Tax appeal

I converted a 4-unit TH to single-family in 2006/2007\. When looking at the market value of later-renovated and larger single-family on the block (so they received their C of O after me), they have lower market values (50%) and subsequently lower assessment and lower property taxes. Can I use this as grounds of appeal, even though my stated market value is the most accurate? To summarize, my “market value” is 5,000,000. A larger property (renovated after mine with change of C of O0 has a “market value” of 2,500,000. Even though my “market value” is more accurate, can I use this to appeal? I should also add that I am paying the highest taxes on the block, even though I don?t have the highest market value because my assessment value is closest to the 6% max for single family. Can I argue that this is an inequality? That the assessment-market value ratio for other class 1 properties in my neighborhood is much lower?

guest4

in Taxes 9 years ago

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Arkady | 9 years ago

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The appeal form explicitly says that’s not a reason but I’d go to the seminar mentioned above as well as the one given by the city in Feb. to see if there’re other approaches you can take.

housepoor | 9 years ago

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For what is is worth, Vandenberg (the brownstone-focused RE agent) will be sponsoring a seminar “REDUCE YOUR TOWNHOUSE TAXES” on November 11th at Dorot, 171 W 85th Street, 7-9pm. A link to the seminar is [here](http://www.townhouseexperts.com/openhouses.asp?area=new). I have heard the speaker, Peter Blond, once before and he is very knowledgeable. You need to sign up for the seminar by calling Vandenberg or emailing. My experience has been that unless there was a mistake made, neighbors with lower taxes isn’t a reason to lower your’s. Like resident2 said, your permit and CofO paperwork may have triggered the increase. Good luck…

xchx | 9 years ago

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I heard that there’s no harm in appealing – like the worst that happens is your taxes stay the same.

resident2 | 9 years ago

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It sounds like you were re-assessed based on your capital improvements. You moved into a lower tax class, but opened up the opportunity to reassess based on the improvements. This number is based on how your architecht/contractor filed for your building permits. Your neighbors possibly did not get a new C of O or did not disclose how much they actualy spent on their “improvements”.

guest4 | 9 years ago

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I should also add that I am paying the highest taxes on the block, even though I don’t have the highest market value because my assessment value is closest to the 6% max for single family. Can I argue that this is an inequality? That the assessment-market value ratio for other class 1 properties in my neighborhood is much lower?