Governors Island
 

I was wondering what percentage of the homes on the island are used year-round as a primary residence, and how many are secondary homes / vacation properties?

Wondered the same...
 

I see a lot of very extravagant places with no lights on at night for long periods of time. I've often wondered how many "homes" do some of these people have?

..... about one out of five
 

.... looking at the lighted windows of about 25 Governor Island homes from my down and out Walmart side of the lake, a mile or two away, is about one out of five homes ..... they be some super-sized, mega mega million dollar designer homes ..... their wealthy owners never know the simple reward for doing their own snow with a 24" snowblower, snow shovel and a roof rake and then hittn' the outdoor hot tub with a beer ..... too bad ... boo-hoo!

Probably, they be in Palm Beach, Florida ...... a town with no McDonald's!

Believe Governor's Island has community water and private septic systems? Some of the stay-overs play tennis at www.gilfordhills.com. and hire someone to do their snow.

The new tax rule with the ten thousand dollar federal deduction limit has initiated a lot of homes going up for sale, but no on wants to admit it. A deduction problem ...... what deduction problem ..... ain't got no deduction problem here ...... what's you talk'n about!!!!!

Governors Island
 

Interesting question, but the two halves are not mutually exclusive. Many people have a New Hampshire home as their primary residence, even though they do not spend that much time here. A person may have a home, utility bills, vehicle registrations, etc, etc, and still only be here a portion of the year, but, by making strategic visits and being seen by the people right people, it produces the appearance of them being here enough to claim primary residency.

if one splits time between two states they will often establish residence where they pay less taxes. Not property taxes of course

Taxes again.
 

If you spend a few months in FL, you're already paying sales and property tax there. If you declare FL to be your residence you no longer have to pay the Interest and Dividends tax. If the current legislature succeeds in adding capital gains to the I & D tax, more people will declare FL as their residence.

I have no idea, short of manually cross checking voter registrations how you could determine which homes are "legally" full time residences.

Every time I read one of your posts and see how hard you have it I'm tempted to start a GoFundme page for you. We can see it is a struggle to get by on the "poor" side of the lake but somehow you keep your head high and go on.
No one minds helping out someone who is truly needy : )

state tax
 

If you come from a high tax state like NY, you MUST spend 6mos and a day in another state to declare it your domicile and believe me, NY has tax auditors galore to prove you didn't.

We lived in NY for over 20 years while owning a place on Long Island at South Point. I SO wanted to declare NH my domicile! MY accountant said NO WAY an it wasn't until 2014 that we actually moved.

Subsequently, we have moved to FL which is becoming more tax friendly than NH.

While there are five states with no sales tax; Alaska, Delaware, Montana, New Hampshire, Oregon ..... there's only one state with both no sales and no income tax ...... the NH Advantage! ...... so, go put that tax factoid into your pipe and smoke it;)? Does NH have a property tax:emb::emb:?

And in Alaska, individual cities have the option to impose a 2% sales tax, like Wasilla and Sarah Palin with its Walmart and Home Depot and building a 7-mil swim pool, ice rink, and gym, or something. (not checked for accuracy?)

Getting back to Governor's Island ...... a lot of those mega million dollar homes on the north or outer side, that face me, seem to have the incurable defect of both facing north and being situated down the bottom of their shoreline slope. They is at the bottom of the hillside, which translates to being in the shade from about 4-pm on, in the summer, and maybe from 3:00 on. They can keep it.

Up till the recently imposed 10-thousand dollar limit on deducting property and state income tax, paying big property taxes was a great super-duper deal for rich people because it entirely got deducted off their federal income taxes, but not any more, as of April 15, 2019. Of course, you needed or need to be paying federal income tax in order to be making a deduction. If you pay little or no income tax, and still have the property tax, like for older folks who are retired ..... that's very too danged bad for you.

There's probably older folks who use their social security payment to help pay their NH property tax which would not be the case with a NH sales or income tax? Of course, one can always get a paying job, a job, a job, a job ...... a what ...... yes, the problem with getting a job is that you actually have to show up on time, and then do something called work? ... :eek:

NH has a 5% dividend tax and when lived here that whacked me much more so than Florida's 6% sales tax. Moreover, NH has a 9% tax on room and dining out plus a crazy expensive registration tax for cars. As I understand it NH is also raising revenue in other "creative" ways.

Correct me where I'm wrong.

You are correct and NY goes through all your records with a fine tooth comb. Including doctor and dentist visits, cell phone bill, auto records, veterinary bills or pets, meals and food purchases. They have been very successful collecting from those that do not actually spend the 6 months and a day. A large focus are those who change residency to Florida


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Wow, NY is the gestapo!!

All high tax states are the same. The SALT limitation on tax deduction has made them more so. And people are moving out in droves. Of course, this doesn't stop pols from continuing their attempts to tax the wealthy. NJ is trying to pass a "millionaires" tax will only drive more higher end earners out.

The ramifications are that RE in these high end places are taking it on the nose. When we sold our house in Albany NY the local property tax had gone from $6K when we bought in 1989 to just under $25K. We sold for LESS than we bought it for-25 years later!

Don't believe anyone who tells you this! In NJ we have the highest property taxes in the USA. We have a high, progressive income tax, and in the early 70's we got a 3% sales tax. The sales tax is now about 7%. Gambling in Atlantic City and a state lottery were also supposed to help lower property taxes. Guess what? BS! We still have the highest property taxes along with all these other taxes. The state just invents more ways to spend. Recently they voted to offer tuition aid to illegal aliens, free school breakfasts and lunches based on income, and all day kindergarten in all school districts. Most police chiefs make as much or more than the governor. Tax and spend! Meanwhile, our roads are rated 5th worse in the nation. Where had the money gone. Please don't believe a new tax will relieve other taxes!!

See that FLL!! New Jersey is your Nirvana! Every kind of tax you want and can imagine! When you’re packed and ready to go, give me a call and I will personally fly you “home” on my nickel! Just think...another freebie! How can you say no???

.....thanks but no tanks ..... as the one and only state with both no sales and no income tax ..... could be maybe a big reason why so many here in NH are driv'n all these very expensive cars ..... and, you are what you drive ..... not too many Jaguars here!

Beware...they just might institute a “float” tax! :eek:

the problem with getting a job is that you actually have to show up on time, and then do something called work?

https://www.youtube.com/watch?v=TgecgpCfAYo

Not anymore. Being late, etc doesn't get you fired anymore because there are no replacements waiting in line for that job.

Taxes
 

Left Jersey in 1989 and never looked back.

I know that. I just can't believe they actually have a "police force" to check people out and see if they really live in another state. Wow!

It’s all about the Benjamin’s!!


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Must be different by industry and level. You cannot show up late in my line. I think the thing nowadays that builds off your theme is that there's little loyalty left. I hit the job market recently. The main critique on my resume: I had stayed in place too long in my jobs. I was told I need to "bounce" (out of a job) more often.

What BS. That is a company I’d avoid.


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Type this into Google:"don't stay in a job too long". The infection is spreading....

Ok, I think they are staying with a company for a long time you should be “progressing” (I.e., different positions, moving up, more responsibility) not staying in the same position for a long period of time. I don’t feel they are talking about just staying with the same company for a long time as being a problem. When I was hiring I wanted to see progression not stagnation.


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Was told today by people who went on the Mount Washington Brunch Cruise that they announced 8 families live on the island year round. Not sure if it's true or not, or what exactly their source of data is, but that's what they are communicating to passengers on the tour.

Island or islands? I assume plural but just wondering.

Sorry, meant Governors Island. Direct reply to the original question on post.

Oh sorry. My fault. GI WAS the topic of discussion!!!

Wow thats all?I actually know 4 of them.

Yep because to you anything over $500 is expensive and anything over 1K is a luxury car.