The Siena Research Institute releases results of special New York Homeownership Survey; NYSAR calls on lawmakers for tax reform
The Siena Research Institute releases results of
special New York Homeownership Survey; NYSAR calls on lawmakers for tax
reform
5/26/2010
Today, the New York State Association of REALTORS and the Siena
Research Institute (SRI) released the results of a special New York
Homeownership Survey which explored public opinion about real estate
related issues.
Don Levy, PhD, SRI director, presented the key findings of the survey,
which include:
• 84 percent of respondents say homeownership is a major part of
achieving the American Dream.
• One third believe their home value is down, but 69 percent expect
appreciation on the way.
• Seventy-five percent feel that what they pay for real estate taxes is
too high.
• Two-thirds of New York homeowners fulfill their obligation to pay
taxes, but don’t believe their hard-earned dollars are well managed or
used efficiently.
• The biggest concerns were property taxes for homeowners and
qualifying and down payments for buyers.
• The survey also found that 82 percent believe that REALTORS provide
guidance for buyers and sellers in working through all the aspects
involved in home transactions.
“Today, the results of the New York Homeownership Survey conducted by
the Siena Research Institute show that a great majority of New Yorkers
consider homeownership to be a quintessential piece of the American
Dream, but one that has become increasingly difficult to achieve and
maintain in the Empire State,” said NYSAR President Hank Fries. “The
American Dream of homeownership is in danger here in the Empire State
due to unfettered property tax increases, high closing costs and real
estate transaction taxes.”
Fries went on to say that New York State lawmakers should act to stem
this tide. “Today, New York REALTORS, on behalf of our fellow Empire
State residents, continue to urge Albany lawmakers to enact structural
reforms to the tax system that will foster tax savings for property
owners. Every step the state takes toward lower homeownership taxes is a
step toward restoring the state’s quality of life and economic
vitality.”