[Note to those confused: the tax grievance process on property taxes is a very specific, regional topic in certain counties of NY-state and if this seems ridiculous then you are not alone, however this is to discuss a specific situation not the merits of the tax grievance process.]
Bought a house in Nassau County in 2023 and understand how the tax grievance process works, however have not come across an answer for this scenario:
The tax appraisal for 25/26 recently came in the mail and the value is significantly less than our purchase price (almost 30% less). It hasn’t changed at all as far back as I can see it. Intuitively I would expect our purchase price to be the new tax basis, with very little room to argue, hence I almost feel lucky and am bracing myself for a step up (understand the 6% cap) to the purchase price some year hopefully not too soon (at that point grieving would make sense to me of course).
Is there any point in grieving or would that expose me to the risk of pointing somebody to the discrepancy?
Understand the old owners used to work with Maidenbaum. I called them and their answer to that question was ‘you have nothing to lose’ but I am nervous given how low the current assessment is and feel like they just wanted me to sign up.
Thank you
Bought a house in Nassau County in 2023 and understand how the tax grievance process works, however have not come across an answer for this scenario:
The tax appraisal for 25/26 recently came in the mail and the value is significantly less than our purchase price (almost 30% less). It hasn’t changed at all as far back as I can see it. Intuitively I would expect our purchase price to be the new tax basis, with very little room to argue, hence I almost feel lucky and am bracing myself for a step up (understand the 6% cap) to the purchase price some year hopefully not too soon (at that point grieving would make sense to me of course).
Is there any point in grieving or would that expose me to the risk of pointing somebody to the discrepancy?
Understand the old owners used to work with Maidenbaum. I called them and their answer to that question was ‘you have nothing to lose’ but I am nervous given how low the current assessment is and feel like they just wanted me to sign up.
Thank you
Statistics: Posted by heisenberg. — Mon Jan 22, 2024 6:36 pm — Replies 0 — Views 84
