Wednesday, October 20, 2021

Why Are My Property Taxes so High?

 


It is not uncommon for people to wonder why their property taxes are so high. When you compare the tax rates of other states, they are usually lower than in New York. And, let's face it, property taxes on Long Island are not always cheap. Why is that the case? We have a few answers for you and what you can do to help lower these prices.
 

Close Proximity to the City

Property tax rates vary across different towns and cities on Long Island, but they all remain high due to the high demand for living space close to New York City. Commuting to and from the city is easy through public transport, such as the LIRR, and by driving.
 

Higher Home Values

Rising home values have resulted in higher assessments and property taxes for homes. Specifically, the way property taxes are calculated is based on two factors: market value (based on recent sale prices) and assessments (the price that assessors set for each property). With this, it's no wonder that your property taxes go up every year.
 

Local Municipalities

Local municipalities can increase or decrease your property tax rate based on how much they need for schools, road work, and services from government-funded programs such as police and fire departments. These factors tend to change every year, so keep an eye out for how they affect your property taxes.
 

What You Can Do

It can be stressful dealing with increases in your property taxes every year. You've got a lot on your plate to juggle, and those high bills are not something you want to have to deal with. Luckily, the team here at P.T.R.C., Inc. is ready to help you get those numbers lowered!

Since 1990, we have worked with both homeowners and taxing authorities with an unsurpassed ability to communicate, facilitate and achieve great success in the assessment challenge process.

Contact Us For Property Tax Reduction on Long Island

Here at P.T.R.C., Inc., we are determined to help our clients pay the lowest amount of property tax as required by law. Contact us today to see how we can help you: info@ptrc.com

No comments:

Post a Comment