Tag Archive for Westchester property tax

Didn’t Get a Tax Reduction … Don’t Give Up!

Many homeowners file tax grievances and fail to achieve their desired result, a reduction in their tax assessment.  Unfortunately, often times this initial rejection can result in the homeowner not pursuing their grievance any further.  This may be the result of many different factors. For example, many homeowner’s do not have the time, or the grievance may get lost in the shuffle of an already hectic schedule.  Perhaps they do not understand the process.

Whatever the reason, homeowners must understand that in many cases the initial filing may merely represent an admission ticket into the grievance process.  At the initial stage the Board of Assessment Review is not compelled to grant any reductions and are accountable only to the appeal process, known as SCAR or Small Claims Assessment Review.

There are many reasons why a homeowner may not get an initial decision.  Among these reasons may be poor documentation of market value, limited resources of the Board of Assessment Review in the face of increasing numbers of tax challenges.  Keep in mind that the board of assessment review is made up of ordinary tax payers, some with extensive real estate experience, some with little or no experience, and they are reviewing hundreds or thousands of cases in a short period of time.

It is for these reasons that the initial tax grievance filing should be viewed only as an entry into the process.  It is important that homeowners carefully review the boards decisions and follow up with a SCAR appeal if appropriate.  If you have any questions or comments regarding the process please feel free to visit my web site taxgrievancespecialist.com

Please take a moment to comment or ask a question, but whatever you do Don’t Give Up!

Please feel free to request a review of your property tax assessment, it’s FREE!

 

All property tax appraisals are not created equally!

This is an important point if you or your clients are thinking about challenging your property taxes, and using an appraisal to support your value.  Many times homeowners filing a Tax Grievance on their own behalf will use an appraisal that they obtained during a refinance. This may be fine, but keep in mind that appraisals are performed for specific purposes.  The result is that some appraisals will be more conservative and some more aggressive depending on the situation.  For example, if a homeower owns a house worth $500,000 with no mortgage and is looking to refi and take $50,000 out there is a lot of room to work with and the appraisal may come in lower than the $500,000 value.  Where as if the same house is being purchased for $500,000 it is more likely to appraise for the full $500,000, assuming it is actually worth $500,000.

The point is appraisals are performed for different purposes, some are performed more conservatively than others.  As a result, if you are using an appraisal to demonstrate Fair Market Value then, in my opinion, that should be the purpose of the appraisal.  Often times homeowners will go before the assessor with their appraisal performed for the purposes of a refi and find out that the Assessor has a whole list of comparables that support a higher value.  So if you are not going to use an appraisal specifically perfomed for the purposes of determining Fair Market Value of the property, as of the specified valuation date for the specific town, make sure that you are at least familiar with the other comparables that are available as of that date.  Please feel free to contact me at TaxGrievanceSpecialist.com