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Sherwood
LIF Adult
Member since 8/08 1643 total posts
Name:
s
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So I challenged my assessment and won....
but for some reason, the assessed value is now $100K LESS than the other houses in the neighborhood, according to mynassauproperty 
The original assessment was about $30K more than the other houses in the neighborhood, which I why I challenged it. I was expecting it to come back down to aruond the same value as the other houses around us. $100K seems extreme.
Not that we're planning on selling anytime soon, but does anyone know what, if anything, this does to the value of my home?
Message edited 1/17/2013 9:13:20 AM.
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Posted 1/17/13 9:11 AM  |
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Lori11514
LIF Infant
Member since 11/10 229 total posts
Name:
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So I challenged my assessment and won....
The assessment for tax purposes and an appraisal for real estate purposes are two different things. If anything, it will help that your taxes are lower than your neighbors!
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| Posted 1/17/13 9:23 AM |
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Mill188
LIF Adult
Member since 3/09 3072 total posts
Name:
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Re: So I challenged my assessment and won....
It means absolutely NOTHING!
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| Posted 1/17/13 9:33 AM |
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JDubs
different, not less
Member since 7/09 13160 total posts
Name:
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Re: So I challenged my assessment and won....
That is good, it means you are getting taxed less than other houses in your neighborhood.
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| Posted 1/17/13 10:04 AM |
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Re: So I challenged my assessment and won....
Posted by Lori11514
The assessment for tax purposes and an appraisal for real estate purposes are two different things. If anything, it will help that your taxes are lower than your neighbors!
This is true - the assessed value doesn't equal or reflect real estate fair market value. Any appraiser or real estate agent will look to recently closed sales of comparable homes in the area to derive the value of your home.
Sometimes buyers will look at the mynassauproperty site if the home is in Nassau and comment on the assessed value, but I always explain that it's pretty much irrelevant to the true value of the home. And most people "get it." It's pretty well known that many people grieve their taxes these days, which drives the assessed value down.
Congratulations on your successful grievance!
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| Posted 1/17/13 12:26 PM |
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Sherwood
LIF Adult
Member since 8/08 1643 total posts
Name:
s
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Re: So I challenged my assessment and won....
Thanks everyone!
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| Posted 1/17/13 1:11 PM |
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jenz1120
LIF Infant
Member since 5/09 54 total posts
Name:
Jennifer
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Re: So I challenged my assessment and won....
I am so glad you posted this because I just received my assesment letter in the mail and I knew I won but didn't realize the value would go down sooo much.
Thanks again!
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| Posted 1/18/13 11:59 AM |
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