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Dennie, Home Buyer in Yonkers, NY

I am having my property reassessed and the county is offering a settlement rather than the indicated assessment value. Should I take it?

Asked by Dennie, Yonkers, NY Thu May 24, 2012

Their offer is somewhat reasonable but I wanted to know how likely would I be able to receive the indicated assessment value should I proceed to a formal hearing. Fyi, my property is assessed above the upper level limit of the common level range.

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All over the state (and country), the appeals process is flooded with applicationbs to schedule for hearings. It sounds like they are offering the settlement to some who seem to have all their paperwork in order and have applications that are probabnly not controversial. If you believe it is a reasonable settlement that approaches what the number is that you were looking for, then you should probably accept it. You can always file again next year if you want to try again to lower the assessment. I have had neighbors and some clients who have done this with success.

Of course, if the market continues to improve like it has done this winter and spring, closing price averages may start to go back up! I am doing at least 1/3 more business this year already!
1 vote Thank Flag Link Thu May 24, 2012
I don't know the numbers involved, but you should seriously consider it. I know of several cases where a homeowner turned it down and got a worse deal down the road. There is also a lot to be said to getting it over with.
1 vote Thank Flag Link Thu May 24, 2012
It really depends on the offer.what your home is now assessed at and what the market says. Be happy to help. Just give me a call
0 votes Thank Flag Link Fri May 25, 2012
It really depends on the offer.what your home is now assessed at and what the market says. Be happy to help. Just give me a call
0 votes Thank Flag Link Fri May 25, 2012
Thanks to everyone who answered my question.
0 votes Thank Flag Link Fri May 25, 2012
I don't know the numbers involved, but you should seriously consider it. I know of several cases where a homeowner turned it down and got a worse deal down the road. There is also a lot to be said to getting it over with.
0 votes Thank Flag Link Thu May 24, 2012
A property tax assessment appeal readjusts your value in the eyes of the town or township. It is what the town/township will base your taxes on in coming years, unless there is a revaluation or substantial changes to the 'improvements" ie your home.

If you this it is a reasonable offer, it's your call. Spend a full day in tax court...pay an appraiser to appear with you??

My question would be is the town/township proposal within 15% of the common level range??
0 votes Thank Flag Link Thu May 24, 2012
Good luck!
Flag Fri May 25, 2012
Thank you Laura. The offer is within the upper limits of the common level range so it is reasonable. After considering everything I think I'm going to take the offer.
Flag Fri May 25, 2012
Does this settlement carry over from year to year or do you need to renegotiate every year?
Is it just addressing current year?
Do you plan on selling soon? A high assessment does impact home's desirability.
Good Luck,
Chris Gubb
0 votes Thank Flag Link Thu May 24, 2012
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