Property taxes hit home in Westchester
/“This has become a summer of discontent for those trying to sell their homes in New York City’s leafy suburbs — in no small part because of the Trump administration.
In affluent enclaves in Westchester County, New Jersey and Connecticut, a federal cap on state and local property tax deductions has begun to bite hard. Longtime homeowners who dreamed of offloading their empty nests are finding their plans complicated by the tax bill, as would-be buyers hold back, expecting sellers to cut their prices.
The issue is especially acute in areas of Westchester, the county with the nation’s highest-property taxes, where annual bills of $35,000, $50,000 and more are not uncommon.”
Read the whole article. Basically, sales are down, prices being cut, as potential buyers balk.
(I'll be traveling today, so no more blogging. Back tomorrow)
