Tax abatement allows you to save hundreds per month!
http://www.realtor.com/realestateandhomes-detail/16710-Scullin-Dr_Cleveland_OH_44111_1113578442
It is not too late to qualify for $8,000 first-time home buyers tax credit if you act very quickly!!!!!!
Think you can’t afford this home???? Think again. With the tax abatement, you will save anywhere from $272 to $339/month when you compare the taxes on this $250K home to homes of much lesser values in Westpark or the surrounding communities. The following priced homes all have the SAME monthly payment (mortgage payment plus real estate taxes) as our $250K home in Westpark:
$185K – Unabated home in Cleveland
$175K – Any home in Fairview Park
$180K – Any home in Rocky River
$170K – Any home in Lakewood
You can own a $250K home for the same monthly payment as a $170K home in Lakewood!!!!!
Here is the break-down of the above: (assumes 20% down payment and 5.5% interest rate)
Abated Westpark Home 16710 Scullin Drive - $250K Purchase Price
$67/month – real estate taxes (land only)
$1,135/month – mortgage payment ($200K mortgage)
$1,202 Total Monthly Payment
Non Abated Westpark Home $185K Purchase Price
$339/month – real estate taxes
$840/month – mortgage payment ($148K mortgage)
$1,179 Total Monthly Payment
Fairview Park Home $175K Purchase Price
$396/month – real estate taxes
$794/ month – mortgage payment ($140K mortgage)
$1,190 Total Monthly Payment
Rocky River Home $180K Purchase Price
$368/month – real estate taxes
$818/ month – mortgage payment ($144K mortgage)
$1,186 Total Monthly Payment
Lakewood Home $170K Purchase Price
$442/month – real estate taxes
$772/ month – mortgage payment ($136K mortgage)
$1,214 Total Monthly Payment
