Property taxes are based on fair market value. Since this is a new building, it may not be fully assessed by the tax assessor. You will need to find that out first. If it has been fully assessed, ask the assessor's office what the unit is assessed for. If the unit is assessed for more than what you are paying, you have a basis for a tax reduction. If the unit is assessed for less than what you are paying for, then you do not have a basis for a reduction. You will need to call the Town of Rye located at 10 Pearl Street, Port Chester, NY to get this information. Let me know what you decide. Best, Maria Mantis

There is no easy way to have the taxes reduced. Why bother on this building anyway. This is a cheaply built building standing across all nice looking brick buildings. I live nearby and have seen the construction going on. Two bedroom apartments are not ideal here in West Chester as most families have at least two kids and they are not looking for anything less than 3 bedroom. So, those who buy a two bedroom condo will have an extremely hard time to get rid of it in the future, if needed. There is no comparison to Park Ave living.