Hello David,
Thanks for responding to my blog. Yes, if everything remains the same and your assessed value went down (in a perfect world) your tax bill would go down. The county/town would have to collect your share of lost revenue from another source because like you stated the loss must be made up to pay the bills. The current situation across Nassau County is that most of the houses had assessments that were way off base and not a true reflection of their current market value. Many homeowners were grieving their assessments and winning. The grievances were costing Nassau County a lot of money. So the county lowered the assessed value of most homes in the 2010/11 tax year to “fix” this problem. To pay the bills the county increased the tax rate. This combined with greater expenses for the coming years could lead to people paying more than they did before. If you don’t mind I going to post your question on my blog. This whole assessment thing is very confusing and I believe many others would benefit.
Sincerely Yours,
Mark Schreier
Licensed Sales Associate
Certified Buyer Representative
Century 21 Prevete Real Estate
(516)263-9094
Web site: www.TopLiRealtor.com
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