How Much are Taxes On New York’s Luxury Homes?
Before purchasing a home, you want to know how much the tax bill is likely to be. Here’s a look at some of the most expensive homes for sale right now, and how much the taxes are each year.
88 Old House Lane, Sands Point, NY
This home is an 8 bedroom, 13 bathroom (4 half bathrooms) home covering 16,000 square feet of living space. It’s a Post Modern style home, newly built with all the amenities you could ever ask for including a full spa area, golf simulator, steam room, hot tub, basketball court and so much more. Listed at $29 million, this home comes with a tax bill of $91,841.
24 Hicks Lane, Sands Point, NY
With 9 bedrooms, 6 bathrooms (1 half bathroom) and more than 17 acres of land on located directly on the water, this home provides plenty for the new owner. It was built in 1941 and provides a deep water dock for large yachts, along with incredible views of New York City. For $23 million, you can own this one and you’ll be responsible for a tax bill of $243,701.
144 Kings Point Road, Great Neck, NY
A 7 bedroom, 13 bathroom (4 half bathrooms) home covering 13,000 square feet, this property is up for sale for $22 million. It was built in 2002 and sits on a lot of more than three acres in size. The tax bill for this beautiful home is $185,730.
2040 Meadow Lane, Southampton, NY
A six bedroom, seven bathroom home built in 1983, this property is up for sale for the cool price of $21,950,000. It’s a traditional home with about 7,500 square feet situated on a very large lot. Once purchased, the new owner of this home will have a tax bill of $41,000.
Buying an expensive home usually means a high tax bill. Of course. When you’re planning to spend more than $20 million on your next house, the difference in a tax bill of $50K and $200K may not be that big of a deal. Yet, savvy buyers and investors should always be looking to avoid waste where they can. Using Property Tax Adjusters, Ltd. can help keep your taxes down, and perhaps create a little extra surplus for some of the renovations you’ll want to do.