Friday, September 7, 2018

Nassau Re-Assessment - Uncertainly

County Executive Laura Curran is uncertain how the re-assessment of all Nassau
residential and commercial properties will be valued.

Now the County website assesses residential property at
.25% of value but really it is .14% of value. For example - a typical 1,280 assessment is listed as
a value of $512,000 using the .25% ratio. In reality, when we attend hearings, residential properties
this year are assessed at .14% making the Nassau Assessor’s estimate of value $914,285. If your
property was appraised at about $600,000 checking the county website you think you are under
assessed at $512,000. My analysis reveals, you are very over assessed at $914,285 and I can get
you an assessment reduction. The commercial assessment is listed at .1% of value but really it’s
.06% of value. Confusing? It will be more confusing if the ratio of assessment to market value,
also called the equalization rate changes again. Hopefully, we will know what the plan is in
November so we can plan what to do in January.

Monday, July 2, 2018

New Nassau Assessor - New Assessments

We welcome Nassau’s new Assessor, David Moog, and the anticipated customer-friendly assessment department. Be ready for promised new Nassau County assessments in early November.

If assessments are not at 100% of market value, then the assessments don’t explain much. For example, if you receive an assessment of 715 on your home, multiply that assessment
by 700 to find out what the Nassau Assessor estimates are the market value of your house.
(For example, 715 assessment multiplied by 700 equals $500,000.

On commercial properties it is similar; multiply the assessment by about 150 to find out what the Nassau Assessor estimates the market value of your commercial property. A commercial
assessment of 7,000 multiplied by 150 equals 1,050,000.

The January 2019 assessments might be at the same number; however, until there is a clear understanding of the relationship of assessment to market value, you cannot determine the Assessor’s estimate of market value.

Bottom line, check your assessment now and have an expert check the new assessment in January 2019.

Friday, May 4, 2018

South Hampton Town Taxes Up

All over the Hamptons, the new tax assessments indicate increased market values. This means the assessors are using new sales to raise similar properties’ assessments. In many cases, the increase is exaggerated and too high. The protest period is only for another week and ends on May 15th, 2018.

You can’t get a tax reduction without filing a timely protest. 

Wednesday, April 11, 2018

International Be Kind To Lawyers Day

International Be Kind To Lawyers Day is celebrated on the second Tuesday in April every year. This year, the day falls on April 10th. International Be Kind To Lawyers Day is dedicated to honor and thank the lawyers who were of help in some ways to everyone. Lawyers may have a lousy impression among the public, but it is a vital profession for the society and the justice system. The profession has always been subject to jokes and seen as an evil job by general people. The profession revolves around the perception that lawyers are charging an exorbitant amount of money to exploit the public and that their aim is to win the case by any means necessary, even if it means abusing the legal system. This day is to spread the awareness that many of these perceptions are myths and some lawyers do practice law with ethics.

Wednesday, April 4, 2018

Islip, Huntington, Babylon, All Suffolk Real Estate Taxes

Now you see an increase in take home pay – when you pay your Federal Income Tax next year, your real estate taxes will be capped; along with your NYS Income Tax. More than ever, you must make sure to get your real estate taxes as low as possible. You can only protest next year’s taxes by filing a tax certiorari complaint/grievance from May 1, - May 15, 2018. 

Commercial taxes are based on real estate rental value, not business value. Residential taxes are based on sales of similar properties in the same school district.

You need an expert to guide you. Properties with low taxes have more value when offered for sale.

Thursday, March 8, 2018

Suffolk May Be One County, But Many Taxing Districts

A $700,000 home in Huntington is assessed at 4,830 which is .69% of its market value; and a similar $700,000 home across the way in Islip is assessed at 11.35% of market value. So it’s not easy to compare the tax assessments for a property in Huntington and a similar property is Islip. It is even more difficult if one home is in a village and a similar home is in the same town but not in a village. There are hundreds of different taxing districts in Suffolk County. If there are 10 gasoline stations in the 10 Suffolk Towns each one will have a different assessment and a different tax rate. But wait that’s not all – the tax rates and ratio of assessment to market value change every year for most, if not all, of the hundreds of districts. That is why assessments for every commercial and residential property should be checked each and every year!

Wednesday, February 21, 2018

No Joke! Nassau County Assessment Protest Period Extended to April Fool’s Day

Nassau County has extended the protest filing period for real estate tax assessment reduction for all commercial and residential properties until April 1, 2018.

It is absolutely appropriate to end the period on April Fool’s Day! The Nassau County website,, presents a market value on properties that is fooling you. The County’s market value is based on an old outdated ratio of assessment to market value. In reality, the market value the Nassau Assessor is basing the assessment on is 50% higher. So, a residential market value estimate on the County’s website of $600,000 is really a $1,000,000 value. A commercial market value estimate on the County’s website of $1,000,000 is really $1,550,000!

Every residential and commercial property in Nassau should be checked to see if an application to reduce the assessment should be made.