Big jump in Assessed and Taxable Value for 2-family in Ocean Hill

We received our recent Notice of Property Value, and to our surprise we saw our Assessed Value and Taxable value jump from $ 10,119 to $ 19,374, while the Market Value stayed relatively stable, going up from $ 624,000 to $ 663,000.
Has anybody experienced a similar increase in Assessed and Taxable Value, while Market Value stays stable? I can’t figure out what the rational is behind this. Does it make sense to challenge the Department of Finance of this? Thankful for any thoughts or sharable experiences.

michaelsaur67

in General Discussion 8 years and 4 months ago

6

Please log in, in order to post replies!

6 replies

Newest Oldest

vngriwvly | 8 years and 4 months ago

string(1) "1"
object(WP_User)#4902 (8) {
  ["data"]=>
  object(stdClass)#4889 (12) {
    ["ID"]=>
    string(6) "209477"
    ["user_login"]=>
    string(9) "vngriwvly"
    ["user_pass"]=>
    string(34) "$P$Bp9kthpUdo4gSJARIBe80BDZe6A3UQ0"
    ["user_nicename"]=>
    string(9) "vngriwvly"
    ["user_email"]=>
    string(22) "scottmdunn82@gmail.com"
    ["user_url"]=>
    string(0) ""
    ["user_registered"]=>
    string(19) "2024-07-01 16:43:43"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(9) "vngriwvly"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(209477)
  ["caps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(1) {
    [0]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

Right, like I mentioned the increase to Taxable Value isn’t enormous. That increase would suggest a 5.5% increase in taxes year over year. I’m trying to understand, 1) is this something I should fight, 2) if so, is this something I CAN reasonably fight, and 3) what specific strategies are there for fighting it other than the good guy/gal discount. The details they have on the size and condition of the home are accurate. On a separate note, I am in BedStuy and was somehow expecting to have a much wider disparity between “real world” market value and what the city considers the market value. It’s not too far off.

chemosphere | 8 years and 4 months ago

string(1) "1"
object(WP_User)#4901 (8) {
  ["data"]=>
  object(stdClass)#4900 (12) {
    ["ID"]=>
    string(6) "180501"
    ["user_login"]=>
    string(11) "chemosphere"
    ["user_pass"]=>
    string(34) "$P$Bym7xqSisQdtaWFx8p2q7DWXNAtg0D/"
    ["user_nicename"]=>
    string(11) "chemosphere"
    ["user_email"]=>
    string(19) "jg@jacobgarchik.com"
    ["user_url"]=>
    string(0) ""
    ["user_registered"]=>
    string(19) "2017-08-10 14:09:44"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(11) "chemosphere"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(180501)
  ["caps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(1) {
    [0]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

This doesn’t necessarily mean that your taxes are going to have a huge jump.

vngriwvly | 8 years and 4 months ago

string(1) "1"
object(WP_User)#4896 (8) {
  ["data"]=>
  object(stdClass)#4903 (12) {
    ["ID"]=>
    string(6) "209477"
    ["user_login"]=>
    string(9) "vngriwvly"
    ["user_pass"]=>
    string(34) "$P$Bp9kthpUdo4gSJARIBe80BDZe6A3UQ0"
    ["user_nicename"]=>
    string(9) "vngriwvly"
    ["user_email"]=>
    string(22) "scottmdunn82@gmail.com"
    ["user_url"]=>
    string(0) ""
    ["user_registered"]=>
    string(19) "2024-07-01 16:43:43"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(9) "vngriwvly"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(209477)
  ["caps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(1) {
    [0]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

I would also like to get some further details on this, if anyone has any advice. I am in a similar situation to OP (bought home at end of last year, but we are doing Alt-1 permitting process now). Received the NOPV which reflects an 18.5% increase in my “market value” from last year to the upcoming year. It is not a HUGE change to the Taxable Value, but still seems significant and I am wondering if anyone has any advice for fighting this increase (other than, “I don’t want to pay this.” I don’t have an obvious excuse…). My deadline is March 15th to make this filing, so a bit behind the ball here…

utoeid | 8 years and 4 months ago

string(1) "1"
object(WP_User)#4902 (8) {
  ["data"]=>
  object(stdClass)#4904 (12) {
    ["ID"]=>
    string(5) "41138"
    ["user_login"]=>
    string(6) "utoeid"
    ["user_pass"]=>
    string(0) ""
    ["user_nicename"]=>
    string(8) "utoeid-2"
    ["user_email"]=>
    string(17) "utoeid1@yahoo.com"
    ["user_url"]=>
    string(24) "/forums/users/bklyngirl/"
    ["user_registered"]=>
    string(19) "2017-08-10 13:51:16"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(6) "utoeid"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(41138)
  ["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)
}

You can ask for a review but they are really strict and will only do it on a deadline they have. In other words if you refute what they estimated you have until April 29th (example date) to file and if they find in your favor they will only refund you as far back as a few months to a few years. Also make sure your building is filed accurately. Not a Rooming House, or house of worship or manufacturing. That may speak towards the hike.

michaelsaur67 | 8 years and 4 months ago

string(1) "1"
object(WP_User)#4903 (8) {
  ["data"]=>
  object(stdClass)#4901 (12) {
    ["ID"]=>
    string(6) "185202"
    ["user_login"]=>
    string(13) "michaelsaur67"
    ["user_pass"]=>
    string(34) "$P$BluET4xLRrYGzZiZ0FxE5O3Q.zFEPG0"
    ["user_nicename"]=>
    string(13) "michaelsaur67"
    ["user_email"]=>
    string(19) "saurorama@gmail.com"
    ["user_url"]=>
    string(0) ""
    ["user_registered"]=>
    string(19) "2017-08-10 13:56:20"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(13) "michaelsaur67"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(185202)
  ["caps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(1) {
    [0]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

Yes, we purchased the house recently and it was renovated prior to the purchase.

soundhoner | 8 years and 4 months ago

string(1) "1"
object(WP_User)#4896 (8) {
  ["data"]=>
  object(stdClass)#4905 (12) {
    ["ID"]=>
    string(6) "185056"
    ["user_login"]=>
    string(10) "soundhoner"
    ["user_pass"]=>
    string(34) "$P$B.MX0wo9RmF5R6Z7AhcVRbEkIHWysR0"
    ["user_nicename"]=>
    string(10) "soundhoner"
    ["user_email"]=>
    string(16) "okadat@gmail.com"
    ["user_url"]=>
    string(0) ""
    ["user_registered"]=>
    string(19) "2017-08-10 13:28:03"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(10) "soundhoner"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(185056)
  ["caps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["cap_key"]=>
  string(15) "wp_capabilities"
  ["roles"]=>
  array(1) {
    [0]=>
    string(15) "bbp_participant"
  }
  ["allcaps"]=>
  array(1) {
    ["bbp_participant"]=>
    bool(true)
  }
  ["filter"]=>
  NULL
  ["site_id":"WP_User":private]=>
  int(1)
}

Did you file any permits or do any work in the last year or two?