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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
I am totally confused 
Apparently, from tax year 2009/2010 to 2010/2011 our home value has dropped $134,600  The 2010/2011 assessment literally is $200k less than what we paid for our house. *****!!!!
But I LOVE on the back of the letter is says "unfortunately, just because the assessed value of your home goes down, it does not mean that you tax bill will go down"
DH and I were thinking of moving and this may be a good time. This is crazy!
ETA: I am in Merrick. i cannot imagine the home prices dropped in this area the way they did in other areas. i have been keeping track and it seems things have been selling pretty high still.
Will this new number from nassau county affect our ability to sell our home than? This has to be a mistake.
ETA: The best is I appealed the my taxes (their assesssed value of my home) this year and they turned me down saying it was still worth well over $600k. Now, they put out the assessments for 1 yr. later and they are telling me it is worth $475k
Message edited 1/7/2009 2:21:05 PM.
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Posted 1/7/09 2:16 PM  |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Does anyone know how Nassau County determines the value called "Tax Rate per 100 of Assesed Value" ???
If you take your Assesed Value, multiply that by this "Tax Rate per 100 of Assessed Value" then divide that by 100 you get the actual amount of taxes you pay per yet.
But I am curious where they come up with that figure.
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| Posted 1/7/09 2:28 PM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Posted by ave1024
But I am curious where they come up with that figure.
I think any figures the county comes up with they pull out of their A S S E S to be honest.
I grieved my taxes this year and got a letter only 2 months ago stating that our house is still worth well over the $600k mark. Now today, only 2 months later, I get a letter that apparently they figured that our house is going to be worth $134,600 less. Makes absolutely no sense.
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| Posted 1/7/09 2:35 PM |
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Goobster
:)
Member since 5/07 27557 total posts
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:)
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
I jsut got mine too. Value dropped 100,000. THe original market value was not what I could have gotten (I could have gotten much more) b/c it doesn't take into acct what is inside your house or other factors. So I don't put too much stock in that...you could have granite throughout your home and it be in brand new condition inside.The assessment is only based on sq footage, lot size not really individualized.
We too plan to sell, we know we will lose b/c we put in over $100K, but I know for sure I will get a LOT more than what they just said my current assessment is.
Oh and they have NERVE to say the tax bill WON"T drop. I think it will drop though....we will see.
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| Posted 1/7/09 2:42 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Posted by jellybean1420
Posted by ave1024
But I am curious where they come up with that figure.
I think any figures the county comes up with they pull out of their A S S E S to be honest.
I grieved my taxes this year and got a letter only 2 months ago stating that our house is still worth well over the $600k mark. Now today, only 2 months later, I get a letter that apparently they figured that our house is going to be worth $134,600 less. Makes absolutely no sense.
I say grieve them again!!! Let's see what they have to say then.
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| Posted 1/7/09 2:44 PM |
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Kara
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Member since 3/07 13217 total posts
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
I just got mine and I'm not sure if I am going to vomit or cry.
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| Posted 1/7/09 2:47 PM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
well a new assessor was hired for nassau county and everyone is being reassessed. I check mynassauproperties. and everyone's house on my block dropped at least $100k.
I am sure everyone is going to be thrilled. 
http://www.nassaucountyny.gov/agencies/Assessor/NewsRelease/2009/1-6-2009.html
they said to expect everyone's home values to drop by at least 17%.
Message edited 1/7/2009 2:48:49 PM.
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| Posted 1/7/09 2:47 PM |
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mtnmama
Member since 5/06 4794 total posts
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Message edited 1/7/2010 10:41:42 AM.
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| Posted 1/7/09 2:57 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: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
The way they figure out how much taxes you pay is taking the "Assesed Value" which is the number on your form mailed to you, and multiply that by the mysterious "Tax Rate Per 100 of Assessed Value" and then divide that by 1000.
For 2009, the General Tax Rate per 100 of Assessed Value was 276.165 (for every house in Nassau from what I can see).
So on your letter if your Assessed value was 850, you will pay $2347.40 in General Taxes.
For 2008, the Tax Rate per 100 was 267.789.
Now in 2011, my Assessed value is dropping from 960 to 852. So my taxes should drop bigtime.
But who knows as they probably do pull the numbers out of their AZZes so they will probably just raise the Tax rate by 100 number to compensate.
I will say one other thing... they can't raise your taxes by more than 6% per year and 20% over 5 years. They have been raising me 6% every year so they are due for a correction (not raising taxes) since doing so will eclipse the 20% limit over 5 years. That's the LAW.
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| Posted 1/7/09 2:59 PM |
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Kara
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Member since 3/07 13217 total posts
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They call me "Tater Salad"
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
B/c they'll just raise the tax rate to make up for the deficit. The tax assessed value is the way the government determines your portion of the tax burden -- it still raises enough taxes to cover its (out of control) spending.
When will people realize that even our local goverment is too large and inefficient and that spending is out of control.
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| Posted 1/7/09 2:59 PM |
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LIMOMx2
...
Member since 5/05 24989 total posts
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
I just got mine too. I would like to set it on fire
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| Posted 1/7/09 3:08 PM |
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mtnmama
Member since 5/06 4794 total posts
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Message edited 1/7/2010 10:42:03 AM.
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| Posted 1/7/09 3:12 PM |
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Kara
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Member since 3/07 13217 total posts
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They call me "Tater Salad"
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Posted by jellybean1420
Will this new number from nassau county affect our ability to sell our home than? This has to be a mistake.
Honestly, I think it will. While tax assessed value isn't EVERYTHING, it is something that appraisers and homebuyers look at. My fear with our house is that even if we had a buyer for what we paid for it two years ago, they may not be able to get a mortgage. I worry about the appraisal. I know there are many other factors in the appraisal, but I still think it's something that people look at when buying....
I'm lucky that we won't run into a negative equity situation, but am VERY worried what will happen when it's time for us to sell in a few years. We may be here longer than planned...
ETF typo
Message edited 1/7/2009 4:31:06 PM.
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| Posted 1/7/09 3:15 PM |
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lululu
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Member since 7/05 9511 total posts
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
I am mad because they didn't drop mine anywhere near as much as they should have! Only $40k!!! They should have dropped at LEAST $100k!!! We bought at the peak in 2006 and our assessed value is now really close to what we paid. there is NO WAY that we haven't lost a substantial amount of money.
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| Posted 1/7/09 3:50 PM |
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Kara
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They call me "Tater Salad"
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Posted by lululu
I am mad because they didn't drop mine anywhere near as much as they should have! Only $40k!!! They should have dropped at LEAST $100k!!! We bought at the peak in 2006 and our assessed value is now really close to what we paid. there is NO WAY that we haven't lost a substantial amount of money.
Why on earth would you be mad about this? A lower value doesn't equal lower taxes. A lower assessed value won't help you at all. You should be HAPPY.
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| Posted 1/7/09 3:55 PM |
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Rycois
Blessed with 2blue/2pink
Member since 12/05 13341 total posts
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J
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Posted by Kara
Posted by jellybean1420
Will this new number from nassau county affect our ability to sell our home than? This has to be a mistake.
Honestly, I think it will. While tax assessed value isn't EVERYTHING, it is something that appraisers and homebuyer's look at. My fear with our house is that even if we had a buyer for what we paid for it two years ago, they may not be able to get a mortgage. I worry about the appraisal. I know there are many other factors in the appraisal, but I still think it's something that people look at when buying....
I'm lucky that we won't run into a negative equity situation, but am VERY worried what will happen when it's time for us to sell in a few years. We may be here longer than planned...
I don't think so b/c it's like this across the board. It's not like a few house values dropped - they all pretty much did. I think it's all relative.
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| Posted 1/7/09 4:15 PM |
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Kara
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Member since 3/07 13217 total posts
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They call me "Tater Salad"
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Posted by SweetCaroline
Posted by Kara
Posted by jellybean1420
Will this new number from nassau county affect our ability to sell our home than? This has to be a mistake.
Honestly, I think it will. While tax assessed value isn't EVERYTHING, it is something that appraisers and homebuyer's look at. My fear with our house is that even if we had a buyer for what we paid for it two years ago, they may not be able to get a mortgage. I worry about the appraisal. I know there are many other factors in the appraisal, but I still think it's something that people look at when buying....
I'm lucky that we won't run into a negative equity situation, but am VERY worried what will happen when it's time for us to sell in a few years. We may be here longer than planned...
I don't think so b/c it's like this across the board. It's not like a few house values dropped - they all pretty much did. I think it's all relative.
It will still affect the ability to sell even though it was done across the board. Not everyone can accept just any price for their home. So if someone cannot get a mortgage for the amount you want to get for your house then you are likely out of luck selling your house. If your house is worth less than your mortgage debt and you can't afford to make that up yourself when you sell, then you WILL have a problem selling your home.
Obviously you'll be able to sell the house for the tax assessed value -- but only if you can afford to do so. This can affect the amount homes will appraise for which will affect many people's ability to sell their homes for an acceptable price.
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| Posted 1/7/09 4:29 PM |
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lululu
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Posted by Kara
Posted by lululu
I am mad because they didn't drop mine anywhere near as much as they should have! Only $40k!!! They should have dropped at LEAST $100k!!! We bought at the peak in 2006 and our assessed value is now really close to what we paid. there is NO WAY that we haven't lost a substantial amount of money.
Why on earth would you be mad about this? A lower value doesn't equal lower taxes. A lower assessed value won't help you at all. You should be HAPPY.
The assessed value of your house ABSOLUTELY determines how much you are going to pay in property taxes. The lower the assessed value, the lower your taxes. We aren't talking about a bank coming in and assessing our homes. We are talking about Nassau county's assessment. I'm not sure where the disconnect is. Why do you think so many people file a grievance to get the county to lower the assessed value of their home?
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| Posted 1/7/09 5:15 PM |
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SpiceGirl
Dream big
Member since 1/06 2486 total posts
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j
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
When I bought my house last year, I paid $50K less than what the assessed value of the home (Town of Islip). I grieved...and it was denied. Of course I'm appealing, but it's not a given that your taxes will be lowered.
Let's face it. Taxes are going to keep going up...even if home values are coming down.
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| Posted 1/7/09 5:26 PM |
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lululu
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Posted by SpiceGirl
When I bought my house last year, I paid $50K less than what the assessed value of the home (Town of Islip). I grieved...and it was denied. Of course I'm appealing, but it's not a given that your taxes will be lowered.
Let's face it. Taxes are going to keep going up...even if home values are coming down.
That's exactly why I am saying that it is beneficial for you to have the lowest assessed value from the county. Just like you, I am UNHAPPY because i believe my house is worth less than what the county is assessing it for and therefore my taxes are higher than what they should be.
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| Posted 1/7/09 5:29 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: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Posted by lululu
That's exactly why I am saying that it is beneficial for you to have the lowest assessed value from the county. Just like you, I am UNHAPPY because i believe my house is worth less than what the county is assessing it for and therefore my taxes are higher than what they should be.
You can think your house is worth whatever you think.
The bottom line is they are going to assess your house based on other similarly sized houses in your immediate neighborhood.
So if you have a 1600sqft house on a 10000sqft property, your assessed value should be the same as others in your neighborhood.
You might want to go on mynassauproperty.com and see if thats the case. I have found that my assessed monetary value (whether I find it to be inflated or not), is usually on par with other similarly sized houses in my neighborhood.
This is how you can win grievences.
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| Posted 1/7/09 6:03 PM |
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Kissy331
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Member since 5/06 17826 total posts
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
I didn't get mine in the mail today but I looked it up online & I am fuming DH & I filed last year to grieve our taxes & they told us that our market value was correct...Now it dropped $47K for 09-10
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| Posted 1/7/09 6:20 PM |
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babyfaith
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
My understanding of this is that your home value can go down but the tax rate can increase which is why you wouldn't see a decrease in your tax bill.
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| Posted 1/7/09 6:24 PM |
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Serendipity
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PrayingWishingHopingALOT
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Re: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
OMG!!! I cant believe this is the first post bc I just came on to see if anyone else is in the same boat!! Got my letter today too!!!
At least I know I am not alone!!!!
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| Posted 1/7/09 6:29 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: Did anyone get their Nassau Dept. of Assessment 2010/2011 letter today?
Boy the Assessors' office is gonna get SLAMMED with phone calls tomorrow. 
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| Posted 1/7/09 6:58 PM |
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