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hockeypuck · 11-12-2006, 05:25 PM

BlackCatIslander, That is an interesting way to look at tax burden. Here in Connecticut my number comes out to 2.8% of value. Yes, we have all the services etc. but the same thing is happening here as around the lake. The older homes along the shore (Long Island Sound) that started out as summer homes and were passed down to future generations have been upgraded to year round, and are now in the million(s) dollar range. $28,000 on a million dollar home. This is fne if you are a millionaire, but many are not. The result is that many owners are real estate rich and cash poor. They are fortunate homeowners who inherited something nice, but can no longer afford to stay, so they sell for big bucks and move. The new owners ARE cash rich and it is changing the demographics of our town and creating a larger gap in the community between the haves and the have not's. In addition in CT we have a sales tax and an income tax and a high gas tax.. When the income tax came in, the sales and realestate taxes went down, but they are creeping up again. I can see the same senerio around the lake. Don't know what the answer is.

11-12-2006, 05:25 PM	#29
hockeypuck Senior Member Join Date: Oct 2005 Location: Southern CT Posts: 169 Thanks: 19 Thanked 4 Times in 3 Posts	Taxes BlackCatIslander, That is an interesting way to look at tax burden. Here in Connecticut my number comes out to 2.8% of value. Yes, we have all the services etc. but the same thing is happening here as around the lake. The older homes along the shore (Long Island Sound) that started out as summer homes and were passed down to future generations have been upgraded to year round, and are now in the million(s) dollar range. $28,000 on a million dollar home. This is fne if you are a millionaire, but many are not. The result is that many owners are real estate rich and cash poor. They are fortunate homeowners who inherited something nice, but can no longer afford to stay, so they sell for big bucks and move. The new owners ARE cash rich and it is changing the demographics of our town and creating a larger gap in the community between the haves and the have not's. In addition in CT we have a sales tax and an income tax and a high gas tax.. When the income tax came in, the sales and realestate taxes went down, but they are creeping up again. I can see the same senerio around the lake. Don't know what the answer is.