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Forum
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-> New York related Inquiries
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amother
Burgundy
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 Sun, Nov 05 2017, 10:29 am
Ive been told Im paying on the high end of real estate taxes for my 30+ years old 3 family house in Brooklyn.
Why are others paying less?
What can I do?
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doctorima
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Sun, Nov 05 2017, 11:06 am
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There's something called a STAR deduction or credit that you can get depending on your income that will reduce your propety taxes at least a little bit. Google it for more details and application forms.
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amother
Burgundy
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Sun, Nov 05 2017, 12:13 pm
| doctorima wrote: | | There's something called a STAR deduction or credit that you can get depending on your income that will reduce your propety taxes at least a little bit. Google it for more details and application forms. |
I just spoke to someone who applied for a Star reduction and got a reduction of about $100 a quarter.
I pay over $4,000 a quarter for a 30+ y.o. 24' 3 family house in the center of BP.
Does that sound right?
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cip
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Sun, Nov 05 2017, 1:33 pm
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That does sound high. Is it a legal 3 family home or more? If it was converted to a legal 1 family (one kitchen..) then you can look into changing it. It's a long process but worth it . Are your neighbors paying similar?
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amother
Tan
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Sun, Nov 05 2017, 2:19 pm
| cip wrote: | | That does sound high. Is it a legal 3 family home or more? If it was converted to a legal 1 family (one kitchen..) then you can look into changing it. It's a long process but worth it . Are your neighbors paying similar? |
I think it sounds about right. The home is worth over 1 million dollars, closer probably to 1.5. Property taxes are based on the assessed value of the home. Your yearly tax assessment describes how it came to it.
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