Hits: 139
|
Westchester Home Sales UP Sharply Prices Continue to Fade.
Hits: 156
WPCNR HOUSING NEWS. From the Hudson Gateway Association of Realtors. April 11, 2016
Realtors operating in the four-county lower Hudson region served by the Hudson Gateway Association of Realtors reported 3,391 closed residential transactions during the first three months of 2016, an increase of 530 sales or 18.5% from the same period in 2015.
The burst of closings largely resulted from market activity that took place during the winter months of 2015 and the first few weeks of 2016. First quarter closings are not only increasing but are accelerating with year-to-year increases of 10.8% from 2013 to 2014, and 12.1% from 2014 to 2015. The sales activity in 2016 was accompanied by relatively flat average prices.
Westchester County, typically accounting for 50-60% of the region’s real estate sales, posted a 14.0% first quarter gain over 2015. Setting aside its relatively small multi-family sector, cooperatives were the best performing sector with a 17.5% increase over last year. Condominiums followed at 15.7% and single family houses at 11.2%. Altogether there were 1,847 sales, an increase of 227 units over last year’s first quarter total.
However home prices in Westchester County continued to decline:
The median sale price of a single family Westchester house was $569,950 – down 5.0% from last year’s $600,000 (and 2014 as well).
The overall end-of-quarter supply of properties for sale in the Hudson Valley region hardly budged from 9,662 units in 2005 to 9,703 units in 2016 although there were differences
Westchester, having the most housing stock, also posted the highest percentage of inventory increase, 3.2%, among the counties.
As observed in prior reports, the region’s supply of for-sale housing seems sufficient to support increasingly high volumes of sales without undue upward pressure on prices. In fact, median* and mean* sale prices actually decreased year to year in most cases.
The lower Hudson Valley real estate market is running smoothly and at high speed. The supply of housing seems adequate to support the high volume of sales. Price increases are not outpacing inflation and are falling back a little in some areas and among some property types. That easing of prices probably is one of the major factors driving prospective purchasers to enter a local real estate market where buyers’ and sellers’ expectations are in accord.
The environment that has enabled this performance has been relatively stable for the past several years. High unemployment, which makes consumers fearful for their own jobs and thus dampens their enthusiasm for acting on their own real estate needs, has steadily dropped to 4.5% or lower in all four HGAR counties. Mortgage interest rates remain at historic lows.
The recent action of the Federal Reserve to raise its base rate to 25 basis points is not perceived to have any meaningful impact on the real estate market. Volatility in the equity markets could put a damper on enthusiasm for real estate in the short term. So could chaotic post-election government in Washington. But for the time being there is every reason to expect that our local real estate market will do well for at least the next two quarters of 2016.
WHITE PLAINS WEEK THE FRIDAY SHOW–ON www.whiteplainsweek.com and YOU TUBE NOW
Hits: 140
PETER KATZ, JOHN BAILEY, JIM BENEROFE
ON
THE SUSTAINABLE WESTCHESTER OPT OUT ELECTRICITY SUPPLY PROMOTION AND HOW IT AFFECTS WHITE PLAINS
THE CITY BUDGET PROPOSES LOWEST TAX INCREASE IN 16 YEARS. HOW ABOUT THAT?
THE LOUSY WEATHER
MINIMUM WAGE AND FAMILY LEAVE
THE NEW TAXI RATES AND REGULATIONS
ON
www.whiteplainsweek.com
AND ON YOUTUBE AT
WHITE PLAINS USHERS IN NEW TAXI REGULATIONS NEW TAXI RATES–METERS–DOUBLES COST OF CAB RIDES–TARGETS UNAUTHORIZED CABS CRUISING AND RESPONDING TO WP CALLS.
Hits: 297
WPCNR TAXI TAXI! GET ME TO THE TRANSCENTER AND STEP ON IT! By John F. Bailey. April 8, 2016 UPDATED APRIL 9, 2016:
The Common Council voted to approve a sweeping revision of White Plains taxi regulations Monday evening, which sets new standards for taxi operations in the city and prohibits cabs and cab companies who do not have White Plains medallions from picking up customers within the White Plains city limits.
Of paramount interest to the consumer, the ordinance approved on the consent agenda sets new taxi rates, effectively doubling what you pay for a cab — the chart below shows the new rates. No longer will there be set zone fees, the taximeter, required in all White Plains cabs, instead you will pay by 1/8 of a mile traveled.
The rates below take effect approximately July 1.
The Ordinance appears to take an aggressive stance to private ride services responding to cellphone requests for rides from the White Plains downtown, and to target for fines and jailtime if caught picking up riders without having a White Plains-issued taxi medallion and an ovehead rooflight. The fines for unauthorized operation of a taxi in White Plains are detailed in the following graphic — direct from the city ordinance:
The new ordinance completely reorganizes taxi operations in White Plains and installs the new fees (above) for White Plains taxicabs, to wit:
THE NEW CAB HAIL ZONE AS DESCRIBED IN THE NEW TAXI ORDINANCE.
All White Plains licensed taxicabs are required to install a taximeter within 3 months from the enactment of the ordinance; Fares will increase as each cab ride progresses according to the graphic above.
Requires that all White Plains licensed taxicab drivers submit to annual drug testing;
New Fees as provided in the new City Ordinance.
NOW ON PEOPLE TO BE HEARD: White Plains Jimmie Morricone on Uber Cabs and Westchester County…on www.wpcommunitymedia.org
Hits: 144
ON PEOPLE TO BE HEARD,
JIMMIE MORRICONE
WHITE PLAINS LIMO DRIVER, MOVIE PRODUCER
AN EXPERT ON THE TAXI AND LIMO SITUATION IN WESTCHESTER
TALKS
UBER
AS THE COUNTY LEGISLATURE TAKES UP WHETHER TO REQUIRE UBER TO BE LICENSED IN THE COUNTY.
IS UBER WRONG FOR WESTCHESTER OR RIGHT?
IS UBER SAFE FOR THE PUBLIC?
WHAT ARE THE COSTS?
WITH JOHN BAILEY SEE IT AT 7 SATURDAY EVENING ON
CHANNEL 45 VERIZON FIOS COUNTYWIDE
OR
ON WHITE PLAINS CABLEVISION CHANNEL 76
OR
GO TO
www.wpcommunitymedia.org
to see the program NOW
87% of White Plains 3rd to 8th Grades TAKE the New State “Reviewed for Fairness” ELA Assessments; 13%, 414 OF 3,185 HELD Held Back by Parents
Hits: 105
WPCNR SCHOOL DAYS. From the White Plains City School District and John F. Bailey. April 6, 2016:
Michele Schoenfeld, Clerk to the Board of Education reports that 87% of approximately 3,185 Grade 3 to 8 students took the ELA assessments yesterday.
A total of 414 students (13%) of approximately 3,185 students in Grades 3 to 8 were held back by their parents from taking the English Language Arts Assessment Tests administered across White Plains’ five elementary and 2 middle schools yesterday.
Last year 10%, 327 of 3,213 students eligible to take the ELA Assessment tests in Grades 3 to 8 were held back by parents from taking the exams.
The ELA Assessments this year, were carefully gone over by 22 teachers for appropriateness and answerability by grade level.
According to a news release from MaryEllen Elia, released March 16, the tests administered Tuesday though originally created by Pearson, (the international educational materials publisher dismissed last spring as contractor for creating NYS assessments), were vetted for appropriateness by grade.
Ms. Elia in the news release went on record, assuring teachers and parents the tests this year should be “fair,” for all students each grade taking them, to wit:
“We hired a new company to help us develop future assessments (Questar, credited with upgrading Minnesota state assessments success). We brought teachers from across (N.Y.) state to review every reading passage, word problem, and multiple-choice question on this spring’s tests to make sure they’re fair. In all every item has been reviewed by at least 22 educators. Going forward, we’ll bring even more teachers into the process.”
On Tuesday, the majority of students held back in White Plains attended the middle school (grades 6 to 8). Here are the opt-out figures by grade as of this morning supplied by the Clerk to the Board of Education.
White Plains Grades 3 to 5: 7%, 118 students.
Grades 6 to 8: 18%, 296 students
Total, Grades 3 to 8: 414, 13%
WHITE PLAINS ANNOUNCES VIRTUAL ZERO TAX INCREASE IN NEW BUDGET–LOWEST INCREASE IN 16 YEARS
Hits: 169
CITY RAISES BUDGET $4.6M T0 $183.8 MILLION, AN INCREASE OF 2.6%, HOLDING TAX RATE TO $200.95
TAX RATE UP 21 CENTS 1/10 OF 1%!
WPCNR QUILL AND EYESHADE By John F. Bailey. April 4, 2016:
The White Plains city administration presented the 2016-2017 proposed City Budget to the Common Council this evening with a $183.8 Million budget raising property taxes 1/10th of 1 percent—the lowest tax increase since before WPCNR started covering the city finances (2000-2001).
In 2000-2001 the city tax rate per $1000 of assessed valuation was $91.48/M on a budget of $86,145,700 and now 16 years later it will be $200.95 per $1000 of assessed valuation on a budget of $183.9 Million.
The city Budget Director Michael A. Genito and Fiscal Advisor, Eileen Bradley presented a budget that rises $4.6 Million to $183.8 Million (a 2.6% increase from the $179.2 Million of 2015-16, (now in its 9th month)
However, the city has offset the increase with increases in licenses and permits of $1.6 Million and charges for services of $1.8 Million, (including an increase of 10% in parking permits).
The city plans a $5.1 Million appropriation to the general fund from the Tax Stabilization account which can only be used “to address either a significant and unforeseen shortfall in a major revenue source; provide funding for a significant and unforeseen increase in expenditures and/or be appropriated in the adoption of an annual budget to reduce a property tax levy increase to no more than 2-1/2%. Section 68 of the City Charter further prohibits the Common Council from appropriating an amount in excess of the balance reported in the account at the close of the prior fiscal year.” The city transfers approximately this amount each year, which is why the Tax Stabilization Fund, created by a transfer of sales tax revenues each year, has not grown significantly.
The city says that the city tax rate will go up just 21 cents per thousand dollars of assessed valuation, an increase of less than 1/10 of a percent.
The city says this will amount to a $3 (yes, $3 dollars) in city property taxes for the median home assessed at $13,600 assessed value.
The budget allows for all anticipated step raises and future negotiated contracts yet to be determined in the Reserve for Financing. The city is facing demands from three unions that are without a contract the fire union, the CSEA and the Teamsters mostly demanding parity with the police settlement through 2018 for 2%, 2-1/8% and 2.5%. According to the budget presented this evening the settlements the city anticipates are covered.
The city says sales taxes will decrease 2.4% to $45.1 million, though if March, April May and June sales receipts equal last year’s totals ($16 Million), the sales tax “take” will be approximately $54 Million, which would be an all-time high for the city. The city is forced by the Charter not to count revenue they have not taken in beyond the end of the last fiscal year.
The city budget document reports this the fifth year the city has proposed a budget within the New York State Tax Cap which this year plumetted to 1% of tax levy increase allowed. the tax levy is $56.3 Million (including the Business Improvement District) and is under the state levy cap by $13,000.
It is interesting to note that sixteen years ago in 2000-2001 the city tax rate per $1000 of assessed valuation was $91.48/M on a budget of $86,145,700 and now 16 years later it will be $200.95 per $1000 of assessed valuation on a budget of $183.9 Million.
The tax increases by the city in the last two years and the proposed 1/10 of 1% proposed for 2016-17 are the lowest in the last 16 years when increases averaged 5% a year.
SUSTAINABLE WESTCHESTER MAKES PITCH VIA MAIL TO WHITE PLAINS RESIDENTS…
Hits: 179
WPCNR THE POWER NEWS. By John F. Bailey April 4, 2016:
Look for this envelope in your mail. Open it! Pay attention to it!
Yours truly received it today.
It is from Sustainable Westchester and it is giving you 20 days to say “No” to joining in a group electricity rate for the residents of White Plains and 19 other communities, if you do not respond you are automatically switched to Sustainable Westchester.
The mailing contains this reply card:
Return this Reply Card checking the box to the “Please Do Not” LINE to turn down Sustainable Westchester savings and retain your present supplier, most likely Con Edison
The mailing contains this letter:
The letter offers you this rate .0768 cents per kilowatt hour if you request the 100% Renewable Energy Supply (Green option) or a Basic Supply Option Rate of .0738 cents per kilowatt hour, both rates are compared to thre 12 month Consolidated Edison Rate average of .0809 cents per kilowatt hour.
If you do not wish to change your supplier of electricity to Sustainable Westchester you must call return the Reply Card within 20 days…or call Con Edison Solutions at 1-888-437-1722.
THE ASSESSMENTS NEXT DOOR: FEINER–GREENBURGH NEW ASSESSMENTS WILL NOT BE IN EFFECT UNTIL 2017. MODIFICATIONS MAY BE MADE UP THROUGH SEPTEMBER
Hits: 140
WPCNR THE FEINER REPORT. From Town of Greenburgh Supervisor Paul Feiner. April 3, 2017:
Many residents contacted me this weekend. They just received their tax bills which are due at the end of April. The dollar amounts are using the old assessment numbers.
The reason: The tax rolls are finalized in September- not in April. Between now and September Tyler, the Assessor and the Board of Assessment will continue to make modifications in the assessment numbers that you received last month.
This is in compliance with NYS law. The new assessment numbers will be finalized in September of this year and taxes will be based on those numbers starting in 2017. Other questions: Do you have to reapply for STAR? The answer: Only if you receive the enhanced STAR benefits (which is income based for seniors).
The Assessor, Edye McCarthy and Town Board want to make sure that you are assessed correctly. When I met with the Assessor on Saturday at Town Hall she indicated that about 2,000 property owners out of 28,000 have so far contacted Tyler technologies making appointments for informal hearings to seek adjustments in the tentative assessment numbers. If you have not asked for an appointment yet please call Tyler at 1-800-273-8605. There are closer to 6,000 properties that will experience tax hikes after the reassessment is completed. I’m hopeful that those who feel that Tyler’s estimated property values were wrong will seek a meeting so that Tyler could make appropriate adjustments.
28,000 properties are a lot of properties to assess at one time (the first reassessment in 60 years). Tyler is making some adjustments. If residents meet with Tyler and in June you’re not satisfied with the results – the Assessor (at that time) has the option to make adjustments. And you also have the opportunity to file a grievance with the Citizens Board of Assessment Review. Look at the letter you received from Tyler last month as only a first draft. The final rolls won’t be finalized until September.
During the past few weeks the Assessor, Deputy Assessor, staff in the assessors office and I have been meeting with many residents –answering questions, providing them with records they are requesting that will help them when they meet with Tyler and discussing process. We’re more than willing to meet with individuals, neighborhood civic associations, even a handful of your neighbors during this process. We share similar goals: No one wants you to pay more than your fair share in taxes. If you would like to schedule a meeting with me and the Assessor or Deputy Assessor to discuss the process or to obtain more information about your own property, please e mail me at pfeiner@greenburghny.com.
What should you bring to Tyler when you meet with them? photographs (inside and out), cost estimates of any work completed or in the process, an appraisal or a market analysis from a realtor, sales listing or contract of sale, comparable sales in your neighborhood, and lastly, everything and anything you feel would change the value of your home, such as, but definitely not limited to: your property floods, you live on a busy corner, or close to a highway or commercial property or tension wires, etc. another example, may be, your kitchen and bathrooms have not been updated or they have, or the house is under construction. Again, the more you tell them, the more information they will have to assess your property correctly. By law, you do not have to let them, but it would surely help if they request an inspection. There is a lot of information on the town website: www.greenburghny.com (home page). We are also adding more information on the Assessors page (on the left side of the home page there is a category called departments. Click Assessor and you’ll find some additional helpful info.
We are also planning to try to come up with some recommendations that could ease the impact of tax hikes for those who will be reassessed upwards. Most people in town will see no impacts or tax cuts as a result of the reassessment. But -others will experience hikes and it would be great if we could figure out a way to help them. Please continue to e mail me your suggestions: pfeiner@greenburghny.com. Some of the mitigation recommendations will probably require State Legislative approvals.
Finally–although some people are upset that we are reassessing after 60 years because their taxes went up– it should be pointed out that reassessment is not a revenue generator for the town. The goal is fairness: people living in the same kind of house should pay similar taxes –not thousands of dollars in different amounts. Over the years some people added additions to their properties without notifying the town. During the reassessment process we’re able to adjust the taxes on these homes -based on the additional work that was done. There are taxpayers who have been overpaying for years. Now, after the reassessment is implemented their taxes will go down and they will pay only their fair share. And–once the reassessment is completed we should see fewer grievances. The town, school, county, fire districts have been issuing up to $10 million per year in tax refunds, paying significant dollars in defending these certiorari actions in legal costs. That will slow down. So in summary – it was important to reassess. However – we want to make sure that your properties are assessed correctly.
Members of the Town Board are also interested in hearing from you. Feel free to e mail the entire Town Board at town board@greenburghny.com. Francis Sheehan, Diana Juettner, Ken Jones, Kevin Morgan and I want you to have confidence in what you’re doing and we would be happy to respond to your questions and suggestions. The Town Board also approved a law requiring periodic reassessments approximately every five years so the town will never experience this tax shift again.
PAUL FEINER
WHITE PLAINS WEEK ON HILLARY CLINTON RALLY, THE NEW TAXI REGULATIONS, THE QUESTION OF THE WEEK AND DEBATE CHAOS.
Hits: 115
EXCLUSIVE WPCNR VIDEO ON HILLARY CLINTON HIGHLIGHTS–PETER KATZ REPORTING. WHAT YOU DID NOT SEE.
JIM BENEROFE’S TAKE ON AGING AND THE PRESIDENCY
JOHN BAILEY ON THE SURPRISE TAXI REGULATIONS BEING VOTED ON MONDAY AND THE QUESTION OF THE WEEK AND HOW YOU CAN ANSWER IT.
SEE IT NOW
ON YOUTUBE AT
TONIGHT 7 P.M. ON WHITE PLAINS WEEK ON FIOS CHANNEL 45 AND CABLEVISION CHANNEL 76 ON WHITE PLAINS TV
AND LATER ON THE INTERNET AT
www.whiteplainsweek.com
WHERE THE REAL NEWS IS