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Is it really that simple? You look on AROW, pick 3-4 reasonably close comps with recent sales and then multiply the average sale price by 80% and then use the .17 multiplier to get your assessed value?
I suppose I'm just confused as to where the 80% comes from.
Nassau has not reassessed homes in like four to five years. So when they last did it your house was assessed at full market value supposedly.
But everyone who grieves gets 4-5% off every year pretty much. So for someone who have never grieved in last four years your house is overassessed by 20%, by next year when they give another 4-5% break you will be at even more.
Nassau has not reassessed homes in like four to five years. So when they last did it your house was assessed at full market value supposedly.
But everyone who grieves gets 4-5% off every year pretty much. So for someone who have never grieved in last four years your house is overassessed by 20%, by next year when they give another 4-5% break you will be at even more.
But if you grieved each year for the past 4 years, you would not use the 20% multiplier?
You would use it on the comps, remember they were sold at market value. Assessed value should be 80% of market
And what about for the section regarding construction and alteration?
Obviously an increase to square footage or footprint would count, but replacing or moving plumbing and replacing old electric requires a permit, as does raising a ceiling, but would these be "contruction" or "alteration" for the purposes of the AR1?
What should i put for Part B:
Owner's Estimate of Full Market Value (must be completed)
I believe the market value of the property is 475,000.
and part E:
a. Tentative assessment (optional) 996
b. Applicant's estimate of full market value (from Part B) 475,000
c. Correct level of assessment .00017
d. Requested assessment (line b * c) 808
e. Evidence/Explanation of level of assessment (optional)
Owner's estimate I would put it at what the others assessed at which you referenced... 320 or 340 or close. I recall putting my estimate request in the 400s when I was worth 500+ on the market and my FMV I was grieving was in the 500s.
Evidence - I would explain the others' assessment values and how your home compares to those (style, sqft, age, condition, # of rooms).
What should i put for Part B:
Owner's Estimate of Full Market Value (must be completed)
I believe the market value of the property is 475,000.
and part E:
a. Tentative assessment (optional) 996
b. Applicant's estimate of full market value (from Part B) 475,000
c. Correct level of assessment .00017
d. Requested assessment (line b * c) 808
e. Evidence/Explanation of level of assessment (optional)
Where did you get the .00017 for correct level of assessment?
Standard level of assessment in Nassau Co is .25% or .0025. That's why I asked.
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