We’ve all seen our real estate values decline this past year and if the experts are correct this decline should continue for some time. Conventional wisdom would suggest that as state and federal revenues tank, and they seek to find new ways to generate revenue, our taxes will continue to raise at a more alarming rate.
That said, where I live (Nassau County, New York) the real estate tax assessments continue to be considerably higher than the average of recent home sales. Clearly a revenue generator for local government taxes.
I say challenge the assessment!
Most folks in the local neighborhoods receive mail solicitations from local attorneys with a simple solution to this problem. “Sign here, no money down, and we will share any tax benefit with you.” At face value this seems like a great deal for no effort.
I chose not to respond to the solicitations and to do the work myself (about 30 minutes of my time using online tools), and am pleased to report a big $$$ savings last year. More importantly I suspect even bigger savings this year.
Here are VERY easy steps for Nassau County:
1) Go here and find a handful of recent home sales (similar house in your area) with prices lower than your current assessment
http://www.trulia.com
2) Go here and click on the left drop down (eservices residents) assessment review and “file an appeal online”
https://www.nassaucountyny.gov
3) Follow the simple menus and plug in your information
MUST be done before 3/2/09
Good luck – Joe
