The calculation of property taxes varies by municipality. For example In Yonkers assessments were calculated decades ago and are adjusted to current values by the use of a fudge factor known as an Eualization Rate. This is common practice in Westchester. On the other hand Pelham and Bronxville Village assessments are based (supposedly) on fair market value. So in those municipalies the assessment will likely change after the property closes.

In other communities if you fell the property is overassed you have the right to appeal the taxes once a year. There are attorneys and real estate appraises who speacialize in this service.

The bottom line is that any change in property taxes due to a sale will occur after the transaction closes. Hope this is helpful!

Peter A Harris, ABR
Licensed Associate Real Estate Broker
Houlihan Lawrence Inc.
4 Valley Rd
Bonxville NY 10708

pharris@houlihanlawrence.com

http://www.deedsandleases.com

Hi, The assessment can be grieved by the property owner only. The current seller can start the process and once the title transfers the new owner can follow up. There is also no way to guarantee the assessment can be grieved either. Typically if the assessed value is much higher then the listing price or sold price there should be room for a grievance. The only way to do this is to apply through the town and they review the application to see if you qualify. Tax grievance day in Westchester is usually the third Tuesday in June. You can do this two ways, 1) Hire a private assessor to help grieve or 2) Do it yourself through the town. If you need more information on grieving taxes scroll through my blog posts here on Trulia. I posted a detailed guide about 3 months ago.

Sincerely,

Christopher Pagli
Licensed Associate Broker
Accredited Buyers Representative
Legends Realty Group
914.406.9023

The taxes are based on the assessed value of the property. The buyer can not do anything about the taxes prior to closing the seller would have to do that. There is usually a period to protest taxes once or twice a year.

You may be successful in protesting your taxes if the purchase price is lower than the current assessed value, but keep this in mind. Many municipalities have become accustom to the money that taxes bring in. What's happening in many counties is that even though the assessment gets lowered, the multiplier used to calculate the taxes is being raised and keeping the taxes near where they were.