In most jurisdictions property taxes are used to finance the school districts, as well as for other purposes such as financing public libraries. These property taxes are usually based upon a property’s “fair market value” which is generally defined as the amount of money a buyer would be willing to pay a seller for property offered for sale on an open market, over a reasonable amount of time, where both the buyer and seller are well informed and neither is under pressure to act. Accordingly, property taxes may change from year to year not only as a function of changing tax rates but also as a function of changing market values.

There are generally a number of ways in which a homeowner may attempt to reduce his/her property taxes. Frequently there are special exemptions that are available to qualified applicants and may include exemptions for senior citizens, veterans, physical disabilities, home improvements, as well as the basic and enhanced STAR exemption (The New York State School Tax Relief Program). Information regarding the specific property tax exemptions that might be available within a particular jurisdiction (as well as the related requirements) generally can be obtained by contacting the local assessing authority. For example, in Nassau County relevant information can be obtained by contacting the Nassau County Assessors Office at (516) 571-1500 or online at www.mynassauproperty.com

Property taxes can also be challenged based upon a claim of over-assessment – that is, a claim that the amount of property taxes for a specific property are higher than those which are justified by the property’s current market value.

Property owners can challenge their assessments or, if they prefer, can hire an attorney who specializes in such property tax reduction work. Generally speaking, most attorneys who work in this area (certiorari attorneys) charge a fee that is based upon the savings that they achieve for a property owner (i.e., a contingency fee).

The procedures and deadlines for challenging a property tax assessment may differ from jurisdiction to jurisdiction and from one property type to another (i.e., residential, commercial, industrial, vacant land, etc.). Interested individuals should consult the local assessing unit and/or an experienced certiorari attorney.