Property tax math
I’ve tried to get my head around the property tax discussions here. But I could use some feedback on our new assessment: We recently bought a 2-family in Bushwick which had been receiving a senior citizens exemption, leaving the taxes at about 3,000/yr. Now the new assessment comes in and, not surprisingly, the exemption has…
I’ve tried to get my head around the property tax discussions here. But I could use some feedback on our new assessment:
We recently bought a 2-family in Bushwick which had been receiving a senior citizens exemption, leaving the taxes at about 3,000/yr. Now the new assessment comes in and, not surprisingly, the exemption has been lifted – and the tax has tripled. We paid significantly less than Finance’s assessment based on comparables – I just wonder if it’s worth disputing the new figure either because it’s such a huge increase, or because the assessment is high. Or any other reason?
Is this number in line with other’s figures for comparable homes? We expected the tax figure to change – but I didn’t think it could triple in one go.
I’m going through a problem with my property taxes in Bushwick (3 family; class 1). Our problems may be related. Please contact me off line and I’d be happy to share with you what I’ve learned. I’ve been fighting this for a year, since we bought the place.
janicebiggs@earthlink.net
LOL
Welcome aboard, Asshat 🙂
jose-
The assessment you receive in the winter doesn’t tell you your taxes, only your assessed value. That’s because it’s for fiscal year 2010 which doesn’t start until July 1 and the tax rates don’t get set until June. You could use last year’s tax rate as a start — I’m not sure what it was, but it’s probably in the ballpark of 15 percent. Apply that to your billable assessed value and that will give you an estimate of your taxes.
Try my lawyer..
David Fainkich
718-840-5860
david@dfainkich.com
Just remember, its Jewish holy days and its gonna be tough.
OOOOOHHHHH….
I am prepared for your abuse…
I just went about reviewing the Finance assessment, and realized I skipped a couple of important words. That is, the figure I thought was my tax was actually my TAXABLE VALUE. So, oops.
But where do I find what I owe?
And, yes, I’m a moron.
jose,
Search the archives here under taxes(use the topics pulldown). Someone must have made a recomendation here in the past.
Thanks for the heads up. I’ve got two weeks before the appeal period ends.
Any recs for such a lawyer?
It’s definitely a 2-fam, not zoned commercial or anything else.
Assessment was 521k, and we paid significantly less. I thought it seemed like a lot…
Sounds way high to me, too. See past threads on tax certiorari — there are lawyers who do nothing but appeal assessments. They can tell you in a heartbeat whether there is something you can do. We are under $2k for a 2-fam in South Slope, and we are fairly typical. Your assessment could be way high, or perhaps DOF has it as a 4-unit bldg, or some other type of problem. Act fast though, there are deadlines for appeals.
Because I pay around $2,000 for a two family in Bed Stuy. Is it zoned for commercial as well?