Posted by Amy in NY on 20:24 Jul 11
All of the properties in our town were reassessed this spring and our taxes will now be based on full market value which is new for us. Our assessment went from 89,000 to 191,800. We weren't able to meet with the company that did the reassessing in March and went to grievance night with the town in June. I just got a letter today stating that our grievance was denied and the assessment holds. Our home has been overvalued and the market here is in a slump. So the next step is to file the paperwork with the county and meet with a hearing officer. We need good, solid documentation as to why we are over-assessed. A realtor friend has offered to put together something for us but I was wondering if we should pay for a separate assessment. Any advice?
BTW, if this assessment holds, we are going to most likely have to sell. Dh's business is just starting to get off the ground and for the first time in two years, we can pay the bills we have on his income. I don't want to have to return to work to pay property taxes which in turn will increase our income tax. And if we sell, we won't qualify for a mortgage and it will be back to a townhouse/rental.
Boy, do I love New York!
Amy