It’s Father’s Day again, and the property taxes on Long Island are still high. What does that mean for the best gifts we can give this year?
The Property Taxes are just too High
The average property tax bill on Long Island can be more than the annual rent on a beachfront condo in other places. Those high taxes might be putting a dent in how much you have to give this Father’s Day and for upcoming holidays, as well as cramping quality of life for all the fathers and their families on Long Island.
It’s been proven there is a big difference in how much you’ll pay in property taxes each year, depending on if you challenge your tax assessment or not. So, first, challenge your own property tax assessment and free up some more cash. Two, if you can’t give anything else, tell the fathers in your life about the ability and importance of appealing their property taxes. That’s a gift that can keep on giving them thousands of dollars a year for life.
A Place in the Sun
Coming up with a property tax system fix that makes everyone happy seems really tough. Don’t expect a miracle fix anytime too soon. So why not gift the fathers you care about a condo down in Florida where they can switch their residency and eliminate state income taxes and our high property taxes? The weather is better and you can go visit on vacation (for free). You can always save them a spare room when they want to come visit LI for the holidays or in the summer months. Too far or too hot? Cleveland, OH offers a lot of value for money. Just $50k can get you a 3 or 4 bedroom house with yard and basement, and for aging fathers it’s one of the best medical centers in the world.
One of the proposals for offsetting rising property taxes on Long Island is to tax online shops. That could be really detrimental to innovation and small business, but there is no simple fix. So, if the fathers in your life have been yearning for something on Amazon, now is the time to buy it for them before prices go up.
How about a new ride as a Father’s Day gift this year? A lower cost, more efficient vehicle could be just the thing. Gas prices are going up fast and could go a lot higher if new gas taxes are levied. It could empower fathers to move somewhere less expensive on LI and save more on those property taxes, without meaning you’ll hardly ever see them.
The Gift of Time
Time is of course most valuable gift we have to give. If you can’t give anything else and no matter how abundantly you can afford to give, give some of your time to a father or family this Father’s Day. It’s priceless.