Tax Grievance (Appeal) Appraisals In Suffolk County New York Many homeowners feel that their assessed values are way out of touch with the current market values of their homes. In today’s world an artificially inflated assessment usually means unrealistic property taxes are being paid by you. Many homeowners feel that their property taxes are way too high. Since property taxes are based on the assessed value assigned to your home it is important that, you, as the owner understand both the process and available solutions to remediate your situation. For further information about the process The NY State Office of Real Property Tax Services has several Videos on their website. These may help you understand the entire Assessment and Real Property tax systems. They are located at the page linked below. http://www.orps.state.ny.us/video/index.cfm As property values have dropped so have the market value of your home. The assessed value of your home should be tied to recent neighborhood sales of similar homes. Of course the Townships don’t automatically lower assessed values reflecting these sales. It is up to the homeowner to pay attention and take appropriate actions as many current assessed values are way out of touch with the current market values. In today’s world an artificially inflated assessment usually means unrealistic property taxes are being paid by you. There are several different options which can be taken by the homeowner in these instances. One option is to have an appraisal performed by a New York State Certified Real Estate Appraiser to present to the town when filing your Tax Grievance paperwork. This type of report is the one of the strongest weapons available to Homeowners in Tax Reduction cases that can be presented to the Township. If you decide to utilize an appraisal to help your cause, be sure to use an appraiser who is experienced in these types of reports as they differ from lending types of reports. Also be sure that the appraiser that you are contacting is the same one that will be coming to see your property. Some firms use runners or trainees to perform property observations taking notes and pictures of your home instead of the real appraiser that should be performing the services that you are paying for. Tony’s Appraisal Services is a one man appraisal firm so you know that the appraiser you contact is the same one who will be meeting you at your property. I have performed these types of Tax Grievance appraisals within every Township in Suffolk County. Fees for these reports start at $300.00. Depending upon the complexity of your property some fees will be higher. You can always call for a fee quote and a discussion of your situation. For additional information and grievance information visit www.orps.state.ny.us. Below is information regarding the Assessment Appeal Process. If you believe your assessment is incorrect, contact the Assessor’s Office of the Township that you live in and discuss your concerns regarding your assessment. Be sure to ask them which type of Tax Grievance service will work best. Most of the time they will tell you that an appraisal by a Certified Appraiser is the best choice. If you are planning to file a Tax Grievance with the Assessor’s office you may find the following information helpful you prepare for a meeting with the Towns Assessor so that they may understand your situation. This information comes directly from a Towns Assessor’s office. 1) Recent purchase contracts; 2) Recent sales of similar homes in your neighborhood; 3) Appraisal of your property, using applicable valuation date (usually prior July 1). For your convenience I have added the following links to allow you to find the Assessor’s offices of the 10 Suffolk County Townships. Following the links will give you phone numbers and in some instances, additional information to help you. Assessors Dept. by Township: Babylon: http://www.townofbabylon.com/departments/details.cfm?did=4 Brookhaven: http://www.brookhaven.org/Departments/Assessor/Assessor.aspx East Hampton: http://www.town.east-hampton.ny.us/HtmlPages/Assessors/AssessorsHome.htm Huntington: http://town.huntington.ny.us/department_details.cfm?ID=26 Islip: http://www.townofislip-ny.gov/departments/assessor Riverhead: http://www.riverheadli.com/assessor.html Shelter Island: http://www.shelterislandtown.us/assessment.ihtml Smithtown: http://www.smithtowninfo.com/Assessor'sOffice/ Southampton: http://www.southamptontownny.gov/content/760/762/766/default.aspx Southold: http://southoldtown.northfork.net/assessors.htm PMI REMOVAL; A popular money saver for homeowners in the last few years is to get the PMI removed from their mortgage loan, thus saving them money on their monthly payments. PMI stands for "Private Mortgage Insurance". Once your mortgage loan amount is down below 80% of the value of your home, in most cases you can apply to the lender to have the PMI removed from your loan, which will make your monthly payments go down. We are experienced in helping folks just like you rid themselves of unneeded and unwanted PMI insurance. Addition links for information of PMI Removal; http://www.frbsf.org/publications/consumer/pmi.html http://www.privatemi.com/loanoptions/benefits/law.cfm