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Curran gets cute by changing the assessed value level from .25% to .10%! Therefore Nassau County can now disregard NYS law that limits yearly assessment increases to 6% and the five year increases 20%(max)!
Curran gets cute by changing the assessed value level from .25% to .10%! Therefore Nassau County can now disregard NYS law that limits yearly assessment increases to 6% and the five year increases 20%(max)!
Have to see more details of the plan to see how it winds up rolling out, however the current system is absolutely completely broken beyond repair and any fix is going to be painful.
Town of Oyster Bay Supervisor Joe Saladino lives in a bayfront home in the Nassau Shores he purchased for $740,000 in 2003, the current assessed value is $456,000....
Who do you think is paying for the fact that a home now likely worth $1,000,000 + is assessed in the 450's?
We really need to GTFO of Dodge. When taxes suddenly go up by a large magnitude, who would want our property anymore? We're left holding the bag. It's not like they can adjust them down to help us even if they wanted to. < 10 years can't come soon enough. Time for my family to break this cycle for ourselves.
I dont understand why property taxes are higher for a more expensive house anyway. taxes should be based on location only.
lot size & location of lot.
why should the town collect more or less based on what people put on their land.
Because that is New York State Real Property tax law. This is not a Nassau County phenomenon. According to state law a residential property's assessed value should be based solely on what it would sell for today. If your home would sell for $500K and mine brings $1 million, then my assessment should be exactly double yours. To implement what you suggest would require a complete overhaul of legislation for all NYS.
If assessments were kept up to date there would be very few successful grievances. Nassau's problem is they never properly reassess. You never see such high success rates of grievance in Suffolk. And it has nothing to do with the the towns doing the assessing versus the County, Nassau just does a pizz poor job, or more likely no job at all.
The reason for this situation: it's my belief that reassessment in Nassau became a dirty word with homeowners misunderstanding, and incumbent politicians, fearing the fallout when running for reelection next time around, have been doing nothing for years.
Well, the chickens eventually will come home to roost (probably a court case like in Southampton 25 years ago) and maybe something will be made right or at least better. The grievances are not the problem, they are merely the symptom of the greater underlying deterioration in the assessment system.
Last edited by halberto9; 09-28-2018 at 12:49 PM..
Have to see more details of the plan to see how it winds up rolling out, however the current system is absolutely completely broken beyond repair and any fix is going to be painful.
Town of Oyster Bay Supervisor Joe Saladino lives in a bayfront home in the Nassau Shores he purchased for $740,000 in 2003, the current assessed value is $456,000....
Who do you think is paying for the fact that a home now likely worth $1,000,000 + is assessed in the 450's?
What you say is true only if he is assessed at a lesser percentage of full value then his neighbors. If they are all assessed at similar percentage, then that's OK. You would have to analyze the neighborhood/school district to see if he is unfairly benefiting (not saying he isn't). NYS publishes equalization rates and residential assessment ratios to try to even things out for comparisons between school districts, etc.
Curran and the liberals are going to stick it to the taxpayers who took the time and effort to fight their assessment.
She's going to reward the typical democrat voting base who failed to fight them.
Basically, she's going to screw the Republican. white, middle-class workers in Nassau.
Except for your usual "da' liburals, da democraps, duh republicans" bleating Fox News sheep crap, I totally agree.
The system is broken fairly for all and the ones who played it exactly right shouldn't be punished. The elephant in the room NEITHER PARTY wants to address is the handouts to the commercial property owners. That's where it started. The law firms were getting the commercial assessments down, passing the tax buck onto homeowners...smart business people they are, they figured let's do the same for homeowners. We ALL got 30 mailers every year saying "save 40-60%" and many took them up on it and others (like me) learned to do it ourselves. Add foreclosures to the mix and the game is even more convoluted because it's about "comparative sales" and in an era of foreclosure it's easy to find low comps if you have half a brain. I legitimately showed my house is worth where it is BASED ON THEIR RULES, comp sales. Now they want to skirt the law and bump it up. It will happen, but if they don't find a way to ease it up super slowly it will be political suicide and a fast housing crash which is already well into bubble zone. Assess the commercial properties first, but we won't dare go there...already giving them big handouts if they promise to add (3) $20k/year jobs at this point...ya know, that great economy BS and all. Wages up 1.2%, Inflation up 3.77%. Consumer debt up 7%.
Except for your usual "da' liburals, da democraps, duh republicans" bleating Fox News sheep crap, I totally agree.
The system is broken fairly for all and the ones who played it exactly right shouldn't be punished. The elephant in the room NEITHER PARTY wants to address is the handouts to the commercial property owners. That's where it started. The law firms were getting the commercial assessments down, passing the tax buck onto homeowners...smart business people they are, they figured let's do the same for homeowners. We ALL got 30 mailers every year saying "save 40-60%" and many took them up on it and others (like me) learned to do it ourselves. Add foreclosures to the mix and the game is even more convoluted because it's about "comparative sales" and in an era of foreclosure it's easy to find low comps if you have half a brain. I legitimately showed my house is worth where it is BASED ON THEIR RULES, comp sales. Now they want to skirt the law and bump it up. It will happen, but if they don't find a way to ease it up super slowly it will be political suicide and a fast housing crash which is already well into bubble zone. Assess the commercial properties first, but we won't dare go there...already giving them big handouts if they promise to add (3) $20k/year jobs at this point...ya know, that great economy BS and all. Wages up 1.2%, Inflation up 3.77%. Consumer debt up 7%.
Can't always find comp's. My recently sold house went for more than double my assessed value. The cheapest house not a comp since I was 900 sq ft larger and had nearly double the lot size was 240k less than what we sold for. The cheapest comp similar to mine was sold for 180k more then my assessed value. I played by the rules and won. This property is going to get wrecked on the reassessment. Luckily the new owners are Hindu and there Temple "technically" bought it. So they won't be paying any taxes.
Can't always find comp's. My recently sold house went for more than double my assessed value. The cheapest house not a comp since I was 900 sq ft larger and had nearly double the lot size was 240k less than what we sold for. The cheapest comp similar to mine was sold for 180k more then my assessed value. I played by the rules and won. This property is going to get wrecked on the reassessment. Luckily the new owners are Hindu and there Temple "technically" bought it. So they won't be paying any taxes.
Agree. As values go up, low comps harder to find. Even the flippers pay too much, but there are still homes being flipped and foreclosed. Enough to keep from an increase if someone does their homework. The difference now is no Mangano and Co. pretty much rubber stamping ANY half-way reasonable challenge. Those days are over.
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