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What's even more sneaky is that Nassau county home owners pay taxes a few years ahead, so that means when you get your assessments lowered, the county doesn't need to pay interest on back payments. How about that!
My understanding is that property taxes are concurrent, not prospective; and, lowering your assessment only affects your future property tax payments, not your past property tax payments.
My wife used to do RE tax law as an attorney, and from my limited understanding from her is that you can do both... 1) Go to court with the county to get back taxes from an "over" assessment of your property. 2) Get an assetment for future payments. From what I understand, most RE attorneys go for both, since the first will ultimately impact the second.
I am sure I missed something, but that's the gist of it. I will edit this post if my wife says I am wrong.
It's seems as the BASIC STAR exception is really a form of state aid that the homeowners have to submit on behalf of the school district. Kind of a weird way of suckering lazy home owners of paying more RE taxes. Much like coupons at the grocery store.
Quote:
Originally Posted by Walter Greenspan
My understanding is that property taxes are concurrent, not prospective; and, lowering your assessment only affects your future property tax payments, not your past property tax payments.
1) Find car.
2) Spread legs to just wider then shoulders.
3) Pull pants down.
4) Bend over hood.
5) Take it. And minimally 3% more every year thereafter.
1) Find car.
2) Spread legs to just wider then shoulders.
3) Pull pants down.
4) Bend over hood.
5) Take it. And minimally 3% more every year thereafter.
Apparently, I didn't listen carefully enough. My wife told me:
"you can't get back taxes from previous tax years unless you filed a petition for that previous year. so if you filed a petition for the 2008/09 tax year and the court today determines that your 2008/09 assessment was more than it should have been, you can get a refund of the taxes that you paid for the 08/09 tax year. but if you didn't file a petition for the 08/09 tax year (which you would have needed to do by March 2008), you can't get a refund for taxes paid that year, no matter how overassessed it was. that's why in new york, it never hurts to file the petition unless your assessment is super low."
She noted the example she pointed out was for NYC only... but that Nassau county was similar but not with the timing of the assessments. Nassau county brings out assessments for a few years out to their advantage.
Quote:
Originally Posted by jshlee
My wife used to do RE tax law as an attorney, and from my limited understanding from her is that you can do both... 1) Go to court with the county to get back taxes from an "over" assessment of your property. 2) Get an assetment for future payments. From what I understand, most RE attorneys go for both, since the first will ultimately impact the second.
I am sure I missed something, but that's the gist of it. I will edit this post if my wife says I am wrong.
It's seems as the BASIC STAR exception is really a form of state aid that the homeowners have to submit on behalf of the school district. Kind of a weird way of suckering lazy home owners of paying more RE taxes. Much like coupons at the grocery store.
Walter was very technical, so I will try to be more simplistic.
Basically your tax bill has three or four main parts. County, town, school, and village if you happen to live in an incorporated village. Each provide certain services (in the case of an incorporated village some of the services that would otherwise be provided by the town or county are provided by the village instead) and you pay taxes based on those services.
Each jurisdiction comes up with a budget every year, and the amount of taxes that are collected is determined by that budget. Based off what the budget calls for and how your home value compares to the other values in that taxing jurisdiction will determine what your taxes are.
Also as has been mentioned roughly 2/3 of the taxes go to the schools, and the school tax rate can vary rather drastically by school district.
As you can see, the tax empire on LI is highly complex, just as the politicians wanted it. The question is, do you really get what you pay for? Are your services and school system so superior to all those other regions in the US where the taxes are much lower? I was once in the same place as you. I was in disbelief when I was looking for a house via the internet. My family moved here due to a job transfer. I do believe that LI is a beautiful place, with good schools and low crime. However is $500 to $1000 per month a reasonable price to pay for that? Eventually, there will be no more tax base, then the tide will have to turn, but who knows when. Other suggestions about the eastern end of LI, such as Jamesport, Mattituck, Laurel are all vey nice, quaint towns. Good luck.
Usually by school district and location and home size. Taxes here are a nightmare. I will soon be paying close to 45K for taxes. Which is so ridiculous.
Usually by school district and location and home size. Taxes here are a nightmare. I will soon be paying close to 45K for taxes. Which is so ridiculous.
No disrespect, but I don't think anyone feels all that bad for what someone in a multi million $$ home is paying in taxes.
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