If a Home is Sold Cheap, Do Property Taxes Go Down?

[I_Love_LI_but]

Originally Posted by mcmsinger

Talk about corruption and greed.

Something really needs to be done.

It's all legal. It's in the contract.

Just like it was legal for the Roslyn school district THIEF to keep his $176K or so pension even though he stole millions from the school district. I guess there is a part in his contract that said, "You may commit as much crime as you like against us, your employer, and your pension is untouchable. Even if you are in jail and the taxpayers are paying your daily living expenses, you will still get your full pension."

[Giznot]

Originally Posted by I_Love_LI_but

For those recommending grievance ...

what is the average percentage property taxes actually go down after grieving?

Anyone I knew who did it successfully barely saved anything (1-5%) and if they used a grievance service had to give half of what they saved the first year to the service.

Then the County reassessed them and raised their property taxes to a higher level than what they grieved.

When you grieve them no one goes to your house and reassess you. Only when you grieve your taxes and state that you no longer have a pool or shed or deck etc...

[I_Love_LI_but]

Originally Posted by Giznot

When you grieve them no one goes to your house and reassess you. Only when you grieve your taxes and state that you no longer have a pool or shed or deck etc...

It's not an individual thing they do for everyone who ever grieved; it's when they reassess across the board. Then the savings from the grievance goes up in smoke mainly because the tax rate has been raised.

[nassau2suffolk]

Nothing is automatic. If you are already over assessed then the purchase price may help with your case. My home was already in the grievance process when we bought it for well under the assessed value. We won a $2500 reduction in our taxes. That being said, with all the grievances being won you can expect your rate to go up which will slightly raise your new tax bill.

Originally Posted by I_Love_LI_but

It's all legal. It's in the contract.

Just like it was legal for the Roslyn school district THIEF to keep his $176K or so pension even though he stole millions from the school district. I guess there is a part in his contract that said, "You may commit as much crime as you like against us, your employer, and your pension is untouchable. Even if you are in jail and the taxpayers are paying your daily living expenses, you will still get your full pension."

... I've said it before, and I'll say it again- I think Frank Tassone getting to keep his pension is absolutely digusting.

That's beyond his contract though- that's part of NYS Labor Law. Awful.

[LUVTOFLY]

We live is Southold town we fought our taxes thru the town assessor and was reduced from 11,400.00 down to 8700.00. great right, no every year they go back up. we fought them because we found out they had our house assessed at over 1 million dollars , we have NEVER had an apprasial for our house over 685,000!! it's on one acre, they have gotten them selves in a mess with the overpaid teachers and police, etc and you get nothing for what you pay in taxes, oh, sorry they pick up leaves and brush twice a year!! and you have to pay for a dump sticker and the bags your garbage goes in. the taxes are probably the biggest driving force to sell and go. yes it is beautiful but its becoming just too unaffordable for us anyway. I've had people say "oh, you live in Southold, don't you love it out there" I say yes if I and my wife didn't have to work six days a week and two jobs maybe we could enjoy the beach or parks, woops, forgot most are closed, lol ridiculous Go Patterson, who need ringling brothers, we have a year long circus in Albany

[I_Love_LI_but]

Originally Posted by LUVTOFLY

We live is Southold town we fought our taxes thru the town assessor and was reduced from 11,400.00 down to 8700.00. great right, no every year they go back up. we fought them because we found out they had our house assessed at over 1 million dollars , we have NEVER had an apprasial for our house over 685,000!! it's on one acre, they have gotten them selves in a mess with the overpaid teachers and police, etc and you get nothing for what you pay in taxes, oh, sorry they pick up leaves and brush twice a year!! and you have to pay for a dump sticker and the bags your garbage goes in. the taxes are probably the biggest driving force to sell and go. yes it is beautiful but its becoming just too unaffordable for us anyway. I've had people say "oh, you live in Southold, don't you love it out there" I say yes if I and my wife didn't have to work six days a week and two jobs maybe we could enjoy the beach or parks, woops, forgot most are closed, lol ridiculous Go Patterson, who need ringling brothers, we have a year long circus in Albany

Thank you for a real world example!

[darrylg]

I just had a similar experience in the town of brookhaven. I purchased a dilapidated foreclosure for $375k, and the assessed value was ~$990k. In April, the tax assessor allows time to meet for an informal tax review, so you can perhaps agree on an assessed value without going through the grieving process. I met with him, and showed pictures of the house and its poor condition. He sent out an appraiser to look at the house, and I was granted the assessed value at $375k, temporarily due to condition.
Normally they will accept the purchase price as the assessed value, during this informal review process, if it is an "arms length sale". Since my case was a foreclosure in poor condition, they had to send an appraiser.

[aimless35]

We just bought a home in March in a normal arms length sale. The bank appraisal was for 30% less than what the tax assessor said it was worth. We tried the informal approach and they lowered our assessment by a few $1,000. They should have lowered the assessment by over $200,000 to be in line with what the appraiser said the house is worth.