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I think that the town you live in should be forced to buy your house for whatever they appraise it for. That would end the ridiculous appraisals that you commonly hear about. I know this is unrealistic, but it would probably get me elected
Interesting point! You may then be required to sell your home to the town even it is underassessed.
As info, go to bankofamerica.com, click on home equity loans, there should be a link that says "How much is your home worth" No clue where they get the numbers, but it is interesting.
There is so much being left out of your narrative that the post just smacks of the disgruntled Hannity viewer. This board is trolled over with people who whine about taxes. I don't mind that, per se. I do mind baseless arguments of tax abuse. Okay. We get it. No one likes paying taxes. At the same time, my schools, roads, cops, fire department, code enforcement, you name it, must continue to run. If the city reassessed everyone's house down 25%, or whatever percent the news is saying our houses have lost value, they'd be killing themselves. It is foolish to think they'd voluntarily do this this way.
To sum, your argument needs support. It doesn't stand to reason.
So what you are saying by your Hannity insertion is only people who are conservatives complain about the high property taxes here on long island? Really?
It's funny how all the public services you listed above where paid for by the property taxes before the false inflation of home prices during the bubble years. Home prices here doubled or more 1999-2006 and prop taxes took off as well. Did the cost of public services double in that time frame? Did average home income double in that time period? It's obvious that people here had to bend over and take these prop tax increases when values went up. So when values go down it should be adjusted properly. Just because our local government found a way to spend and budget all the proceeds from the increased property values from the housing boom (government at it's best) does not mean these budgets have to remain indefinitely.
It all comes down to fiscal responsibility which unfortunately is not being practiced by our state and local government at this time.
To sum, your argument needs support. It doesn't stand to reason.
When we grieved (in the Town of Brookhaven) we used not only the purchase price of our home, but 7 or 8 good solid comparable sales from within the previous 6 months. The comps held just as much weight to get the assessment dropped.
Also, with Brookhaven, the assessor called me in to "negotiate" a deal where they would drop my assessment to close to what I was asking for in return for me not having to go to court for the small claims hearing. It was worth it.
Is there a attorney on here that can verify if we the people can or cannot sue for these overinflated value estimates. Because if so sign me up... have my retainer cash in hand.........
I agree that free money is free money. Does the town have to pay you interest on the extra taxes you had to pay? Most likely not right?
They have 90 days form a hearing officer's decision to receive your refund. If they don't receive your refund in the 90 days, you will start accruing interest. The refund actually comes from the County Treasurer.
If you win at the Board level there will be no interest becuse you will always be grieving the upcoming Dec. tax bill in Suffolk.
Is there a attorney on here that can verify if we the people can or cannot sue for these overinflated value estimates. Because if so sign me up... have my retainer cash in hand.........
I am an attorney. When you get denied at the Board level,you can bring a court action. It is called a Small Claims Assessment Review proceeding. This is the tax grievance process.
So what you are saying by your Hannity insertion is only people who are conservatives complain about the high property taxes here on long island? Really?
It's funny how all the public services you listed above where paid for by the property taxes before the false inflation of home prices during the bubble years. Home prices here doubled or more 1999-2006 and prop taxes took off as well. Did the cost of public services double in that time frame? Did average home income double in that time period? It's obvious that people here had to bend over and take these prop tax increases when values went up. So when values go down it should be adjusted properly. Just because our local government found a way to spend and budget all the proceeds from the increased property values from the housing boom (government at it's best) does not mean these budgets have to remain indefinitely.
It all comes down to fiscal responsibility which unfortunately is not being practiced by our state and local government at this time.
To sum, your argument needs support. It doesn't stand to reason.
As the values of homes started rising, most base assessed values do not change. The only way to increase your assessed value on your tax bill is to improve your home, ie put on a deck on or addittion.
Your tax bill is :
your assessed value times your tax rate.
What has been changing is your tax rate which is set by local municipalities-town, county and school boards. These are set by budgets passed by your local officials to operate the local governments and schools.
I have owned homes on Long Island for 20 years. I have never seen taxes go down unless I successfully grieved someone's taxes or I applied for a demolition permit and reduced my assessed value. It is not the rise in housing prices that causes the increase in taxes. It is the rise in the cost of running our services.
In the early 90's when we were in a recession, the taxes did not fall 25% because home prices fell. The governments and schools still needed to operate.
The increase in costs is inevitable with the ever increasing costs of health insurance and inflation.
Last edited by corikaplan; 08-02-2010 at 05:50 AM..
Reason: typo
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