Archive for February, 2013

Tax Exemptions for 2013/2014

Posted: February 28, 2013 in Uncategorized

Tax Exemptions

 

You could be eligible to lower your Real Property Taxes for the upcoming tax year 2013/2014, but you must file for this exemption.

 

If you are a Veteran, or widow of a veteran and already have the exemption, you need do nothing to keep it.  Same with the STAR exemption.  However there are other reasons to see if you qualify for more exemptions.  Listed below are some of them that you may be eligible for, but you must apply for them each year as conditions for this change.

 

 

Basic Star, House must be your primary residence and total income is less than $500,000 a year.

 

Enhanced Star, this is an increased benefit for senior citizens (age 65 and older) again with income limits. 

 

Senior Citizen Exemption, more information can be found on line at  http://www.tax.ny.gov/pdf/publications/orpts/senior.pdf

 

Disabled Exemption, check for conditions to see if you qualify, see the link here;  http://www.tax.ny.gov/pdf/current_forms/orpts/rp459c_fill_in.pdf

 

There are many types of exemptions, for a more comprehensive list see them here; http://www.tax.ny.gov/pit/property/exemption/index.htm

 

For some exemptions March 1st is the deadline to file, others March 15th is the deadline, so don’t delay, act now for your exemption.

Most of us just have the basic Star, Veterans, or Senior Citizen exemption; deadline is March 15 for the fiscal year 2013/2014.

 

See more information on page 2.  I’ve enclosed a form for your convenience.  If you are not eligible for any of these benefits, please share this information with someone who might be.

 

 

Visit my website kennethcolerealestate.com for Spring Home Maintenance tips.

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Coming soon, Eltingville Ranch, Staten Island South Shore, $459,000

This one will be sold fast.  No kidding. Over-sized property on a beautiful tree lined street.  Three bedrooms, one and 3/4 baths, central air, hardwood flooring and more. Not many units for sale in this area, when they go up for sale, if priced right, they sell fast.  Not long ago I had another beauty just around the corner from this unit and it sold in 3 days.

So, if you’re looking for a great buy in Eltingville, give me a call and I’ll be sure to call you ASAP after I get the signatures.

Kenneth Cole, Licensed NYS Real Estate Salesperson, working with Appleseed Homes.  718-698-9797, or better yet call me direct at 917-696-0275

Pictures and more information to follow., call Ken the Eltingville Expert

Update; Thursday 21 February, 2013, 3:50 P.M. Offer to purchase accepted after 30 minutes on the market.  Did not get a chance to post any pictures, but will soon.

Update Friday Feb 22, 2013.  Received two calls today about the house even though it’s in acceptance.  Folks, don’t hesitate to call me about this or any other property you are interested in because you never know, things could change and the unit goes back on the market again.  Then I would call you first.  Good hunting.

A job well begun, is half done!

Website

http://www.kennethcolerealestate.com

Save Money On Your Property Taxes in 2013/2014

Deadline to file for an exemption is March 15th. for single and two family houses.  Some requirements have changed, so you need to check what they are now.

These are some of the Exemptions;  Please read the whole form, some have extra benefits, as Veterans and Expanded STAR.

New Toll Rates for Verrazano-Narrows

Starting at 2 AM March 3, 2013

$10.66 for E-Z pass customers, $15.00 for cash customers for cars.  What a disgrace.  But wait, there’s more.  They’re not finished with us just yet.  More toll increases are on the way, this is just a start.

Sorry to be the bearer of bad news.

A truck with 5 axles paying cash will be charged $80.00

For more information click on the link below

http://www.mta.info/bandt/html/bttoll2013.html

Choosing a Real Estate Agent to help me buy a house.

Agency Disclosure;  There are two basic types of agency relationships that buyers need to know about when looking to buy a house. In New York State, the DOS, (Department of State Division of Licensing Services) require that all agents disclose this to buyers upon first initial meeting.

To quote the record, from DOS 1736 (11/06)…

.Buyer’s Agent

A buyer’s agent is an agent who is engaged by a buyer to represent the buyer’s interest.  The buyer’s agent does this by negotiating the purchase of a home at a price and on terms acceptable to the buyer.  A buyer’s agent has, without limitation, the following fiduciary duties to the buyer;  reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account.  A buyer’s agent does not represent the interest of the seller.  The obligations of a buyer’s agent are also subject to any specific provisions set forth in an agreement between the agent and the buyer.  In dealings with the seller, a buyer’s agent should (a) exercise reasonable skill and care in performance of the agent’s duties;  (b) deal honestly, fairly and in good faith;  and (c) disclose all facts known to the agent materially affecting the buyer’s ability and/or willingness to perform a contract to acquire seller’s property that are not inconsistent with the agent’s fiduciary duties to the buyer.

Seller’s Agent

A seller’s agent is an agent who is engaged by a seller to represent the seller’s interest.  The seller’s agent does this by securing a buyer for the seller’s home at a price and on terms acceptable to the seller.  A seller’s agent has, without limitation, the following fiduciary duties to the seller;  reasonable care, undivided loyalty, confidentiality, full disclosure, obedience and duty to account.  A seller’s agent does not represent the interest of the buyer.  The obligations of a seller’s agent are also subject to any specific provisions set forth in an agreement between the agent and the seller.  In dealings with the buyer, a seller’s agent should (a) exercise reasonable skill and care in performance of the agent’s duties;  (b) deal honestly, fairly and in good faith;  and (c) disclose all facts known to the agent materially affecting the value or desirability of property, except as otherwise provided by law.  (End of quote from DOS)

So, buyers should understand the difference.  Is your agent working for the seller or you?

Don’t be afraid to ask the agent you are going to work with, to explain the difference.  In Staten Island, most agents helping buyers find a house, are working for the seller.

If I can have the loyalty of the buyer, I mush rather work as a Buyer’s Agent.  I believe I can better serve the client that way.

Can I help you find the home of your dreams?  Let’s have a chat, and find out if we make a good match to work together.  Call me at 917-696-0275

Meanwhile check out my website for great information buyers need to know about owning a house.