Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The FMV listed for my house on MyNassauProperty is less than I paid for the house and less than any reasonable comp. However, my tax reduction guy insists with certainty that it's assessed way too high. How are they arriving at this? An uninformed person looking at the property viewer would think I'm stuck at my assessment.
Let's do this with real numbers: FMV is $358,000. I paid $391,000. Tax agency says the county is really valuing the house at over $500k. How do they get at this?
How does an individual do their own appeal in this situation?
Well a 500k house would be a FMV of around 400K if they grieve regularly.
A 400K house would be a FMV of around $320K if they grieve regularly.
At a purchase price of 391k and a FMV of $358k you are over taxed.
Right now my buddy bought a small house at 290K and was assessed at 255K he grieved and won at 208K FMV.
Just use the tax reduction guy if you want better paying him half then get nothing.
Well a 500k house would be a FMV of around 400K if they grieve regularly.
A 400K house would be a FMV of around $320K if they grieve regularly.
At a purchase price of 391k and a FMV of $358k you are over taxed.
Right now my buddy bought a small house at 290K and was assessed at 255K he grieved and won at 208K FMV.
Just use the tax reduction guy if you want better paying him half then get nothing.
Already using him, and negotiated for 1/3, but would prefer to do it myself going forward if I can. So, I would just show comps of similar houses sold for $391,000 and less?
Already using him, and negotiated for 1/3, but would prefer to do it myself going forward if I can. So, I would just show comps of similar houses sold for $391,000 and less?
\
Show comps less than assessed value only. I would shoot for homes sold between 300k and 350K.
then take purchase price and subtract 20% to be new FMW called equalization rate.
I asked this question in a separate thread but no one answered, and you guys seem tho know what you are talking about.
I bought a house in Nassau co this year for just over 1 mil. The FMV has been assessed 600k since 2009 all the way until 2018. So i should not bother to grieve since its already grossly underassessed? Or should i just grieve anyway since that's the standard practice?
I asked this question in a separate thread but no one answered, and you guys seem tho know what you are talking about.
I bought a house in Nassau co this year for just over 1 mil. The FMV has been assessed 600k since 2009 all the way until 2018. So i should not bother to grieve since its already grossly underassessed? Or should i just grieve anyway since that's the standard practice?
I've never grieved, but reading about it seems you need to provide comps.
All the comparable houses in my block are in the million dollar range... how do I justify lowering already low FMV (600k) even more if all the comps are in the 1 mil range? Or does just filing a grievance give you an automatic discount (sort of like contesting a NYC parking ticket and taking the automatic fine reduction)?
I've never grieved, but reading about it seems you need to provide comps.
All the comparable houses in my block are in the million dollar range... how do I justify lowering already low FMV (600k) even more if all the comps are in the 1 mil range? Or does just filing a grievance give you an automatic discount (sort of like contesting a NYC parking ticket and taking the automatic fine reduction)?
I think the automatic fine reduction has been eliminated, actually.
I've never grieved, but reading about it seems you need to provide comps.
All the comparable houses in my block are in the million dollar range... how do I justify lowering already low FMV (600k) even more if all the comps are in the 1 mil range? Or does just filing a grievance give you an automatic discount (sort of like contesting a NYC parking ticket and taking the automatic fine reduction)?
Not only can you not comp to anything, there's no property you're finding that's at a lower assessed value... so you can't explain/argue for anything.
Thanks for clarifying it Ovi8... everyone is saying to "just grieve, nothing to lose", but in my situation my FMV is so grossly underasessed grieving doesn't make sense. Seems like the previous home owner did a good job grieving already until 2018.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
