New York Property Taxes, New York Property Tax Appeals
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New York Property Tax Appeals
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New York Home buyers want to know how much to offer for a house, sellers want to know how much to list a house for. Those seeking a property tax appeal want to know the market value of comparable homes in order to make adjustments to their home's worth. Variations in age, size, condition of the home, and other differences in amenities plus other factors weigh in on the overall market value of a home.
New York real estate agents can offer a CMA (Comparable Market Analysis) for houses in the area. This is a ball park figure. A more definitive figure is arrived at by obtaining an appraisal. A Home Market Value Appraisal gives a definitive value for the specific time frame in which the analysis was conducted. Prices range upward to $350.00 depending on the region in which you live.
Doing your own Home Market Value Appraisal is hardly rocket science. Investigating and doing it yourself will save you money and also give you an edge in negotiating. We suggest checking into the two options listed above (1) and (2).
If you desire to challenge your house property taxes and want to go the professional route, be prepared to open your wallet wide. Besides the appraisal fee, the appraiser will have to charge for a day's time at the municipal review. If you decide on hiring a professional mouthpiece, the attorney will not guarantee the result. You could lose the case and easily lose over a grand in the process. Again, we suggest checking into the two options listed above (1) and (2)
| New York Home Value Demographics | New York | USA |
Housing units, 2002 |
7,754,508 | 119,302,132 |
| New York Homeownership rate, 2000 |
53.0% | 66.2% |
| Housing units in multi-unit structures, percent, 2000 | 50.6% | 26.4% |
| Median value of owner-occupied housing units, 2000 | $148,700 | $119,600 |
| New York Households, 2000 | 7,056,860 | 105,480,101 |
| Persons per household, 2000 | 2.61 | 2.59 |
| Median household income, 1999 | $43,393 | $41,994 |
| Per capita money income, 1999 | $23,389 | $21,587 |
| Persons below poverty, percent, 1999 | 14.6% | 12.4% |
US Census Bureau
New York House Value, Home Appraisal Market Value, Property Tax Appeal Comparable Sales Information
(Statisics compiled from Bureau of Economic Analysis, an agency of the U.S. Department of Commerce)
The population of New York in 2003 was 19,212,425. Its rank was 3rd in the nation. (The District of Columbia is included for ranking purposes.)
PER CAPITA PERSONAL INCOME
In 2003 New York had a per capita personal income (PCPI) of $36,112. This PCPI ranked 6th in the United States and was 115 percent of the national average, $31,472. The 2003 PCPI reflected an increase of 2.2 percent from 2002. The 2002-2003 national change was 2.2 percent. In 1993 the PCPI of New York was $25,143 and ranked 5th in the United States. The 1993-2003 average annual growth rate of PCPI was 3.7 percent. The average annual growth rate for the nation was 4.0 percent.
TOTAL PERSONAL INCOME
In 2003 New York had a total personal income (TPI) of $693,791,440. This TPI ranked 2nd in the United States. In 1993 the TPI of New York was $462,007,920 and ranked 2nd in the United States. The 2003 TPI reflected an increase of 2.5 percent from 2002. The 2002-2003 national change was 3.2 percent. The 1993-2003 average annual growth rate of TPI was 4.1 percent. The average annual growth rate for the nation was 5.1 percent.
Capital: Albany
Regions: Adirondack Mountains | Capital District | Catskill Mountains | Central | Finger Lakes | The Holland Purchase | Hudson Valley | Long Island | Mohawk Valley | Shawangunks | Southern Tier | Upstate | Western
Major metros: Albany | Binghamton | Buffalo | New York | Rochester | Syracuse | Utica
Smaller cities: Amsterdam | Auburn | Batavia | Canandaigua | Corning | Cortland | Dunkirk | Elmira | Geneva | Glen Cove | Glens Falls | Gloversville | Goshen | Hornell | Hudson | Ilion | Ithaca | Jamestown | Kingston | Lockport | Malone | Massena | Middletown | New Paltz | Newark | Ogdensburg | Olean | Oneida | Oneonta | Oswego | Plattsburgh | Port Jervis | Poughkeepsie | Riverhead | Rome | Saratoga Springs | Warwick | Watertown
Counties: Albany | Allegany | Bronx | Broome | Cattaraugus | Cayuga | Chautauqua | Chemung | Chenango | Clinton | Columbia | Cortland | Delaware | Dutchess | Erie | Essex | Franklin | Fulton | Genesee | Greene | Hamilton | Herkimer | Jefferson | Kings (Brooklyn) | Lewis | Livingston | Madison | Monroe | Montgomery | Nassau | New York (Manhattan) | Niagara | Oneida | Onondaga | Ontario | Orange | Orleans | Oswego | Otsego | Putnam | Queens | Rensselaer | Richmond (Staten Island) | Rockland | Saint Lawrence | Saratoga | Schenectady | Schoharie | Schuyler | Seneca | Steuben | Suffolk | Sullivan | Tioga | Tompkins | Ulster | Warren | Washington | Wayne | Westchester | Wyoming | Yate
Report: Medicaid cap steadies county property taxes statewide
ALBANY, N.Y. New York state's rising county property taxes remain largely the result of a costly Medicaid system.
That's according to a report released today by state Comptroller Alan Hevesi.
The report says county property taxes continue to go up even after a Medicaid cap this year cut local contributions into the program.
Taxes were going up 7 percent a year before the cap. After the cap, taxes went up 3-point-3 percent.
Medicaid spending by counties grew by 66 (m) million dollars this year. That accounts for roughly half the 131 (m) million dollar increase in county property taxes statewide. For complete story click New York Property Tax
High taxes? Blame officials and voters
The Rauch poll, conducted by the Stony Brook Center for Survey Research during the summer, found that a mind-blowing 95 percent of Long Islanders ranked high property taxes as a serious problem, with 41 percent citing taxes/property taxes as the most important local woe. Nothing else was even close. A huge 85 percent of those surveyed rated their property taxes as too high, and 54 percent noted that it's difficult to pay monthly housing costs.
As for government services that local residents receive for their big property tax bills, 62 percent rated the value as fair or poor. It's not surprising, therefore, that 56 percent said they would consider moving off Long Island to places with lower housing costs and taxes in the next five years.
"... our state legislators over the years have socked public schools and local government with all kinds of mandates. That's always fun and easy for a politician - take credit for a new program and let somebody else pay for it. State politicians obviously don't care about slicing away at mandates or layers of government. Instead, they pander to public-sector unions that contribute lavishly to political campaigns, and hit residents with heavy state taxes as well.
Unfortunately, fingers must be pointed at both Democrats and Republicans, since neither party has exhibited any broad political leadership on reducing taxes." Raymond J. Keating For complete article click New York Property Taxes
New York Property Taxes, New York Property Tax Appeals
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