residential and commercial properties will be valued.
Now the County website mynassauproperty.com 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.