My husband just reminded me that our tax assessment went up. AGAIN! And this is before our town passed a 6.5% school tax hike. Soooo, I thought of all you – my followers and visitors – and realized that this topic is worthy of another post. Property tax grievance season is upon us, ladies and gentlemen, and I want to make sure you’re ready to take action.
In my video below, I walk you through exactly how to calculate your property taxes and show you step-by-step how to file a grievance if you think you’re overpaying.
🎥Property Tax Tutorial
Why You Should Care About Property Tax Grievance
If you’re a homeowner in New York, you might be paying more in property taxes than you should be. A grievance allows you to challenge your property’s assessed value with your local tax assessor’s office. If successful, you could lower your assessment and save hundreds or even thousands of dollars each year.
The filing window opens soon, and you don’t want to miss it.
Who Should File a Grievance?
You should consider filing a grievance if:
• Your assessment is higher than comparable homes in your neighborhood
• Your property has significant issues (damage, flooding, structural problems) that weren’t considered
• Your assessment increased without a clear reason
• You’ve done research on recent sales and your home is overassessed
How to Calculate Your Property Value (For Grievance Purposes)
To find out if you’re over-assessed, you need to calculate your property’s true market value using this formula:
Assessment / (RAR x 100) = Property Value
Step 1: Find Your Residential Assessment Ratio (RAR)
Your town’s RAR (or equalization rate) is published by the local assessor’s office. You can usually find this on your town’s website or by calling the assessor.
Step 2: Get Your Assessed Value
This is the value your property was assessed at for tax purposes. Check your tax bill or your municipality’s most current assessment roll.
Step 3: Do the Math
Example:
• Assessed Value: $10,600
• Equalized Rate: 1.05%
17,500/.0106 = $1,009,524
📌Grievance Filing Window: Don’t Miss It!
In most New York towns, the grievance window begins sometime between May and June and lasts only a few weeks – like Brigadoon. You have a very limited window until the to file your grievance application for the upcoming tax roll (which is usually finalized by September). So act quickly. Check your local town’s deadline — some towns have different dates, and missing the window means you have to wait another year.
How to File
You can file a grievance yourself for free. You will need to contact your local municipality’s assessor’s office or check the website for the grievance filing window. You will then fill out an RP-524 and submit it. You will need supporting evidence of your property’s true worth, like a recent appraisal, deed (if within 12 months of purchase) or comparative market analysis performed by a real estate specialist. It can get time consuming because you may need to file an appeal if the initial application is denied or full relief isn’t granted, in which case you will go through a SCAR (Small Claims Assessment Review) hearing. The good news is that the typical fee to have someone file on your behalf is not terrible. Usually, it’s in the neighborhood of 50-75% of the first year’s savings, and it’s paid on a contingency basis. Real Estate attorneys often assist with this, and there are many grievance services advertised if you google it. And of course, if you are in any of the regions he covers, Rich O’Donnell is my go-to. But you can do it yourself if willing to put forth the time and effort.
Ready to File?
If, after watching my video and calculating your taxes, you think you’re over-assessed, file your grievance. It’s free, it’s your right as a homeowner, and the potential savings are worth the effort.
If you’re not sure, feel free to reach out — I’m happy to walk you through it or point you to the right resources.
Have questions about property taxes or the grievance process? Drop me a comment or send me a message. I’m here to help you keep more money in your pocket! 💰
This post is for informational purposes only and does not constitute tax or legal advice. Always verify information with your local assessor’s office or a qualified tax professional.
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