The truth of the matter is that all the weathly people who own property on the Island and have summer homes also have very very very very low property taxes.

We did a search on one of Martha Stewarts properties in Suffolk some years back and her property taxes were less than 3K a year. If this was a "full time residence" the taxes would be something like 25-30K a year. The propertys assessed value was 5 million. So how is that fair??

Kevin, you are right about rents in Manhatten, for 2K in a nice area you can get a beautiful studio apartment, around 350 square feet. And if you have a car another 3-400 a month to park it in a garage close by!

Personally I could never live in the city, its to noisy!

I like to hear birds chirping when I wake up in the morning, not cars honking.