Nassau County does not assess commercial and residential properties at full value. That would be too transparent and taxpayers would really know how the Assessor values the property. Instead, the Nassau Assessor, from time immemorial, uses a ratio of assessment to market value. Even the ratio of 1% that they show on the web site has now been changed for purposes of filing a complaint to the assessment.
After several years of no change for Nassau assessments, every property was re-assessed. Not only a new assessment but a new ratio of assessment to market value. Many properties that had been granted assessment reductions, were re-assessed at a higher value and many properties that had not been granted assessment reductions were re-assessed at a lower value. Having a lower assessment does not mean that the assessment is now correct you can still protest the assessment.
Generalizations do not work when correctly valuing over 430,000 distinct and different properties regardless of a re-assessment increase or decrease. Most properties paid a higher school tax this October 2021 and will most likely have a higher tax in January. Yes, tax rates increase almost every year but that does not mean you have to simply pay that tax without making sure the assessment is correct.
The only way to protect yourself from higher taxes, in the future, is to protest your assessment this January with a reputable experienced tax attorney.
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