Property Taxes and finished square footage

Go to the free city-sponsored RE Tax workshop on Feb. 10th at 6 pm at 209 Joralemon St. – Municipal Bldg.

Arkady

in Roofers 9 years and 5 months ago

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gates_ave | 9 years and 5 months ago

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I live in a rowhouse, with two apartments, and a basement, each 1100, so total of 3300\. My question is why the dept of finance lists the basement as finished space? It seems normal to all rowhouses in the block, but many basements are not finished, or finished without permits. Part of my basement is semifinished, prior owner did some sheetroock, laundry hookup, electric outlets. Shower / toilet (no sink), bad cement. No permits that I see in the dob Web page. So basement is included as finished space in tax financial e property info. Does it mean I’m paying extra tax $ for the space, which is not really usable for living? We just use for laundry and storage. My guess is that it increases the property value and thus my taxes. I’ve been thinking about challenging the valuation based on this fact. Is it a bad idea?

gates_ave | 9 years and 5 months ago

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Btw the change in “market value” for the upcoming tax year is up by 186k, the most I’ve seen. My taxes has almost double in less than 10 years, so I’m trying to understand what’s going on. Low taxes is atractive to me, but im feeling we are aproaching long island taxes for the affordable areas with beter school districs. Two houses in the adjacent blocks sold for close to the increased value, but one has a garage/parking space and the other was renovated more recently with permits.