Expert Property Tax Reduction Guide: Long Island & New York State

Property Tax Reduction

Welcome to the ultimate guide to property tax reduction brought to you by Schroder & Strom, LLP. Property taxes can be a significant financial burden for homeowners and businesses alike. However, there are avenues available to alleviate this burden through property tax grievance, appeals, and reduction strategies. In this comprehensive guide, we’ll delve into what property tax reduction entails, what you need to know about it, how to file for it, and more.

What is Property Tax Reduction?

Property tax reduction refers to the process of contesting your property tax assessment in order to lower your tax liability. Property taxes are determined based on the assessed value of your property, which is often determined by local tax assessors. However, assessments may not always accurately reflect the true value of your property, leading to higher tax bills than necessary.

What to Know About Property Tax Reduction:

Understanding Your Assessment: The first step in pursuing property tax reduction is understanding how your property is assessed. Assessments are typically based on factors such as property value, location, and recent sales data. Reviewing your assessment notice can help identify any discrepancies that may warrant a reduction.

Grounds for Reduction: There are various grounds on which you can challenge your property tax assessment, including errors in valuation, inaccuracies in property information, changes in property condition, and unequal treatment compared to similar properties in your area.

Documentation and Evidence: Building a strong case for property tax reduction requires gathering relevant documentation and evidence to support your claim. This may include recent appraisals, property sales data, photographs, and any other relevant information that demonstrates inaccuracies in your assessment.

Deadlines and Procedures: It’s crucial to be aware of the deadlines and procedures for filing a property tax grievance or appeal in your jurisdiction. Missing deadlines or failing to follow proper procedures can result in your claim being dismissed.

Professional Assistance: While it’s possible to pursue property tax reduction on your own, seeking professional assistance from a property tax consultant or a property tax lawyer can greatly enhance your chances of success. Experienced professionals can provide guidance throughout the process and advocate on your behalf during hearings or negotiations.

How to File for Property Tax Reduction:

Assessment Review: Begin by reviewing your property tax assessment notice carefully to identify any discrepancies or errors.

Gather Documentation: Collect relevant documentation and evidence to support your claim for property tax reduction, such as recent appraisals, property sales data, and photographs.

File a Grievance or Appeal: Follow the procedures outlined by your local tax authority for filing a property tax grievance or appeal. This may involve submitting a formal written complaint and supporting evidence within a specified timeframe.

Attend Hearings (if necessary): If your grievance or appeal proceeds to a hearing, be prepared to present your case and provide evidence to support your claim for property tax reduction.

Follow-Up: Stay informed about the status of your grievance or appeal and follow up with the relevant authorities as needed to ensure your claim receives proper consideration.

Your Property Tax Reduction Partner

At Schroder & Strom, LLP we understand the challenges associated with property tax assessments and the importance of maximizing property tax relief for our clients. Our team of experienced property tax consultants and lawyers is dedicated to helping homeowners and businesses navigate the complex process of property tax reduction.

Whether you’re seeking to contest your property tax assessment, file a grievance or appeal, or simply explore options for reducing your property tax liability, Schroder & Strom, LLP is here to provide expert guidance and advocacy every step of the way.