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.
