What Factors Affect My Property Taxes?

Property Tax Reduction Consultants

125 Jericho Turnpike, Suite 500 
Jericho, NY 11753

(516) 484-0654 or (631) 484-0654

We can tell you whatever you want to know about property taxes and that knowledge comes from years of experience in the industry. Twenty-seven to be exact, and we have evolved and transformed with the market throughout the years. No matter what the current state of the economy is, P.T.R.C. Inc. has always been successful in earning reductions for our clients. So as we get into the heart of tax season, we thought it would be cool to tell you a little more about your property taxes! 

Value of Property

This is perhaps the factor that impacts your property taxes the most. The local taxing authority, in this case Nassau and Suffolk County, will come to your home and perform an appraisal on your property. They determine the value by looking at the size of your property in proportion to the rest of your community. Then they look at your home and the improvements or work that it might need. Is there a new bathroom or kitchen? Did the owner recently add an extension to the home? All of these things will come into play when assessing property value.

Tax Rate 

The property tax rate may be expressed as a percentage or as a millage rate. One 'mill' has a value of $1 for every $1000 your property is worth, Taxing authorities determine tax rate by multiplying the assessed value of the property by the mill rate and then dividing by 1000. The purpose of the millage rate is to evenly divide school and government funding amongst homeowners. 

Assessed Value

Local taxing authorities might undersell the value of your home in a weak economy to help stimulate spending, but this is not always the case. The value of your home might be higher or lower during a government appraisal compared to a private appraisal, so this value doesn't necessarily reflect your properties exact value. As we said earlier, a number of different factors can impact your appraisal value. Locations that run along busy roads are often given tax breaks because they are less desirable on the market. 

Long Island property taxes are particularly high because of the value of the suburban properties. Located near beaches, cities and farms, both Nassau ans Suffolk County provide some of the most expensive property in all of the United States. If you want to keep those expensive property taxes in check, just reach out to P.T.R.C. Inc. and we can help. 

To file a tax grievance, call 516/631-484-0654 or click here!