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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Nassau property taxes
Someone please make sense of this for me. I have my bills from last year that show what we paid in property taxes. The info on mynassauproperty.com reflects what our statements show. For 2011-2012 it is showing a lot less on mynassauproperty.com as well as the first statement we received. DH swears there is no way our taxes could have dropped so much compared to last year.
On mynassauproperty.com the assessed value number went from 1,073 to 889. I believe when the county calculates our taxes they multiply it by this number. And to me this is why our taxes are lower. Is this correct? Please help! I'd call my bank but they don't have weekend hours in the mortgage department.
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Posted 4/2/11 9:38 AM  |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: Nassau property taxes
Be careful! The assessd value may have gone down but the taxable rate may go up to keep the amount of taxes you pay the same.
the county is not going to lose out on tax dollars because the market took a terrible turn.
i'd like to know the "technical" answer to your question though...
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| Posted 4/2/11 9:49 AM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: Nassau property taxes
Posted by rkoenke
Be careful! The assessd value may have gone down but the taxable rate may go up to keep the amount of taxes you pay the same.
the county is not going to lose out on tax dollars because the market took a terrible turn.
i'd like to know the "technical" answer to your question though...
I know, it doesn't make sense to me! Our receipts from January show a lesser amount than what we paid last year. Even mynassauproperty.com shows lower. We do have Basic STAR now but this is more than that exemption!
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| Posted 4/2/11 2:19 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: Nassau property taxes
Taxes are calculated using the following formula:
assessed value X total tax rate = taxes paid
The reason your 11/12 taxes look lower now is because the 2011/12 tax rates are not out yet but the 11/12 tentative assessment is. Tax rates for the 2011/12 tax year will be published as follows: October 1, 2011 for the 2011/12 school tax year and January 1, 2012 for the 2012 general tax year.
The tax rates for 2011/12 will likely be increased because of the drop in assessed values county wide. Just because your assessment drops in a subsequent year it's no guarantee you will be paying less in taxes.
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| Posted 4/2/11 6:25 PM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: Nassau property taxes
Posted by Mill188
Taxes are calculated using the following formula:
assessed value X total tax rate = taxes paid
The reason your 11/12 taxes look lower now is because the 2011/12 tax rates are not out yet but the 11/12 tentative assessment is. Tax rates for the 2011/12 tax year will be published as follows: October 1, 2011 for the 2011/12 school tax year and January 1, 2012 for the 2012 general tax year.
The tax rates for 2011/12 will likely be increased because of the drop in assessed values county wide. Just because your assessment drops in a subsequent year it's no guarantee you will be paying less in taxes.
Thank you! So basically because we're showing lower now doesn't mean come Oct. 1st we'll be the same.
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| Posted 4/2/11 8:08 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: Nassau property taxes
Posted by Mici C
Posted by Mill188
Taxes are calculated using the following formula:
assessed value X total tax rate = taxes paid
The reason your 11/12 taxes look lower now is because the 2011/12 tax rates are not out yet but the 11/12 tentative assessment is. Tax rates for the 2011/12 tax year will be published as follows: October 1, 2011 for the 2011/12 school tax year and January 1, 2012 for the 2012 general tax year.
The tax rates for 2011/12 will likely be increased because of the drop in assessed values county wide. Just because your assessment drops in a subsequent year it's no guarantee you will be paying less in taxes.
Thank you! So basically because we're showing lower now doesn't mean come Oct. 1st we'll be the same.
Right. Your ASSESSMENT will be lower, but you won't know for sure if your taxes will be until the tax rates are published.
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| Posted 4/3/11 9:08 PM |
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