there wasn't the drug problem that there is today.
Many of us went to school with police officers kids and it was never a problem. Yes there were times when the officers questioned us about our activities but again there wasn't the drug problem that there is today.
yep........back in the day I had classmates and teammates whose Dad's were Rotterdam cops.........no problems............different era though
The cops won't live here because they know what it's truly like. The see it everyday and they know first hand that living in a war zone isn't for them or their families.
The teachers know what it's like in their dilapidated school system. They also don't live in the City and make sure THEIR children attend a better school system elsewhere.
The only two classes of people who come to Schenectady are those who get free money: the welfare receipents and the downtown businessowners. Both of which rob the taxpayers, create blight and could care less about safety or a good school system. Both are the bottomfeeders.
Would you care to provide your definition of renaissance? You ALWAYS avoid answering the question
Is it a renaissance when property values plummet big time in Schenectady while rising outside of the city? Is there a renaissance in the city when homeonwers lose their homes to tax foreclosure because they have to pay almost the highest propery taxes in the whole country? Is it s a renaissance when houses listed for sale do not sell after almost two years on the market? Is it a renaissance when the employees of the city refuse to live in the city?
Well?
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
I needed to make a small correction. The intelligent people on here will have read it correctly dispite a little mistake. But you know, those cheerleaders for increasing taxes to pay for downtown, they wouldn't get it.
Correction in red
Quoted Text
Assessed value x tax RATE = tax BILL $8,000 x 0.257353 = $2,058.82
IF the exemeptions were moveddremoved from those two tax exempt properties, then the financially strugging homeowner would, in this example, have a tax BILL that would be LOWER, the homeonwers would SAVE $857.85 !!!!!!!!!!
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
Logged
First they have to find a City Department head that actually lives in the City. The City Engineer did and then retired. The only new applicant refuses to move in from Castleton. How bad is it? The City assessor won't move into the City. The resale prices in the City are in free fall and no new construction. On top of the sick DEM taxes you have to pay private tuition to the Catholic/Brown School. Dorwaldt Blvd is one of the nicest blocks in the City. If the house was on the Niskayuna side the price would be 3X higher. Keep the implosion going! 
