on top of a morgage, and maintenance fees is there property tax? probably a dumb question TIA
Mrs. dleeny
Posted:
Member since
Re: co-op taxes
absolutely! they're usually quite a bit lower than property taxes on a house, but you still have to pay something.
Beth1210
Posted:
Member since
Re: co-op taxes
the tax is normally included in the maniteince on a co-op-
diluvchu
Posted:
Member since
Re: co-op taxes
Posted by Beth1210
the tax is normally included in the maniteince on a co-op-
Beth is correct.
dandg
Posted:
Member since
Re: co-op taxes
Quote: 'We rent out a co-op for investment and the taxes are completely separate from maintenance'.
How are you renting out your co-op for investment purposes? I've asked the co-op board in my complex if I could do the same and it was not allowed. Interested to know how you got around the board.
diluvchu
Posted:
Member since
Re: co-op taxes
We have a co-op in Middle Island (Artist Lake Community). The majority of the Owners of the co-ops are actually Landlord/tenants rentals.
DjPiLL
Posted:
Member since
Re: co-op taxes
Most co-ops include the RE taxes in your maintenance. At least 75% of them do from my experience.
Blu-ize
Posted:
Member since
Re: co-op taxes
your property tax. school taxes and maintenance are usually in one payment. You can have your taxes broken out and pay them directly.
Also, keep in mind that your homeowners insurance may be included in your mortgage payment.
diluvchu
Posted:
Member since
Re: co-op taxes
I do retract my statement. Real Estate Taxes are always part of your maintenance charges. I think this snow is getting to my head.
Beth1210
Posted:
Member since
Re: co-op taxes
Posted by diluvchu
I do retract my statement. Real Estate Taxes are always part of your maintenance charges. I think this snow is getting to my head.
thanks- I thought I was starting to lose it-
diluvchu
Posted:
Member since
Re: co-op taxes
darn snow....I swear if I mix co-ops and condos one more time today I'm firing myself!
EJSD2006
Posted:
Member since
Re: co-op taxes
taxes are included in your monthly maintenance for co-ops. however, you can apply for the STAR discount (same as you would for a house) which will reduce your monthly maintenance fees.
taxes are separate for condos. you would pay a low common charge but pay add'l and separate for the property taxes. i'm a realtor, FM me if anyone needs more info or assistance.
