New Yorkers have long suffered both extremely high property tax bills, and consistently flawed and over-inflated bills.
So, how is it that other countries, states and cities survive and thrive so well without them? Or at least far cheaper property tax bills?
What if you are tired of high annual property taxes, but don’t want to sell your home in NY and move?
Tax havens have long proven to be among the wealthiest and most successful cities and countries. Some have done it without personal or corporate income taxes. Many without annual property taxes. Plenty have low crime rates, great weather, and other perks.
While these destinations frequently change, they have included Cyprus, the Cayman Islands, Dubai and others.
They thrive because they are appealing for people to move to, own property in, take their money there, and set up business.
You don’t have to go overseas to find lower property taxes either. Florida is one of the most magnetic destinations in the US.
Not only have many New Yorkers fled there for low property taxes and cheaper home prices, but for no state income taxes, and their homestead protections.
Tulsa, Oklahoma is a great example of a city which has managed to attract great residents, boost local incomes, and create lots of new jobs, all without needing high property taxes.
In fact, Tulsa boasts one of the lowest property tax destinations in the US, with an average annual bill of just $1,278.
For the past four years they’ve also been offering remote workers an array of incentives to move there. This includes $10,000 in cash, monthly stipend payments, discounts on apartments and workspace, and $10,000 to buy a home.
Here the average home price is only around $200,000. Which can get you a pretty nice and spacious single family home with a yard.
Way back in 1999, this small town decided to invest in affordable high speed fiber internet. The money they make from that has paid for much of their public services and infrastructure. Since 2012, it has enabled them to begin doing away with some property tax items as well.
You Don’t Have To Move To Lower Your Property Taxes
If you’d like better weather, low crime rates, lower property taxes, and perhaps even no taxes, or even getting paid to live somewhere, and a down payment on a home, there are other options out there.
We also know that there is nowhere in the world quite like NY. If moving just isn’t appealing for you, you can still lower your property tax bill and stay in place, by challenging your bill and assessment with the help of Property Tax Adjusters, Ltd.