Nassau property values rise on new assessment roll

The economic news is gloomy: House sales and prices are down. Retail sales are off, and some economists say a recession is imminent if not already here.

[GregNewYork]

Wow... so the Tax Accessor claims property value is up even though everyone knows the truth is property values are plummetting... to justify raising their property taxes.. LOL...

Where is Big Mouth Peter King on this one.. come on Newsday.. get your ____ in gear and go interview him and ask why is this so?

[Massapequa Homeowner]

My taxes are increasing over 7.5% from an assessed value of $474,400 to $513,600 while property values have decreased approximatey 5%. I have greived my taxes the last 2 years and was denied both times. Dont they realize property values havent increased since the third quarted of 2005? These politicians are trying there best to clear everyone out of LI. Nassau county government is either corrupt or COMPLETELY INCOMPETENT!

[GregNewYork]

I don't know how long this story has been up... but the lack of interest in terms of readers posting comments on this story .. are the reason why Nassau County is going forth and ripping off the Tax Payers once again.

There should be at least 500 posts on this story.. but I bet it won't get anywhere near it...

Sheep.

[Based on what]

Massapequa Homeowner wrote:

My taxes are increasing over 7.5% from an assessed value of $474,400 to $513,600 while property values have decreased approximatey 5%. I have greived my taxes the last 2 years and was denied both times. Dont they realize property values havent increased since the third quarted of 2005?

On what basis did you justify the lower value of your house. Everyone knows real estate prices have decreased, yes, but real estate is a segmented market by nature, and what happens in Detriot does not necessarily mean it happens here.

The only way you can justify a lower property value is to show recent sales (past 18 months) of similar properties in the same school district. Unless those values are equal to or below the amount you think your house is worth, then you don't have a case to dispute your taxes. I am in the same boat as you, believe me, you have to show proof.

You lost your case twice; what did you do to justify your market value?

[Clear Vision]

Average residential property values dropped 8% during 2007. The county increased the assessed value because they need more tax revenues. The assessed value is NOT the value of the property on the market. Nassau county should be sued and forced to correct their data

[Get a load of Haaarvey]

There aren't 500 posts on this because everyone who lived in Nassau has moved out and left their house vacant.
Harvey Levinson is out of touch with reality.

[new yorker]

Nassau county residents whose assesment went up like mine did, even though houses in my area have gone down in value, ought to flood the assesors office with tax grievances....MASSAPEQUA Homeowner is absoutley correct when he states that the Nassau Govermentis either corrupt or incompetent ... it is both....

[Mark]

The numbers used are fabricated. The philosophy is this: Tax them all we can. If nothing is grieved or challenged; we beat them. If they challenge or grieve; we then have to deal with the individual tax payer; something they do not want to do. Or they have to deal with the Attorneys who represent these taxpayers. The best defense the home owner has is to grieve and challenge their assessments each and every year. You are forced to do this just to keep from getting ripped off. The homeowner who does not grieve will continue to see his assessments rise in order to pay for the reductions and refunds given to the homeowners who do grieve. Basically; you've got to be in it to win; or even stand a chance.

[Fuque LeDems]

GregNewYork wrote:

Where is Big Mouth Peter King on this one.. come on Newsday.. get your ____ in gear and go interview him and ask why is this so?

You do realize King is a Congressman and that the US Congress has nothing to do with local property tax assessments, don't you? Nitwit.

[Mark]

Based on what wrote:

<quoted text>
On what basis did you justify the lower value of your house. Everyone knows real estate prices have decreased, yes, but real estate is a segmented market by nature, and what happens in Detriot does not necessarily mean it happens here.
The only way you can justify a lower property value is to show recent sales (past 18 months) of similar properties in the same school district. Unless those values are equal to or below the amount you think your house is worth, then you don't have a case to dispute your taxes. I am in the same boat as you, believe me, you have to show proof.
You lost your case twice; what did you do to justify your market value?

Try to find comps if you can. The market is dead. Nothing is moving. Ask any Real Estate Agent for their recent sales stats. Maybe a house or two. I am going to make a guess that the drop in activity and prices is even sharper than we think.

[ENOUGH]

VOTE NO TO THE SCHOOL BUDGETS THEY ARE SCREWING US OVER VOTE NO NO NO TO MORE TAX INCREASES

[Liar s always lie]

Who's looking out for you hard working Homeowner nitwits.Not the Nitwits.Keep working smucks! They'll keep lieing and taking your money so them in the Government can get Rich$$$$$ on your wallet.Ya all gotta grieve your taxes to get even with Levinson

[WTG]

Fuque LeDems wrote:

<quoted text>
You do realize King is a Congressman and that the US Congress has nothing to do with local property tax assessments, don't you? Nitwit.

While I'm sure the writer was aware of King not being responsible for local assessments, King IS a powerful politician in our nation with TREMENDOUS influence. Surely you don't believe that the bunch of losers we have running our county wouldn't shake in their boots if politicians at the national levels came down on their asses!

Harvey Levinson is an incompetent fool, along with Suozzi, Jacobs, and the rest of our local legislators. I'm only saddened that I voted for them, thinking I was doing the right thing for Nassau County. All along, they planned on solving our financial problems by making us taxpayers pay through the nose. I was fooled into believing they had ideas, and would think outside the box. Any numbskull could have done it their way. I certainly hope they have no intentions of running for any higher office because their record in Nassau is dismal.

[GregNewYork]

Fuque LeDems wrote:

<quoted text>
You do realize King is a Congressman and that the US Congress has nothing to do with local property tax assessments, don't you? Nitwit.

To my understanding... Congressmen represent their districts to the house of representitives in Washington.. and if residents in his / her districts are getting RIPPED OFF BY THEIR LOCAL GOV'T AGENCIES.. I would expect that Congressmen of citizens getting ripped off to... GET HIS FAT ____ INVOLVED... wouldn't you?

Thanks for the name calling by the way.. what did you write..'nitwit'... ok.. I hope you feel proud of yourself now.

[LISTEN UP]

go to propertyshark(dot)com and type in your address. Then select comparable data, this will show you what sales have happened in your area for the past 12 months. This is the ONLY way to properly grieve your housing assesment.

[longislandrenter]

Just because your house value is declining this year it does not mean that the county/town/village govt budgets will decline also. You can grieve all you want, you may win a reduction or you may lose some time trying. However the fact that even if everyone grieved their taxes and received a 10% reduction in assessed value the BUDGETS still grow and grow and the taxes everyone pays must/will continue going up!!! If sales tax revenue declines the way they say it is you will see an increase in your taxes that has nothing to do with your home's value. The bills must be paid and the real estate owners are the target. Long Island is in decline because of taxes which reduce the standard of living of its residents.

[Blame who]

GregNewYork wrote:

Wow... so the Tax Accessor claims property value is up even though everyone knows the truth is property values are plummetting... to justify raising their property taxes.. LOL...
Where is Big Mouth Peter King on this one.. come on Newsday.. get your ____ in gear and go interview him and ask why is this so?

What the heck has Peter King got to do with it? He's a Congressman. He's got nothing to do with the reassesment. Blame the local politicians like our County Executive Suozzi for the mess.

[Nassau Nonsense]

What? You must be kidding me?

[KirkHere]

The MLs report for 2007 showed Nassau housing prices holding steady and not declining. 2007 report also showed only a 2% drop in home sales from 2006.

However Levenson is not our enemy. Rather the banks are our enemy. I added at $54,000 addition to our home in October 2006. That required a $100,000 Home Equity Loan. In September 2006 the bank appraiser came and gave both us an appraisal for $690,000 before the addition was built.

In October of 2007 I decided to check that appraisal against the tide of mis-information that NASSAU COUNTY was entering the center of the storm regarding the Credit Crisis and Sub Prime Scandal. So I went on line and applied for another Home Equity Loan with the exact same bank. MY BANK. I had no intention of taking that loan I wanted a new written appraisal.

Out came the bank appraiser and this time the same bank appraised the home with the new 54,000 addition for $630,000.-$60,000 from the 690,000 theyhad based the addition's loan on and added absolutely no gain for the 54,000 new room. So I estimate my bank cut my equity a GRAND TOTAL of $104,000 in less tyan 13 months.

So I called the bank to complain that one of the appraisals was incorrect. Their answer was no that both appraisals were correct and that due to the sub prime crisis my house and every other house in Nassau County was falling in value therefore the lower appraisals.

So you see my friends the banks are still scamming, skiming and planning. They are writing off billions in losses on their tax returns and decreasing your equity to make up their loses. The banks know the housing crisis will be short lived. So by appraising downward when you sell your home they are picking up that missing 104,000 in equity they took from me.

Now Bank of America has a new feature at their website. You can enter your home's current value and they will advise their estimation of what your home will be worth in 2018 or 10 years from now. So I entered my banks new appraisial number of $630,000 and clicked enter. Bank of America advised the house will be worth $886,000 in 2018.

Then i entered the year ago $690,000 + the 35,000 increase in tax assessment for the new room or 725,000. The Bank of America site came back with a value of 986,000 in 2018.

Every website that evaluates home values places our home's current value between $729,000 and 749,000.

But the mortgager holder has set the value at $630,000. So mr. Levenson will be receiving our grievence with the bank appraisal attached showing his Fair Market Value is wrong. As per the Banking Industry.

However Levenson is probably correct and it is the banks that are lying.

By the way if you have not noticed many banks have increased the closing costs on a mortgage 100%. the fed keeps cutting the prime rate but the banks are not pasing the savings onto mortgage rates but rather hoarding the money. Instead they are utilizing fictiopus new appraisals to make their money from you by decreasing their appraisal on your home.

[Blame who]

GregNewYork wrote:

<quoted text>
To my understanding... Congressmen represent their districts to the house of representitives in Washington.. and if residents in his / her districts are getting RIPPED OFF BY THEIR LOCAL GOV'T AGENCIES.. I would expect that Congressmen of citizens getting ripped off to... GET HIS FAT ____ INVOLVED... wouldn't you?
Thanks for the name calling by the way.. what did you write..'nitwit'... ok.. I hope you feel proud of yourself now.

Peter King is only one of several congress people who represent Nassau County. Why not mention the collectine fat ---s of Steve Israel, Carolyn McCarthy and Gary Ackerman?

But worry not. Didn't Spitzer say last week that Tom Suozzi will be his new go to boy on the case to lower our property taxes?