Will Oil to Gas Conversion and New Boiler Effect Property Tax Assessment?

I wouldn’t worry about a $20K improvement. Worry about you doing nothing and the City ups your assessment by $250K. Happens all the time in our land of gentrification.

shahnandersen

in Taxes 11 years and 3 months ago

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nintzk86 | 11 years and 3 months ago

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I am planning on converting from oil to gas and changing my boiler, which will also require relining the chimney. I am estimating the cost will be around $20K. Will this impact my property tax assessment? If so, how? More generally, what jobs trigger increases in assessment value? I have reviewed some Brownstoner posts and it seems that only major renovation work and changing the occupancy result in substantial property tax increases. One poster said he upgraded his electrical and did not see a change. Is there a Finance Department publication or any other literature on this subject? Thanks