Assessed value (taxes after renovation)

It´s an SRO to 3 family conversion, and from what I read that´s the worst. Probably because in that constellation nothing counts as ‘existing’ Taxes before were 5k – if it´s going to quadruple it would be more than shocking. The house was empty for 10 years – and the reward for making the block safer is that you end up paying 6 times as much as your neighbour who had all work done under the radar by unlicensed contractors? No way…

Augustiner

in Taxes 11 years and 9 months ago

4

Please log in, in order to post replies!

4 replies

Newest Oldest

Augustiner | 11 years and 9 months ago

string(1) "1"
object(WP_User)#4958 (8) {
  ["data"]=>
  object(stdClass)#4905 (12) {
    ["ID"]=>
    string(5) "45573"
    ["user_login"]=>
    string(10) "Augustiner"
    ["user_pass"]=>
    string(34) "$P$B34SD8yEA6Hi8EPJJfH83mCf4GZmmP0"
    ["user_nicename"]=>
    string(10) "augustiner"
    ["user_email"]=>
    string(18) "flo@flat-peach.com"
    ["user_url"]=>
    string(32) "http:///forums/users/augustiner/"
    ["user_registered"]=>
    string(19) "2017-08-10 13:35:10"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(6) "August"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(45573)
  ["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)
}

How did your Assessed Value change after finishing the renovation? Did they just add the budget that was filed with the DOB permits and claim that this is the value added the home? My epic renovation will be finished soon and I have no idea what to expect.

bklynpwds | 11 years and 9 months ago

string(1) "1"
object(WP_User)#4957 (8) {
  ["data"]=>
  object(stdClass)#4956 (12) {
    ["ID"]=>
    string(6) "177016"
    ["user_login"]=>
    string(9) "bklynpwds"
    ["user_pass"]=>
    string(34) "$P$BaLflv1/pnijSTmW34TD1EixxbEY5O0"
    ["user_nicename"]=>
    string(9) "bklynpwds"
    ["user_email"]=>
    string(17) "camrute@yahoo.com"
    ["user_url"]=>
    string(31) "http:///forums/users/bklynpwds/"
    ["user_registered"]=>
    string(19) "2017-08-10 14:25:55"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(9) "bklynpwds"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(177016)
  ["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)
}

The new assessed value can go up by more than just the cost of your renovation as long as it is consistent with the valuations in the area, I believe. We just finished a 3 floor gut renovation and our taxes quadrupled. It was a shock to say the least. We checked with an attorney that deals with these kinds of issues and were told we had no case.

deanbh | 11 years and 9 months ago

string(1) "1"
object(WP_User)#4905 (8) {
  ["data"]=>
  object(stdClass)#4953 (12) {
    ["ID"]=>
    string(5) "58589"
    ["user_login"]=>
    string(6) "deanbh"
    ["user_pass"]=>
    string(34) "$P$BFqLWIiGK/ir9Rk2VowKBnNIljQNp.0"
    ["user_nicename"]=>
    string(6) "deanbh"
    ["user_email"]=>
    string(17) "ml5@cognation.net"
    ["user_url"]=>
    string(26) "http:///www.collins.net.pr"
    ["user_registered"]=>
    string(19) "2010-07-04 01:21:41"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(6) "deanbh"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(58589)
  ["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)
}

Along the same lines, we’ve had a combination in our brownstone and its gone from 8 units to 6, is it likely that we will get tax reduction….or because the square footage stayed the same….not a chance.

dnk | 11 years and 9 months ago

string(1) "1"
object(WP_User)#4958 (8) {
  ["data"]=>
  object(stdClass)#4959 (12) {
    ["ID"]=>
    string(5) "46107"
    ["user_login"]=>
    string(3) "dnk"
    ["user_pass"]=>
    string(34) "$P$Bc/fuQ6M6AurKgSr2TPjNRasEkYaWi1"
    ["user_nicename"]=>
    string(3) "dnk"
    ["user_email"]=>
    string(28) "dkeegan@laskerfoundation.org"
    ["user_url"]=>
    string(18) "/forums/users/dnk/"
    ["user_registered"]=>
    string(19) "2017-08-10 13:36:02"
    ["user_activation_key"]=>
    string(0) ""
    ["user_status"]=>
    string(1) "0"
    ["display_name"]=>
    string(3) "dnk"
    ["spam"]=>
    string(1) "0"
    ["deleted"]=>
    string(1) "0"
  }
  ["ID"]=>
  int(46107)
  ["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)
}

August, I asked the same question several months ago and got a few answers. New tax assessment hasn’t come in yet, so I don’t know what the damage is. Good luck to you. http://brownstoner.staging.wpengine.com/forums/topic/the-taxman-cometh-lo-and-he-bringeth-a-digital-camera/