Bill <an_ordinary_guy_158[at]hotmail.com> wrote:

- quote -

Mine was a couple of years ago. (It dropped to FMV when I
filed a protest, of course; I had just purchased it, so FMV
was clear.)

Many places have gone to obligatory 100% valuation; before
that, you might be at 50%, but if your neighbors are at 40%
you're still getting overtaxed. With everybody at 100%
that's less likely.

Seth

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

junkaccount.smith[at]gmail.com wrote in

- quote -

AFAIK, most real estate agencies will appraise your home for
a nominal fee. It may even be free, if the real estate agent
has an interest in the area, even if they don't get to sell
your home. They also may give you pointers on what to do to
improve the "yield". Do go with an active agency.

--
Best regards
Han
email address is invalid

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

junkaccount.smith[at]gmail.com posted:

- quote -

Hopefully, someone with specific NYC knowledge will chime
in.

Meanwhile, I will provide the general observation that
"assessed value" almost never bears any resemblance to
market value -- fair or otherwise. In some jurisdictions,
"assessments" have been so low that a major "reform"
resulted in the requirement that the assessed value must
reach 50% of market value -- and that "reform" was to be
phased in over 5 years. [That actually happened someplace I
lived in the past.]

The reason is, that assessors (or their bosses) are
_elected_. And guess what? They toady to their
constituents, who tend to be voters, or -- even more
important -- campaign contributors. So keeping assessments
low is one way of repaying your supporters.

Of course, it all falls apart since the 'govmint' needs
ever-increasing money to fulfill its primary purpose of
growing and spending; thus, if assessments remain low, tax
_rates_ simply rise more.

Now, that brief lecture should explain why it's highly
unlikely that your "assessed" value is _more_ than the FMV.
That would truly qualify your jurisdiction for an entry in
Ripley's "Believe it or not!"

Bill

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

If I don't want to get an all out appraisal of my house,
does anyone have any ideas of how close the tax assessed
value of my house in NYC comes to it's FMV value? 70%? 80%?
110% (over-estimating what my FMV would be to get more tax
$$$ out of me?)

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >