Grieving Taxes in Suffolk County (2011) (Huntington, Elwood: house, school districts, calculated)

[gramercynewyork]

Hi, I live in Huntington and I filed for grievance in May. My home was valued by assessor's office at around 640k and I purchased it in the low 500k. During the summer, I got a mail from the assessor's office that (my) "total assessment" was going to be reduced to around 4500 from 5000. This only saved me $800. Can this be right?? I noticed that the "tax rate per $100" went up to offset the reduction in the assessment. I thought I would be saving more.

Can someone explain this to me?

Thanks for all your help!

GNY

[Elke Mariotti]

Originally Posted by gramercynewyork

Hi, I live in Huntington and I filed for grievance in May. My home was valued by assessor's office at around 640k and I purchased it in the low 500k. During the summer, I got a mail from the assessor's office that (my) "total assessment" was going to be reduced to around 4500 from 5000. This only saved me $800. Can this be right?? I noticed that the "tax rate per $100" went up to offset the reduction in the assessment. I thought I would be saving more.

Can someone explain this to me?

Thanks for all your help!

GNY

In Huntington, the tax rate per $100 went up townwide, from .74 to .88 Depending on your school district, your STAR may have increased though (5 out of the 7 SDs have increased STAR amounts for 2011).

The assessor's office has gotten very stingy with their reductions, partly because of the huge number of grievances; many were even denied the first time around. However, since you didn't appeal (at least you didn't state that you did), you can grieve again this coming May. If you had appealed and won, you'd have to wait two years.
Keep in mind, they use the previous July's valuation as guideline with regard to the value of your property.

[michelabella]

5 of The 7 school districts have increased STAR! I wonder which ones?

[Elke Mariotti]

Originally Posted by michelabella

5 of The 7 school districts have increased STAR! I wonder which ones?

Here's a list of Basic STAR for 2011 in the Town of Huntington

#1 Elwood...............$1,094.92
#2 CSH..................$969.20
#3 Huntington...........$1,043.84
#4 Northport............$828.29
#5 Half Hollow Hills....$880.88
#6 Harborfields.........$1,080.41
#13 South Huntington....$1,088.76

[JonnyTrees]

From Town website:

Property Assessments are set at a percentage of "market value," which is defined as the most probable price which a property would sell for in a competitive and open market.
In order to convert a current assessment/assessed valuation of a home to its current indicated market value, divide that figure by the Town's 2010 Residential Assessment Ratio/RAR (.74%) as of July 1, 2009 (valuation date)
For example, using the Town's average home assessment of 4,100, the indicated market value is calculated to be $554,054 (4,100/.74%), as of July 1, 2009 (valuation date).

So the Huntington RAR went from 0.74 to 0.88, is that correct Elke?
If the 'total value' remains the same, the assessed value goes down.

[JonnyTrees]

So what factors into the success of a grievance, is it simply the assessed value and/or do neighbors property taxes play a role?

Just closed and was planning to grieve (never have before), now this 0.88 RAR is throwing a wrench in my plans. Our house was appraised at just over the new assessed value using 0.88, but well under if using 0.74
Most neighbors 'total values' are greater than our homes 'total value'.

Doesn't sound like a recipe for success. Any advice?

[chetstash]

If the .88 RAR for July 2010 valuation is accurate, it is going to virtually eliminate successful grievances this coming year, IMO. That is a high ratio but more in line with current property values.

[Elke Mariotti]

Originally Posted by chetstash

If the .88 RAR for July 2010 valuation is accurate, it is going to virtually eliminate successful grievances this coming year, IMO. That is a high ratio but more in line with current property values.

Based on what I've seen, it can actually be below current market values.
But I haven't looked at every property just sold/on the market yet and examined their new taxes

Looks like it'll make grieving more difficult for many. :-((

[I_Love_LI_but]

Originally Posted by gramercynewyork

Hi, I live in Huntington and I filed for grievance in May. My home was valued by assessor's office at around 640k and I purchased it in the low 500k. During the summer, I got a mail from the assessor's office that (my) "total assessment" was going to be reduced to around 4500 from 5000. This only saved me $800. Can this be right?? I noticed that the "tax rate per $100" went up to offset the reduction in the assessment. I thought I would be saving more.

Can someone explain this to me?

Thanks for all your help!

GNY

In short:

Heads they win, tails you lose.

They will set things up so they get the money they want out of you one way or another.

[gramercynewyork]

Thanks everyone. So I understand RAR, but I thought Star Exemption and grieving taxes were 2 separate things. It seemed that I only saved $880 from Star Exemption, even though my assessed value went down. Also, how is the tax rate per $100 derived?
Thanks,
GNY