The United States economy has endured great economic upheaval in the past few years due to Covid 19 and the ensuing labor shortages. Many federal programs are reaching their endpoint, and our nation has suffered inflation on necessary, everyday products, such as groceries.

In tandem with the increased strain comes a wave of property assessments that are slated to be higher in former years. This comes on the heels of an average tax increase of 8% or $2,795 per homeowner in the year 2021 as compared to two years previous.

Higher home values have caused a property tax bill to match, but these can be appealed. It is most beneficial to do so right away and to do your homework with comparative data in the area. You can use Zillow or other real estate listing websites to find homes in your area that have a similar square footage and lot size to yours and take notes.

It is always possible that there has been an error in your case even though, according to Redfin, prices on real estate have risen to 34% above 2019 in December of last year. You can also obtain a real estate assessment from a realtor or from an appraiser to use when appealing your assessor’s decision.

While it will affect your bottom line to pay for these services, consider that your lowered tax bill is a gift that keeps on giving year after year. Request a meeting with your assessor, asking for your property to be reassessed. If they tour your home, you can point out areas where damage has occurred, as they may take the deprecation into account.

You may also qualify for exemptions and programs to assist with taxes, such as AARP’s Property Tax-Aide.

Sokol Group can help initiate the property tax grievance process on your behalf, and we serve those who live in Westchester, Orange, and Rockland counties as well those residing in the Hudson Valley. Please reach out to us for more information of how we can be of help to you.

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