Will Home Renovations Raise My Property Taxes?

Your Long Island home might not be large in acreage, but it means everything to you and your family. You want that living space to be utilized to the best of your ability and sometimes that means renovations. Sometimes people fear these upgrades because they think there will be a bump in their property taxes down the road. Is this true? Keep reading to find out:

Increasing Living Space
The general rule of thumb is when you add living space to a home, you increase the value. Examples of this include:

• Adding a Bathroom 
• Extensions 
• Dormers 
• Adding Bedrooms 
• Turning Garage Into Living Space 
• Turning Basement Into Living Space 
• Adding a Deck 
• Increasing the Square Footage of Your Home

Just A Face Lift 
If you are simply renovating a kitchen or bathroom and NOT adding any living space, your home might not need to be reassessed. That is why these types of remodeling projects are so popular! They add value to your home and make it more aesthetically pleasing without raising your taxes. Things can get sticky though when it comes to increasing counter space and making rooms more accessible. These can be considered additions and not alterations and a new property value assessment may be needed.

It Is Okay to Ask
If you are not sure whether a project will increase your property taxes or not, just ask! The contractor may be able to give you this information or the town would be able to help if they can't. If you are adding or altering a portion of your home to compensate for a handicap dependent, your taxes can not legally be raised. Don't let anyone tell you otherwise!

Sometimes the review boards and property assessors get the value wrong and that is where we come in. We use a Comparative Market Analysis to get the real value of your home and if it is too high, we will earn you the necessary reductions. P.T.R.C. Inc. has been doing this for nearly 30 years and we have been extremely successful.

Fill out an application on our website to grieve your property taxes or email info@ptrc.com with any questions!

Step-by-Step Instructions for Filing a Property Tax Grievance in Nassau County

Nassau County homeowners need to start preparing their applications for the 2019 filing period before the madness of the holidays sets in. Once Halloween ends, we start on the crash course for Thanksgiving and time starts to fly right after that. Get your applications in sooner rather than later! 

Step 1: Submit Your Application

• Go to our website and fill out an application so we can better understand your situation. 

Step 2: Assessment Review Commission 

• In Nassau County, the assessment board is called the Assessment Review Commission (ARC). 
• This is the first step in the process and we have had a lot of success here over our nearly 30 years in the business. 

Step 3: Small Claims Assessment Review 

• If you are denied at the board level this is the next place to go. 
• We have been extremely successful here and with our Comparable Market Analysis and skilled staff, we are confident in our ability to earn reductions. 
• If we fail, there will be NO FEE charged! 

Step 4: Court Filing Fee 

• At the Small Claims Assessment Review stage, there will be a $30 fee to purchase an index number which ensures that your case is heard.

Step 5: Receive Your Reduction 

• The reduction can be reflected on your tax bills as the reduced value. 
• You may receive a refund check that can be issued for the over-payment of taxes.
• The final method would be a combination of the two. Some may appear as a reduced rate and the rest will come in a refund check.

Step 6: File Next Year

• This is not a one and done scenario. You can earn reductions year after year if you continue to file with P.T.R.C. Inc. 

If you have never filed with P.T.R.C. Inc. before, we have a friendly customer service team that is ready for all of your questions. 

Call 516/631-484-0654 or email info@ptrc.com!

What Type of Reductions Can I Expect?

There is no telling exactly how much you will receive in property tax reductions. Every case is unique, and every property and neighborhood comes with different challenges. We have handled over 260,000 assessments through the years and we are ready for your application in the 2019 Filing Period. Here is what you can expect:

How Reductions Work? 
In New York State, your property taxes are assessed on market value and the perceived assessed value of your home. For example, let's say the tax rate in your district is 10% and your home is worth $500,000, you are going to pay $50,000 in property tax. For a $300,000 home it is $30,000, and so on and so forth. You can earn reductions by filing a grievance with P.T.R.C. Inc. and we will handle the rest. Sometimes your properties valued is overestimated and you are paying more in property taxes than you should be!

Our Fee 
The great thing about P.T.R.C. Inc. is we do not get paid unless you do! If the review boards in Nassau or Suffolk County do not grant a reduction, you will not be charged any labor fees. If you do earn a reduction, we take 50% and you keep the rest! That may seem like a lot, but the relationships we have developed in this industry help us succeed more times than not. Success is our middle name here at P.T.R.C. Inc.

Your Neighborhood
There is an awesome tool on our website that lets you research your neighbors properties and look at the reductions they have earned. This helps estimate your reductions and it is great for us to present to review boards when you case comes up. Check it out here!

If you are ready to fill out an application, we have simplified the process for you on our website. Just go to the link and fill in the information and we will be in touch with you shortly.

If you come across any questions, feel free to call 516/631-484-0654 or email info@ptrc.com!

Why Is P.T.R.C. Inc So Successful?

Success for us comes when our clients are happy and getting their hard earned money back. Success in this field doesn't come easy and we know that first hand. Our almost 30 years in this business have taught us lessons that we apply each and every year and we know the 2019 filing period is going to bring a lot of the same success for our clients: 

Our Payment Structure 

We want to start you off with a little question if we could... Would you work harder if we paid you $100 upfront, or if we said you can earn more based on the job that you do? This is our theory here at P.T.R.C. Inc. We want our talented staff to use all of their abilities to earn our clients the highest possible reduction so they can get their percentage of the reduction. If we don't earn you a reduction, we don't get paid!  

Our Connections 

We have developed relationships over the years with the assessment review boards in both Nassau and Suffolk counties. These relationships help our clients greatly and we are extremely grateful for all the people we get to work with on a daily basis. We have been doing this since 1990 and every year we seem to get better and better. Be sure to grab your piece of the tax reduction pie this year!

Our Staff

Our team has handled over 260,000 assessments over the years and secured millions for our clients. For that reason, we consistently see familiar faces year after year and we continue to see results for people all over Long Island. Getting one reduction is not the end of the line for you! There is money to be made everywhere and our team know exactly where to find it!

If you have never worked with us before, now is a great time to get started! Our team is waiting for your applications and we know that reductions are in your near future. 

Submit your application here and let us know if you have any questions!