3 steps to appeal your property taxes

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Q: I bought my house in 2011, in a down market, but I paid too much. Can I get my taxes lowered by pointing out comps in my area to the tax assessor during the period they accept tax grievances? --Jack S. Q: My taxes were raised by almost $2,000/year last April. Can you tell me how to appeal or reduce that? --Sameh G. A: Jack, you feel that the value of your home has declined or is otherwise lower than what you paid for it. Sameh, your home's value appears to have increased -- or at least your tax assessor thinks it has. Although it sounds like the two of you are in roughly opposite scenarios, you both must go through essentially the same process to achieve your identical goal: lowering your property taxes. Here are the three basic steps you should take: 1. Research the tax appeal guidelines that apply to your home. Every locality is different, but the general rule is that your local (usually county) tax assessor determines the assessed value of your home based on its mark...