Archive for September, 2010
echo1181 asked:
After a new construction is built, when does one see the 421a tax abatement? or what is the timeline/process of getting it. Do you have to wait for all the units to close before getting the abatement from the city.
After a new construction is built, when does one see the 421a tax abatement? or what is the timeline/process of getting it. Do you have to wait for all the units to close before getting the abatement from the city.
The best of my understanding the abatement is 100% for the 2 years after constuction. But based on the tax bill for the first year, it doesn’t seem like the abatement was taken off. Are we suppose to wait for a credit on the tax bill going forward? I want to make sure that I am not paying for nonresidential unit’s real estate tax because management is being lazy not to do the proper calculations. Currently the bill is 4x what it should be and this is the 1st year in operation. Hopefully they place all the paperwork in to get the 421a abatement and it is just lagging. 4x the bill is small now but as the waiver decrease the tax will go up significantly.
Thanks
location nyc
Louie Doutt
Tim D asked:
I have a question about deducting real estate taxes based on information in my HUD-1 Settlement Statement, for a home I bought in September last year. Is there a website or a toll-free number I can call, to ask my questions for free? No offense, but I don’t want to rely on specific advice I receive on Yahoo, because I doubt that would hold up in an audit. I just need a referral to a reliable, trustworthy source of assistance.
Carey Skweres
I have a question about deducting real estate taxes based on information in my HUD-1 Settlement Statement, for a home I bought in September last year. Is there a website or a toll-free number I can call, to ask my questions for free? No offense, but I don’t want to rely on specific advice I receive on Yahoo, because I doubt that would hold up in an audit. I just need a referral to a reliable, trustworthy source of assistance.
Carey Skweres
castzpg asked:
I am very busy and I have never used Excel before. I was wondering if anyone felt like making me a spreadsheet and emailing it to me. I need info on it like Dr’s names, mileage rd trip to the doctor, pharmacy, rd trip mileage and cost of both plus real estate taxes on 2 different residences as well as mortgage interest. Anyone up for it? I’d appreciate it.
Torri Cronoble
I am very busy and I have never used Excel before. I was wondering if anyone felt like making me a spreadsheet and emailing it to me. I need info on it like Dr’s names, mileage rd trip to the doctor, pharmacy, rd trip mileage and cost of both plus real estate taxes on 2 different residences as well as mortgage interest. Anyone up for it? I’d appreciate it.
Torri Cronoble
Sweet n Sour asked:
There’s a 3.8% tax everyone who sells a home valued at $250,000 or higher must pay, even if it’s their primary residence and they use the money to pay off their mortgage or as a downpayment to buy another house. The money will be used to pay for one of the 9 new health care bureaus.
Last I heard, the high school drop outs at the bureau don’t save lives.
Liza Lomax
There’s a 3.8% tax everyone who sells a home valued at $250,000 or higher must pay, even if it’s their primary residence and they use the money to pay off their mortgage or as a downpayment to buy another house. The money will be used to pay for one of the 9 new health care bureaus.
Last I heard, the high school drop outs at the bureau don’t save lives.
Liza Lomax























