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Here's an excerpt from this ridiculously left-leaning, biased article about the assessments in Newsday. This pathetic rag is crowing how this is 100% fair in the first part of the article, because 4 assessors said so (no data, just opinion because they've messed up other assessments 300 times previously), but then goes on to say that by the paper's own calculation "1 in 6" properties are over-assessed. ONLY in government work would a 17% failure rate be called 'successful'. Pitiful.
"Nonetheless, what an assessment expert sees as a great result may vary from what Nassau homeowners with tax bills often exceeding $10,000 per year might think. Because of the impossibility of knowing exactly what all homes will sell for months down the line, it is impossible for assessors to come close to valuing every property perfectly. The Newsday study found the county’s assessments are off by plus or minus 8.8 percent on average, using an industry standard accuracy measure. This was a result the experts uniformly said was about as good as it gets.
But being on the high side of that error rate could cost homeowners hundreds of dollars on their tax bill. For that reason, concerns over the reassessment have focused on over-assessed homes. Newsday estimates about 1 in 6 are over-assessed by more than 10 percent. However, Newsday also found about as many under-assessed by that amount."
I'm making it my mission to make the county spend more money defending my eventual laswuit against my grievance if I'm unsuccessful than the increase in taxes they'll receive from my 5-yr phase in on my increase. If everyone does that then NIFA will make Curran cut out a wasteful program or two eventually to balance the budget in the future.
I wonder how much Thomas Caputo's taxes changed from this reassessment...
Are you currently over-assessed now? Were you before the reassessment? What is your grievance history? And most important, is your current assessment, after the reassessment, a number you can HONESTLY sell your house for?
Here's an excerpt from this ridiculously left-leaning, biased article about the assessments in Newsday. This pathetic rag is crowing how this is 100% fair in the first part of the article, because 4 assessors said so (no data, just opinion because they've messed up other assessments 300 times previously), but then goes on to say that by the paper's own calculation "1 in 6" properties are over-assessed. ONLY in government work would a 17% failure rate be called 'successful'. Pitiful.
"Nonetheless, what an assessment expert sees as a great result may vary from what Nassau homeowners with tax bills often exceeding $10,000 per year might think. Because of the impossibility of knowing exactly what all homes will sell for months down the line, it is impossible for assessors to come close to valuing every property perfectly. The Newsday study found the county’s assessments are off by plus or minus 8.8 percent on average, using an industry standard accuracy measure. This was a result the experts uniformly said was about as good as it gets.
But being on the high side of that error rate could cost homeowners hundreds of dollars on their tax bill. For that reason, concerns over the reassessment have focused on over-assessed homes. Newsday estimates about 1 in 6 are over-assessed by more than 10 percent. However, Newsday also found about as many under-assessed by that amount."
I'm making it my mission to make the county spend more money defending my eventual laswuit against my grievance if I'm unsuccessful than the increase in taxes they'll receive from my 5-yr phase in on my increase. If everyone does that then NIFA will make Curran cut out a wasteful program or two eventually to balance the budget in the future.
I wonder how much Thomas Caputo's taxes changed from this reassessment...
It's designed to help out the folks that are too stupid to grieve their taxes. Not rocket science here.
The whole assessment system is such a clusterbleep. Thousands upon thousands of municipalities out there with functional and working systems you'd think Nassau could get it right.
Are you currently over-assessed now? Were you before the reassessment? What is your grievance history? And most important, is your current assessment, after the reassessment, a number you can HONESTLY sell your house for?
I’m not over assessed prior to the new one because I grieved, like anyone with half a brain would do. But I certainly can’t sell my house for the amount at which they re-assessed it. My assessment is effectively a new tax I’m paying directly to my neighbors. A brand new construction, slightly smaller than my home on a slightly smaller lot two houses down from me sold for 23% less than my new assessed value last yr- my house is 10 yrs older. I’m not looking to sell but if/when I do I would LOVE to sell my house for the amount they say it’s worth. It’s absurd. If the new assessment is correct then I’ve realized a 30% increase in my appraised value since I refinanced my mortgage 6 yrs ago. Did housing prices go up 30% in Nassau in 6 yrs? Hell no.
I have been following the assessment process since we bought our house 3 years ago.
The assessment goes according to selling price, not appraisals. Size of house and lot size are a huge factor in determining values. You didn’t mention if there were others differences between you and your neighbor such as baths, decks, pools, finished basement, etc.
I am tired of hearing people complain that now they need to pay their fair share. Instead of just comparing to 1 neighbor look at other comparables in your area and you will see how much houses are selling for.
Yes houses did go up a lot, not sure about how much but 20-30% sounds right. Low inventory and high demand.
Redistributing wealth under the guise of a ‘fairness’ issue versus saying outright that the sole purpose is to redistribute money from higher property values and give it to impoverished people is insulting. If Newsday wants to be honest, they should do an analysis that stratifies the property values and what % of those at the top levels above the median home value are paying more, and how much more - I’d bet anything it’s a disproportionate amount. This is nothing more than a soak the rich program. The more expensive your home the more you pay. I’d rather they just tell me “your taxes are going up because people with less can’t afford to live on LI because we have no clue how to make and keep to a budget. Oh, and we can’t control fraud at the LIRR, which find new ways to steal money with every new contract renewal.” Actually, that wouldn’t make me feel better because it would confirm what everyone already knows. I’m so tired of people like you to telling me to shut up, bend over, and just accept it because you can afford it. Read Atlas Shrugged.
LIRR contracts are determined by the Nassau County Executive? So many conspiracy theories out there, you just never know. It is shocking though, the fact that more expensive homes pay higher taxes, SHOCKING!!
I have been following the assessment process since we bought our house 3 years ago.
The assessment goes according to selling price, not appraisals. Size of house and lot size are a huge factor in determining values. You didn’t mention if there were others differences between you and your neighbor such as baths, decks, pools, finished basement, etc.
I am tired of hearing people complain that now they need to pay their fair share. Instead of just comparing to 1 neighbor look at other comparables in your area and you will see how much houses are selling for.
Yes houses did go up a lot, not sure about how much but 20-30% sounds right. Low inventory and high demand.
Unfortunately the new assessment is NOT based on comp sales (what you called "selling price"), it is now based on some mystery algorithm the vendor they hired uses. The lawsuits have already begun as Nassau will not say how it's getting values. I showed 12 lower comps than my house and still got no reduction. I couldn't sell for $50k less than the new assessment.
They also skirted the 6%yr/20% 5yr law which is WRITTEN directly on our assessment. Just because the system was broken (ie, some were too stupid to challenge or even open the mail from the dozen tax grievance firms that litter LI), there is still plenty of shenanigans and LACK of transparency going on.
That said, the repubs like Clavin whining is a total election year joke. They have some nerve complaining after presiding over this mess for so long and doing NOTHING!
The mess continues but fact is the LAW says no increase over 5% year or 20% over 5 years. They totally scammed their way around that. I hope (and suspect) they tie the whole thing up in court and throw out the new values. Wouldn't be the first time (maybe the 1000th) that NC threw away money on consultants. Remember the $60m school zone speed cams? Never trust NC when there is a budget shortfall. Endless money to spend on consultants and attorneys to find new ways to fleece the taxpayer. If they can't find one, they borrow money...ie fleece the taxpayer on the lay away plan.
Last edited by monstermagnet; 05-02-2019 at 08:47 AM..
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