Property Tax FAQs: The Answers

Property Tax Reduction Consultants

125 Jericho Turnpike, Suite 500 
Jericho, NY 11753

516-484-0654 or 631-484-0654

www.PTRC.com

Do you ever feel overwhelmed when it comes to property taxes? Maybe you're unsure of how your tax rate was determined? Or maybe you feel hesitant because you're not sure where all of your hard earned money is going? At P.T.R.C, we're not only available to help our clients reduce their property taxes - we're also here to educate our clients on the nature of property tax and the issues that might arise when it comes to payments. 

Check out some of our answers to the top property tax FAQs below:

Q: What is property tax?

A: Property tax is a tax based on the value of your property. The money collected goes towards municipal services that homeowners are granted access to, such as schools, roads and police protection.

Q: What determines the amount of a Property Tax Bill?

A: Your property tax bill is typically determined by 2 factors; the property's taxable assessment and the tax rates of taxing jurisdictions where your property is situated.

Q: Why should I challenge my assessment?

A: Homeowners often feel that their property tax rates are far too high for their location and property size. If you believe that you're being charged more than you feel your house is worth, you should always challenge your assessment. Additionally, if you believe that your neighbors are paying less than you, we recommend challenging your assessment as well. Keep in mind that municipality will not notify you of your eligibility to reduce your property tax - it is your responsibility to find out on your own!

Q: Should I challenge my assessment if I own a private home and think the market value estimate is too high?

A: Yes! Always review sales of similar houses in your neighborhood to determine what your house would sell for if you were to put it on the market today. When doing so, make sure that the sales are as recent as possible.

For answers to more frequently asked questions, click here!

At P.T.R.C, we're dedicated to making sure that our clients pay the lowest possible property tax as required by law. For more information on how we can help, contact us at (631) 484-0654 today!