Your tax bill is based on a calculation of your assessed value multiplied by the tax rates for your property. Variables such as age of the house, size of the property, amenities within the home, and the number of past successful appeals can cause a substantial variance between your neighbor’s assessment and your own. More and more homeowners are realizing that their neighbors have lower taxes for identical homes due solely on the fact that appeals have been filed for several years. Assessments are determined by the Department of Assessment and are reviewed by an independent agency, the Assessment Review Commission. The Nassau County Assessor does not reduce assessments on appeal and has no part in the review process. The County can only reduce the value of a home under appeal and will not reduce the value of any surrounding homes, no matter how high the other homes are valued.
Your neighbor with lower taxes may be benefitting from any number of exemptions offered by Nassau County or New York State. The award of any of these exemptions can produce a substantial tax benefit for your neighbor. Call one of our attorneys to find out if you are receiving all available exemptions and how and when to apply for them.