Is there any way to lower taxes?

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Chanel

Fri, Mar 11 2016, 4:52 pm

I'm looking into buying a house in Monsey. Most houses of interest have extremely high taxes ( bet $20,000-$40,000 yearly). For those of you in the know...Is there any way to lower the cost?

ez-pass

Fri, Mar 11 2016, 5:13 pm

There is a process called grieving taxes that ur realtor may help u do. Those taxes r really high even for monsey.

Maya

Fri, Mar 11 2016, 5:19 pm

Chanel wrote:

I'm looking into buying a house in Monsey. Most houses of interest have extremely high taxes ( bet $20,000-$40,000 yearly). For those of you in the know...Is there any way to lower the cost?

Considering that the average rate of taxes for homes in Monsey is between $10-20K, and knowing that tax rates are based on an assessed value of the home, I would assume you are looking at really, really expensive houses if the rates are that extremely high. If you can't afford to pay the required taxes, perhaps you should be looking at homes with a lower rate.

Seems the only way to lower property taxes is the have the home's value reassessed. There are also loophole/illegal ways, like claiming the house is a shul or other tax-exempt institution.

Chanel

Fri, Mar 11 2016, 5:38 pm

Thank you. What is grieving taxes? And maya, I'm only looking for legal ways.

amother

Magenta

Sat, Mar 12 2016, 7:32 pm

Chanel wrote:

Thank you. What is grieving taxes? And maya, I'm only looking for legal ways.

It will be tough to do this legally because the estimated taxes will be even higher when you buy based on the purchase price rather than the assessed price.

amother

Plum

Sat, Mar 12 2016, 8:45 pm

Chanel wrote:

Thank you. What is grieving taxes? And maya, I'm only looking for legal ways.

Look at houses that are similar to yours in your neighborhood, sqf, bedroom & bathroom. See how much they are assessed. If you find a few similar houses and their assestment value is way less, you can file a grievance at town hall. There is a deadline for it. I was able to lower my taxes after they unfairly raised the assessment value, but it doesnt always work.

There is also a Star program where you can save over $1,000 a year. You need to file for it only once.

amother

Magenta

Sat, Mar 12 2016, 8:48 pm

amother wrote:

Except the actual purchase price will defeat any claims.

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