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I spoke to to another tax agency that came up with 568,235 as the value the town is evaluating my house. I don't know if this is a marketing tactic, but he said the FMV is an artificial number. As i concluding based off of my logic. He said the .25% level of assessment is based of old data. The level in the past years varies around .17% and .19%. Seems like i have more than enough to fill out the form myself. and i can easily justify my house value at 475k and their assessment of 568,235 is way off on a .17% level of assessment.
You can feel free to call them and have a free consultation. So you haven't received in the mail that your house is being accessed at XXXXXX? I received 2 that derived 568,235 with their calculations.
Hi cloakingknight, can you give me the company names (or phone numbers) of the companies you called? I'd like to call a few to ask what their opinion is. Thank you.
No reasoning, solely going by what the tax agency given me. Logic is: if they are going to full out the form this way, why cant i do it and save 40% of the winnings. I'll try to call them back to challenge if that's what they are actually doing. But most likely they wont spill it.
Have you received any letter in the mail stating that you are over paying and the town is assessing your house at XXXXXXX?
I'm waiting for the town of hempstead to host a meeting to show how to grieve your own taxes. I sat thru the exemption class and they said they have it every year.
Great information Cloak! I always wonder how those tax agencies come up with the higher FMV. I will give your method a try. Thanks.
Just want to chime in here, because I have done my grievance myself for the last 3 Years. My Assessment is not incorrect in terms of Sale price of dwelling, however it is wrong in terms of comparative assessed value of my neighbors. Form AR3 is what I believe you need to use.
Have you wont in the last 3 years? why have you resisted from giving this job to a tax reduction agency? Do you have any prior knowledge from a tax reduction class or have someone told you about the AR3 form? Is your situation similar to mine?
Sorry if im coming on too strong, i just want to get to the bottom of this.
AR3. Is the following you selected for part Part C: "Explanation of Claim and Description of Property"
The assessment is unequal in relation to its market value and correct level of assessment for its tax class
How did you fill out part D on the AR3 form? The AR3 form does not require you to select comps to support the correct level of assessment.
Part D: Taxpayer's Estimated Value and Calculation of Requested Assessment
*ONLY FILL OUT IF YOU ARE ALSO REQUESTING A REVIEW OF THE VALUE OF THE PROPERTY
Complete column 2 if part of property is eligible for exemption 1. Property as a whole 2. Taxable portion
a. Tentative assessment (optional)
b. Applicant's estimate of full market value
c. Correct level of assessment
d. Requested assessment (line b * c)
e. Evidence/Explanation of level of assessment (optional)
Thanks for the support. Started this form to seek answers, but unfortunately all the answers/strategies are in the hands of the tax reduction agency.
This is what i think happens begin the scenes.
Starts with town assessment:
fair market value: 386,400
level of assessment: .25%
assessed value: 966
Request correction with the help of comps:
market value: 460,000
level of assessment: .17%
assessed value: 782
Town Settlement
market value: 475,000
level of assessment: .19%
assessed value: 903
Town will try to keep the standard level of assessment hence changing the FMV:
Town Settlement
fair market value: 361,200
level of assessment: .25%
assessed value: 903
Not sure if this is how it's done. Just started with curiosity from a letter i received from a couple of agency.
Have you wont in the last 3 years? why have you resisted from giving this job to a tax reduction agency? Do you have any prior knowledge from a tax reduction class or have someone told you about the AR3 form? Is your situation similar to mine?
Sorry if im coming on too strong, i just want to get to the bottom of this.
AR3. Is the following you selected for part Part C: "Explanation of Claim and Description of Property"
The assessment is unequal in relation to its market value and correct level of assessment for its tax class
How did you fill out part D on the AR3 form? The AR3 form does not require you to select comps to support the correct level of assessment.
Part D: Taxpayer's Estimated Value and Calculation of Requested Assessment
*ONLY FILL OUT IF YOU ARE ALSO REQUESTING A REVIEW OF THE VALUE OF THE PROPERTY
Complete column 2 if part of property is eligible for exemption 1. Property as a whole 2. Taxable portion
a. Tentative assessment (optional)
b. Applicant's estimate of full market value
c. Correct level of assessment
d. Requested assessment (line b * c)
e. Evidence/Explanation of level of assessment (optional)
No Worries Cloaking.... I have won a reduction every year so far. I went to one of these tax grievance forums that the county holds and that is where I learned about form AR3. I do not see the point in paying someone 40-50% of my tax decrease for doing something that I can do in 30 minutes (Literally). There is no where to select comps, however I just write a nice letter, put the comps in it and attach it to the grievance. There is a place to attach files. You can include anything (and you should). Pictures etc.... anything to justify your case.
Fill it out as you would.. what you feel your property is worth.... Then go ahead and write up a doc with comps from their tool or from the assessors site... Thats about it... I am not saying that you will win, and maybe for certain people it is easier for them to go through a firm that does it... You could also find out when the next class is being held, and ask whatever questions you have.... It really didnt take much time and I didnt stay for the entire thing.
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