Tax Calculations

Many Long Island homeowners, as well as property owners across New York State, often feel intimidated by the property tax grievance process, assuming it’s overly complex. However, the reality is far simpler. With some basic research and paperwork, anyone can navigate through this procedure to potentially reduce their property taxes. Let’s delve into the intricacies of the property tax grievance process specific to Long Island and New York State.

The Assessment

Contrary to common belief, it’s not the assessor who directly determines your property taxes in Long Island or elsewhere in New York State. Instead, their role is to ascertain your property’s market value, similar to the work of an appraiser or a real estate agent. Once the market value is established, the assessor calculates the assessed value by multiplying it by a predetermined Uniform Percentage of Value (UPV) set by the state. This UPV ensures a standardized assessment calculation for fairness. For instance, if your property’s market value is $500,000 with a UPV of 40%, your assessed value would be $200,000.

The Assessment Roll

Following the determination of assessed values, the Assessor’s Office publishes an Assessment Roll containing information about all properties in the municipality. This Roll typically emerges in May, preceding the deadline for grievance applications. Property owners can access this roll online or through their local municipality’s office. It’s crucial as it provides insights into assessed values and market values, which form the basis for calculating property taxes.

Researching Grounds for a Grievance

After reviewing the assessed value of their property, homeowners can file a grievance if they believe it’s unjust. Common grounds for grievances include misclassification (e.g., residential property taxed as commercial) or exemption issues (e.g., school or church properties). Often, grievances stem from claims of Unequal Assessment, where similar properties in the area have lower assessments, resulting in higher taxes.

Grievance Day

Each municipality on Long Island and throughout New York State sets deadlines for filing grievance petitions, usually designated as Grievance Day. On this day, the Board of Assessment Review (BAR) convenes to evaluate petitions and hold open hearings for property owners to present their cases. Filing a grievance involves submitting Form RP-524 and a supporting letter detailing reasons for the grievance, along with any pertinent supporting documents.

Appeals

If the initial grievance is unsuccessful or doesn’t yield the desired relief, homeowners have the option to appeal the decision. This can be pursued through a Supreme Court trial or a Small Claims Assessment Review (SCAR).

Contrary to misconceptions, the property tax grievance process is relatively straightforward in Long Island and throughout New York State. By staying informed about local assessments, reviewing assessment rolls, and filing timely grievances with supporting documentation, homeowners can potentially reduce their property taxes. For those unable to navigate the process independently, property tax grievance firms like Schroder & Strom, LLP offer assistance. Remember, even if an initial grievance is unsuccessful, avenues for appeal exist to seek further relief. Contact Schroder & Strom, LLP today to schedule a consultation with one of our experienced attorneys to see how we can help.

Learn More About Schroder & Strom, LLP

At Schroder & Strom, LLP our core mission revolves around offering unparalleled real estate tax counsel and litigation services, positioning us as premier attorneys specializing in this field across Long Island and throughout New York State. Our expertise extends to a diverse range of commercial properties including condominiums, co-ops, shopping centers, retail outlets, and industrial properties, as well as individual residential homes. Our approach is distinguished by a fusion of extensive experience and unwavering dedication to our clients’ needs. Through innovative negotiation tactics and a track record of numerous successful trials, Schroder & Strom has emerged as a prominent firm in the realm of tax certiorari law within New York.

We serve a broad clientele comprising developers and tenants not only within New York but also nationwide. We firmly believe in direct attorney-client interaction facilitated by our seasoned legal team. By delivering sound guidance, prompt responsiveness, and a commitment to professionalism, we safeguard our clients’ interests, consistently achieving notable tax reductions, and fostering enduring partnerships.

Over time, the attorneys at Schroder & Strom have established themselves as influential figures in real estate tax matters, frequently sharing insights through lectures on tax law, procedural intricacies, and individual taxpayers’ rights. Our educational endeavors encompass engagements with Bar Associations, legal seminars, local business forums, and homeowners’ associations, solidifying our reputation as thought leaders in the field.