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I want to see if I can grieve taxes. I know the assessment value. And I know the new york state equalization rate is 2.84%. How do I get the market value? I know its not the exact market value, but whatever the assessor believes the house is worth. I called the assesors office but they just guessed and didn't give me a formula. Thanks
I want to see if I can grieve taxes. I know the assessment value. And I know the new york state equalization rate is 2.84%. How do I get the market value? I know its not the exact market value, but whatever the assessor believes the house is worth. I called the assesors office but they just guessed and didn't give me a formula. Thanks
You don't use the equalization rate. You use something called the Residential Assessment Ratio (RAR). The RAR in White Plains is 2.25%.
Take your current assessment and divide it by 0.0225. That is what the assessor's purported market value is. If you think the purported market value is higher than your actual market value, you may have a case. I appraise real estate and I am familiar with the process.
You don't use the equalization rate. You use something called the Residential Assessment Ratio (RAR). The RAR in White Plains is 2.25%.
Take your current assessment and divide it by 0.0225. That is what the assessor's purported market value is. If you think the purported market value is higher than your actual market value, you may have a case. I appraise real estate and I am familiar with the process.
wow your a genius! Looks like my assessment should be going down almost 2000. Do you have any other advice? I just bought the home so I have an appraisal and contract of sale as evidence.
Another thing that I want to grieve is that the square footage on the property card is wrong. It adds square feet that doesn't exist. And some that is in an unfinished storage area. It's a 2 floor cape and where the floor height is too low, there is a wall enclosing the storage space. Thanks for your help!
wow your a genius! Looks like my assessment should be going down almost 2000. Do you have any other advice? I just bought the home so I have an appraisal and contract of sale as evidence.
Another thing that I want to grieve is that the square footage on the property card is wrong. It adds square feet that doesn't exist. And some that is in an unfinished storage area. It's a 2 floor cape and where the floor height is too low, there is a wall enclosing the storage space. Thanks for your help!
As I recall, the square footage is based on the house's footprint and then multiplied by the number of floors. We initally questioned the town assessment's square footage since our second floor is is about a third smaller than the first floor. But we were told that that was the formula--like it or not. Perhaps that is town by town?
As I recall, the square footage is based on the house's footprint and then multiplied by the number of floors. We initally questioned the town assessment's square footage since our second floor is is about a third smaller than the first floor. But we were told that that was the formula--like it or not. Perhaps that is town by town?
Actually that makes sense to what I am seeing. I'm amazed that it works like that, since it is a bit deceiving when you as a first time house buyer see a large square footage on the listing but the house is actually smaller. It didn't help that my realtor wasn't smart enough to tell me that when I questioned him about the square footage. I suppose the next time I'll know better. I'll still ask the assessor to make sure though.
wow your a genius! Looks like my assessment should be going down almost 2000. Do you have any other advice? I just bought the home so I have an appraisal and contract of sale as evidence.
Another thing that I want to grieve is that the square footage on the property card is wrong. It adds square feet that doesn't exist. And some that is in an unfinished storage area. It's a 2 floor cape and where the floor height is too low, there is a wall enclosing the storage space. Thanks for your help!
Hopefully, your appraisal is close in terms of square footage. With capes, five appraisers might come up with five different square footages.
I would not get to hung up on the property card. The current assessor and staff had nothing to do with drawing the sketch. If they have 2,000 square feet and you have 1,900 square feet, it doesn't make much of a difference. And there is no formal way to "grieve" the sketch.
You need to fill out a bunch of paperwork for your assessment grievence that is not understandable to the common man. The assessor's office should be able to help you.
You don't use the equalization rate. You use something called the Residential Assessment Ratio (RAR). The RAR in White Plains is 2.25%.
Take your current assessment and divide it by 0.0225. That is what the assessor's purported market value is. If you think the purported market value is higher than your actual market value, you may have a case. I appraise real estate and I am familiar with the process.
Where did you find that the White Plains RAR is 2.25%?
Is there a website that I can go to to see that information?
I don't see anything on the White Plains Tax Assessor web site about the RAR rate.
Thanks,
John
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