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Question for Real Estate Tax Gurus...

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Old Dec 18, 2003 | 08:16 PM
  #1  
Mister2's Avatar
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From: Vice City
Default Question for Real Estate Tax Gurus...

I have been paying quarterly NY state property restoration taxes on my one bedroom condominium for the past year. It's a condominium in a building complex, not a townhouse. Correct me if I am wrong but I always thought that property restoration taxes were taxes that are paid to "upkeep" the surrounding property like the sidewalks, streets, and greenery if applicable. If I live in a condominium, I only own the living space (inside walls and fixtures, etc) and not the outside.

So why am I paying property restoration taxes on property that does not belong to me??

Could they be mistaking my ownership as a co-op (where you own shares in a company that owns the building) and not a condo??

Is there some kind of tax loophole that works against me and gives the NYS Dept. of Finance the right to charge me tax on property that doesn't belong to me?

I have been trying to get through these morons for a while because my city quarterly property taxes (which I know I should be paying obviously) has gone up almost 4 times than what they used to charge me last year so there must be some mistake. But the line is always busy.

Thanks for any help.
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Old Dec 19, 2003 | 03:55 PM
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From: La Selva
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Consult an attorney of your choice for legal advice.
I am not an attorney but I do know a little about this subject.
You are right. Condo ownership is the airspace within the walls of your unit. But there are common areas that your space is enclosed in and common areas that you do enjoy. In most condo complexes there are common areas such as walkways, stairs, exterior paint, gutters, roof, landscape, pool, Etc. Then there is hazard and liability insurance for the "common areas." If you are an owner, you should have recieved a copy of the CC&Rs regarding what is considered common area. Unfortuanately, "the association" can and does raise condo association dues to meet needs and there is really no way around it besides joining the board of owners and or voting at meetings. I guess majority rules. The association should have a copy of the CC&Rs, an accounting of where and how money is spent. On the other hand, if you do own, this is improving your property and hopefully increasing the value of your condo. Mobile home parks have the same problem. It's a real pain in the pocket when they decide to resurface the streets in a mobile home park. $$$$$$$$$$ My advice is that you go to the meetings and see what's up and where and with who your money is being spent. There may be other owners that are upset and protesting the increases. Have you seen any major improvements? Mismanagement does happen as well as cronyism. You may need to hire a lawyer to battle "the management" and take it over yourselves as owners. Outside management companies do get out of hand and need to be held liable. You are not alone. This happens often. Organize the other owners and demand an accounting.
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