My husband and I never looked at houses in Connecticut. Why? A combination of proximity to NYC and, I guess, the (mostly) irrational fear of what it would mean to leave New York. But I now have two sets of friends who have left Dobbs Ferry for the Constitution State. Why? Taxes, baby. Taxes.
In Dobbs Ferry, and most of Westchester, you can expect to pay somewhere around $30,000/year in property taxes for an $800,000 house of approximately 3,500 sq. ft. In comparably desirable areas of Connecticut, like Darien, New Canaan, and Greenwich, you can expect to pay more like $7,000. That means you can afford more for less in Connecticut.
Why are the taxes so much in Westchester?? I’m no tax expert, but for the little I understand about it, there are a few reasons: many of the towns in Westchester don’t have a lot of commercial taxpayers paying the big taxes. For example, in Dobbs Ferry alone, Walgreens and Stop & Shop are two of the few big businesses in town. That means the property owners have to pick up the slack. It’s possible that Connecticut towns have more commercial taxpayers to alleviate a lot of the responsibility from the residential taxpayers. Secondly, a lot of the villages in Westchester have their own mini governments, fire departments, police departments, school districts, etc. That means little Dobbs Ferry has to pay for all of that on its own. And for whatever this means, 70% of our property taxes are for the school tax. Does that mean our schools are better? Or that there are more school-aged children in Dobbs than in Greenwich? I don’t know. But our schools are awesome. 😉 And Westchester spends more per student than towns in Connecticut…
So why look at Westchester at all if you can save so much on property taxes in Connecticut? Is it the distance? The average on-peak train ride from Greenwich (one of the closest towns in CT to NYC) to Grand Central is 52minutes, whereas the same ride from Hastings-on-Hudson (one of the closest towns in NY to NYC) is 40minutes. Hmm. 12 minutes seems worth saving thousands of dollars every year, does it not?
Hopefully, I’ll be able to do some Connecticut research for my little blog sometime soon. Until then, happy hunting!