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Didn't Receive a Change of Assessment Notice from the Assessor? No problem, right? Not True! Just because there is no change in the assessment, it doesn't mean you're not being hit with more than your fair share of taxes.
Many potential clients tell us that their assessment hasn't changed in years. However, the assessed value is only one component of value utilized for tax purposes. The NYS Equalization Rate (Eq Rate) is vital to know before considering if the assessment is fair or worthy of appeal, and Eq Rates are changing dramatically all across the State.
As example, one town's Eq Rate dropped from 86% to 56% over two years. This change translated to a 54% increase in the Full Market Value used for property tax calculations even though the assessment itself stayed the same. Has your property's value increased by 54% in the past 3 years? That type of Eq Rate change obscures how much an owner might overpay in taxes, and there is no requirement to notify owners other than posting online.
Don't pay more than your fair share of real estate taxes. Contact us today.
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