Property Tax Reduction Consultants
125 Jericho Turnpike, Jericho, NY 11753
516-484-0654 or 631-484-0654
Here are a couple of your FAQ (frequently asked questions) answered by the team at Property Tax Reduction Consultants.
PTRC is here to help you in any way you need! Please feel free to contact us today at 516-484-0654 or visit our website, linked HERE!
Q:What is property tax?
A:Property tax is a tax based on the value of real property. Counties, cities, towns, villages, school districts and special districts each raise money through the real property tax. The money funds schools, maintains roads, pays for police and fire protection, and other municipal services enjoyed by homeowners.
Q:What is a property tax assessment?
A:An annual determination by the Department of Assessment, which consists of a total assessed value, a taxable assessed value, and a tax class designation.
How is my property tax determined?
Nassau County's taxing jurisdictions range in size from the county itself to towns, cities, villages, local school districts, library districts, and other special districts providing specific services to people in their boundaries. Of course, you only pay taxes in a few of them, the exact number varies depending on where you live.
With the exception of cities and those villages which establish their own tax rolls for city and village purposes, each year these taxing jurisdictions examine the assessment roll prepared by the Department of Assessment and establish budgets which determine the tax levy (amount of money to be raised by property taxes).
Taxes for village or city purposes and for school purposes are billed separately. The tax rates for all the other taxing jurisdictions in which your property is located are added together and that consolidated tax rate (per hundred) multiplied by the assessment of your property equals your property tax for county, town, and special district purposes.
Q:Why should I challenge my assessment?
A:If you feel that the municipality has given you a market value that is more than you feel your house is worth in today's market you should challenge your assessment. If you feel your neighbors may be paying less than you, you should challenge your assessment. Under New York State Real Property Tax Law (Section 730 NYRPTL) homeowners are entitled to reduce their Property Tax Assessment a maximum of 25% per year. The municipality does NOT notify you of your eligibility. It is up to you to find out for yourself. We can qualify you! There is no cost to qualify. (To qualify go to application).