What happens to transitional assessed values for property taxes after a change to C of O?

I am looking at a 3 family property that has property taxes currently calculated based upon a “transitional assesssed value” that is only 40 or 45% of the “assessed value” of the property.  Ideally, we’d like to change the configuration to make it into a 2 family and would make filings with DOB.  I already understand that  DOF jumps on any filings with DOB to revisit its market value determination, which leads to the calculation of the assessed value.  However, I can’t find a clear answer as to what happens to the transitional assesed value?  Does anyone know where to find a good answer? Thanks in advance.

Boerumresident

in Dept. of Buildings (DOB) 13 years and 7 months ago

2

Please log in, in order to post replies!

2 replies

Newest Oldest

vinca | 13 years and 6 months ago

string(1) "1"
object(WP_User)#4933 (8) {
  ["data"]=>
  object(stdClass)#4910 (12) {
    ["ID"]=>
    string(5) "13003"
    ["user_login"]=>
    string(5) "vinca"
    ["user_pass"]=>
    string(34) "$P$B7/fXRGe0Q0ToJkh4sBQGQv2r8uZYV0"
    ["user_nicename"]=>
    string(5) "vinca"
    ["user_email"]=>
    string(15) "vinca@ymail.com"
    ["user_url"]=>
    string(47) "http://bstoner.wpengine.com/forums/users/vinca/"
    ["user_registered"]=>
    string(19) "2017-08-10 14:15:46"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(5) "vinca"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(13003)
  ["caps"]=>
  array(2) {
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(2) {
    [0]=>
    string(10) "subscriber"
    [1]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(4) {
    ["read"]=>
    bool(true)
    ["level_0"]=>
    bool(true)
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

“Does anyone know where to find a good answer?” Consult an attorney who specializes in Tax Certiorari.

mjneuwirth | 13 years and 6 months ago

string(1) "1"
object(WP_User)#4932 (8) {
  ["data"]=>
  object(stdClass)#4931 (12) {
    ["ID"]=>
    string(6) "178288"
    ["user_login"]=>
    string(10) "mjneuwirth"
    ["user_pass"]=>
    string(34) "$P$Bfi5dUrPzBRmGOLghPIWBR.IGbWXJ70"
    ["user_nicename"]=>
    string(10) "mjneuwirth"
    ["user_email"]=>
    string(20) "mjneuwirth@gmail.com"
    ["user_url"]=>
    string(25) "/forums/users/mjneuwirth/"
    ["user_registered"]=>
    string(19) "2017-08-10 14:42:04"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(10) "mjneuwirth"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(178288)
  ["caps"]=>
  array(2) {
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(2) {
    [0]=>
    string(10) "subscriber"
    [1]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(4) {
    ["read"]=>
    bool(true)
    ["level_0"]=>
    bool(true)
    ["subscriber"]=>
    bool(true)
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

I tried to find this out because we are in the middle of the process now of converting the cert of occupancy from 3 to 2 apartments but were unable to.  we will undoubtedly find out within the next 12 months – sorry that’s of no use to you now.