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).
