Thursday, September 27, 2018

What is a Property Tax Grievance?



Long Island has some of the highest property taxes in the United States. Much of these property taxes are used to fund the local schools which can be a significant factor in determining the value of a home. This makes the higher property taxes that you pay someone of an investment in the desirability of your local community and a contributor to your home value. However, there are several different ways that you can reduce your property tax burden.

Make Sure You Apply for STAR 

The STAR credit is given to homeowners in Long Island and can lower your taxes. If you have never applied for the credit or have just bought your home, you will need to apply for the credit which is a quick and easy process. Spend some time reviewing your application for this credit and be sure to apply for STAR if you have not.

Manage Your Home and Property 

Certain home improvements can greatly increase the property taxes charged on your home. For example, a pool will greatly increase your property taxes as will any sort of home expansion. If you are looking to manage the property taxes that you pay, be sure to consider increases in your property taxes due to any major work that you have done on your home.

File a Property Tax Grievance 

While all homeowners will pay some portion of property taxes, the actual amount will range widely based on the size of your home. Sometimes, however, the amount charged is not equitably divided to the varying homes in any Long Island town and some homeowners spend more than is their fair share.

To address the risk for this, homeowner’s, or their representatives, can file a property tax grievance to lower their property tax share. A property tax grievance will commonly identify some adjust calculation of a home value and use a number of factors as evidence of this unjust allocation of the property tax burden including comparables to similar nearby homes, property assessments and valuations of a home by an appraiser, and a review of the home in the government database for inaccuracies.

A property tax grievance shouldn’t be filed by a homeowner without the help of a professional. Professionals like Property Tax Reduction Consultants (PTRC) have the available information to lobby for a tax reduction. They also have contacts to communicate the tax grievance and make sure the complaint is addressed quickly and hopefully in your favor. Contact PTRC on their website or at 516-484-0654 and lower your Long Island property tax bills.

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