In addition, the seller's are required to provide a New York State Property Conditional Disclosure statement which may included additional information about the property. However, sometime seller's do not include all of the necessary information or sometimes they do not provide the disclosure. The disclosure statement is never a substitute for your own professional inspection.
Tax can be lowered in Albany this way. I recently wrote a blog post on it here. Usually all taxing entities have a 30-45 day window when taxes may be challenged. http://www.monticellonys.com/2012/general/albany-property-ta
As far as taxes, the only way to lower the property taxes is to lower the assessed value of the taxing authority. To do this, you must protest the value and show up to any scheduled informal or formal hearing with substantiating proof that the assessed value is too high. Typically, comparable properties of a lower market value is a good route, along with photographs if the home is distressed. Sometimes it works and sometimes it doesn't. In my local area, I know an investor that lost at both an informal and formal hearing and had to take legal action to have some of his properties re-assessed. If it gets to that point, it could become costly.
Darrell D. Drouillard
Home Team of America
16719 Huebner Rd., Bldg 4
San Antonio, Texas 78248
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