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Rycois
Blessed with 2blue/2pink
Member since 12/05 13341 total posts
Name:
J
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Home improvement tax exemption
Someone posted the form, but I've searched the internet and can't seem to find how this works/instructions/deadline, etc. Does anyone have more information?
Thank you
Message edited 8/18/2010 12:04:58 PM.
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Posted 8/18/10 12:04 PM  |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Home improvement tax exemption
You are not talking about the $1500 tax deduction for doing home improvements, right?
Do you have a tax accountant? I would call him/her
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| Posted 8/18/10 1:04 PM |
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Rycois
Blessed with 2blue/2pink
Member since 12/05 13341 total posts
Name:
J
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Re: Home improvement tax exemption
No, I'm talking about the form to have your tax increase (from home improvements) go up slowly over the course of 8 yrs.
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| Posted 8/18/10 1:08 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: Home improvement tax exemption
I would call an accountant.
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| Posted 8/18/10 1:14 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Home improvement tax exemption
Posted by SweetCaroline
No, I'm talking about the form to have your tax increase (from home improvements) go up slowly over the course of 8 yrs.
You should be calling Town of Hempstead to get that information/paperwork.
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| Posted 8/18/10 1:32 PM |
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Rycois
Blessed with 2blue/2pink
Member since 12/05 13341 total posts
Name:
J
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Re: Home improvement tax exemption
Posted by ave1024
Posted by SweetCaroline
No, I'm talking about the form to have your tax increase (from home improvements) go up slowly over the course of 8 yrs.
You should be calling Town of Hempstead to get that information/paperwork.
Thank you - I found this on the website for anyone interested.
Home Improvement Exemption
The Home Improvement exemption is an eight-year decreasing exemption on alterations, reconstruction or improvements which increase the assessed value of a one or two family home. The value of the home improvement must be at least $3,000, and is limited to $80,000 in increased market value. The project must be completed before an exemption is granted. Exemptions apply to county, town and special district taxes. School districts may opt out of this exemption. In the first year, 100 percent of the assessed value of the improvement is exempt. In the second year, 87.5 percent, in the third year, 75 percent and so on.
Home Improvement Tax Exemption applications may be obtained from the Nassau County Department of Assessment by calling (516) 571-1500 or visiting their office located at 240 Old Country Road in Mineola.
Message edited 8/18/2010 4:15:45 PM.
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| Posted 8/18/10 1:59 PM |
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Rycois
Blessed with 2blue/2pink
Member since 12/05 13341 total posts
Name:
J
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Re: Home improvement tax exemption
Posted by smdl
I would call an accountant.
Sorry - to clarify, it's a property tax issue.
Tx Ave1024 - I found some info on the TOH site.
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| Posted 8/18/10 2:36 PM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: Home improvement tax exemption
Posted by SweetCaroline
Posted by smdl
I would call an accountant.
Sorry - to clarify, it's a property tax issue.
Tx Ave1024 - I found some info on the TOH site.
is this just for Nassau county residents or suffolk as well?
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| Posted 8/18/10 2:45 PM |
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KLSbear
LIF Adult
Member since 1/06 1908 total posts
Name:
Karen
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Re: Home improvement tax exemption
Posted by HeatherRose
Posted by SweetCaroline
Posted by smdl
I would call an accountant.
Sorry - to clarify, it's a property tax issue.
Tx Ave1024 - I found some info on the TOH site.
is this just for Nassau county residents or suffolk as well?
It's a NY State program but administered through your town - kind of like the Star program. We applied after we got our CO, unfortunately the final info came through just before the deadline so we got nailed for the first year, then next year we'll get the reductions for the following 8 years.
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| Posted 8/18/10 8:55 PM |
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