Report: Westchester, Rockland have highest property taxes of all US countiesPosted: Updated:
A new report says Westchester and Rockland both have the highest property taxes out of all counties in the country.
Attom Data Solutions released its report last week, which shows that property taxes on single-family homes increased by 4% on average. This comes as a new tax cap limits deductions to $10,000, causing financial strain for many homeowners in the Hudson Valley.
The report says Westchester residents pay about $17,392 on average. Rockland County came in with the second-highest property taxes, with an average of $12,900.
Certified public accountant Andrew Kabatchnick says as he enters into the last full week of tax season, the tax cap is still a major concern for filers. He says many homeowners filed early last tax season to avoid the cap. But it's unavoidable this year, he says.
"The old deduction was taking away some of the sting of paying such high taxes, and now some of that has gone away," he says.
He says the result is that many people are either downsizing, moving further away or even leaving the state.
Homeowners in 52 of the state's 62 counties pay average property taxes above the $10,000 deduction limit.