Manhattan Rental Price

Manhattan Sept Rental Price.
Select on the specific neighborhood, and type in the zip code you want to look at(or simply put "All" if you do not know the zip code)
Drag the range of median rental price as well as days on the market to narrow down the searching criteria.
Click on specific house to get more detail information.

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Manhattan New Development Houses - Sept, 2013

By Sept, 2013
There is very limited inventories for sales on the market, historically low.
People all expecting the yet come new development condos in Manhattan, above is a graph indicate the place of the currently under construction places.
Select on the Area, narrow down by neighborhood by your own will.
Click on the house icon on the map to see the street view, get knowledge about the surrounding neighborhood, facilities and public transportation.

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Understand The Property Tax

UNDERSTAND THE PROPERTY TAX

What Is Property Tax?
We are familiar with income tax rate, sales tax rate in different states, right, right, even including the tips rate after every meal,seems we are familiar with all these service charges, while,  how about the property tax?

It should be definitely related to the value of the house we are living in, but, how?

Below is an example map indicate the tax value per square foot, in Manhattan, NYC

Quick Finding:
*       Tax rate differ depending on area.

*       Tax rate differs in a large scope.

*       Everyone want to find a place with good location as well as relevant low tax rate !

What Determines The Amount Of Property Tax?

Here is a simple formula about how this rate is determined:

Tax Bill = Assessment of your house * Tax Rate

ASSESSOR determines your property's assessment value.
LOCAL MUNICIPAL determines your areas' Tax Rate.

For example, a town levy is $2,000,000, and the town has a taxable assessed value (the sum of the assessments of all taxable properties) of $40,000,000, the tax rate would be $50 for each $1,000 of taxable assessed value.

$2,000,000 / $40,000,000 =

.050 x $1,000 =

$50 (tax rate)

The town tax bill for this house with an assessment of $15,000 would be $750. The $750 results from dividing the assessment of $15,000 by $1,000 to get $15 (because the tax rate is based on each $1,000 of assessed value). Then, the $15 is multiplied by the tax rate to get the tax bill of $750.

$15,000 / $1,000 =

$15 x $50 =

$750 (tax bill)

What Makes Tax Bill Change?

Assessment of your house will be change when house improvement occurs(decorate your kitchen),etc.

Tax Rate of your house will be change when municipal changes tax levy(need fund to build a road, improve the neighborhood school), etc.

How Do I Know My Property Tax Fair?

As it is the assessor’s job to evaluate your house, and the property tax rate is set by municipal, it is really case by case.

But somehow, we could get some reference based on the neighborhood nearby. Below is a parallel compare among neighborhood will provide a good reference

How To Use The Report:
*Select the State you want to investigate at.
*Drag the Tax Due Range, Tax Rate,Median Sales Price, the corresponding counties will remain on the map.
*Click on the circle to view detail of the county.
*The size of the circle indicates the price of the tax due, and the position of the circle indicate the tax rate.

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Findings And Conclusion:

For the current house holders, as usually the property tax bill occurs twice a year,it is helpful for you to bring any questions about assessments to the assessor before the tentative roll is established. In an informal setting the assessor can explain how the assessment was determined and the rationale behind it.You may raise question based on the comparison data obtained and make adjustment.

For the future property buyers: understand the property's tax rate, assessment value before you made purchase, add the property tax rate as one of the reasons for you to choose which county to live in.  

                                                reference: propertyshark, nyc government
Data Source: Redfin