This article maybe a little Dry for must people taste buzz so grab a glass of water . Bare with me because this extremely important .
Clients always has me how do they factor property taxes . How can get them down ?
Interesting in 14 years no one said How do I get up ? but maybe I need be in the business for 20 years . Haha
Property Taxes are Calculate using Assessment Value Multiplied By Taxes Rate . Easy we got it . Please Remember this because know what I going to say may start to get complex .
Assessment Value may stay the same but Taxes Rate Change This will affect the calculation and Versa . Were Taxes may go up .
Who Calculate the Assessment Your Town,Village , City Assessor .
How is The Assessment Calculate :
- Market value of property lets say = $100,000
- Level of assessment = 27% (City assesses property at 27% of market value)This can be 100% market Value Please note
- Assessment = $27,000
You should Visit with your Assessor Before you purchase and /or When Do any Remodeling or Renovated. Your Should know your assessor by his/her name
Bellow is Difference of Assessment VS Taxes
Taxes Cover expenses for school districts, municipalities, counties and special districts.
How Taxes Calculated For example:
- Town A’s tax levy = $2,000,000
- Town’s total taxable assessed value = $40,000,000
- Tax rate = $50 per $1,000 of taxable assessed value
- Tax bill for property with a taxable assessment of $150,000 = $7,500
For more information www.tax.ny.gov
Please you can Grieve your assessment Value , You do have get the application from local assessor office which you should know by heart day one of moving in date. You can have professional Westchesrter/Putnam/Dutchess country https://retiredassessor.com – Richard O Donnell . He can also answer a lot of your questions .
I hope this information helps you can always email email@example.com also if you have any questions