Our home is newer among a town of predominently older homes. Therefore our taxes are double or more than

Asked by Jessica, West Seneca, NY Tue Jun 23, 2009

most of the homes in my area. Only a few people have even looked at our home and generally the comment is that the taxes are too high. Is there anything we can do or are we just trapped in this home forever.

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Joe Sorrenti…, , Buffalo, NY
Tue Jun 23, 2009
Pull out your most recent Town and County tax bill that you should have received in February. On the upper left side, a quarter of the way down, it should say: Assessed Value and below it there is a figure, Next to Assessed Value it should say: FULL MARKET VALUE. Below that is the figure the town assessor thinks your house is worth. Above the words FULL MARKET VALUE it should say UNIFORM % OF VALUE and below it is a number ( it should say 48.5%) Which is what West Seneca's assessment level is. That figure times the figure under full market value is your assessed value is. That is what you are taxed on. If you were at full market value, your tax rate per thousand would be lower but your taxes would be the same.
If the figure under full market value on your tax bill is less than what your home is currently listed at, you will have a hard time challenging your assessment. If the Full market Value is higher than what you are asking, you may have a chance to get it reduced. You usually have to do this before May 1st.
If you are on a street that is less than 10 years old, there may be higher special district taxes for lighting, sewer, etc.
I have a method of lessening these for the prospective buyer on a monthly basis. Call me if you would like to discuss it or have your agent call me at 716-568-0355

Joe Sorrentino
Associate Real Estate Broker
MJ Peterson Real Estate
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Jack Levine, , Yuba City, CA
Tue Jun 23, 2009
Taxes are based on purchase or sale price. Generally, many homes have dropped in value with the bubble burst syndrome that affected most of the country. If a buyer purchases your home for less than you paid, their tax value should be based on their purchase price. You may decide to sell in a short sale if you have cause and a hardship. Your home is newer and has features that should be better than other older homes in your area. Your home may be the nicest home in the area but this does usually affect the sale of your home due to the higher value. You need to decide what your motivation factor is and perhaps lower the price to obtain an offer.
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