Queens, NY – In response to widespread concerns and confusion among homeowners about property tax assessments, Assemblywoman Nily Rozic (D,WF-Flushing) hosted a Property Tax Assessment Workshop today with the New York City Tax Commission and the New York City Department of Finance. With the deadline for property tax assessment appeals quickly approaching, homeowners from across Rozic’s district learned how to challenge their property’s assessed value and filled out appeal applications on-site.
“More than any other tax, property taxes are among the most burdensome expenses for Queens residents and business owners,” said Assemblywoman Rozic. “In order to curb the rise of property taxes, which for years has seemed beyond control, I organized a workshop to provide clarity, and bring government agencies directly to our community to assist homeowners.”
The New York City Department of Finance is responsible for assessing the value of all properties, collecting property taxes, and maintaining records. Every year, Department of Finance mails NYC homeowners a Notice of Property Value with important information about a property’s Market and Assessed Values. New York City’s property tax rates are then applied to the Assessed Value and calculated for the following year. Rates in the City are divided into four classes according to the Assessed Value of the property. For 2013, the rates were: Class 1, 19.191%; Class 2, 13.145%; Class 3, 11.902%; and Class 4, 10.232%.
Staff from the NYC Tax Commission and NYC Department of Finance were on-hand to answer questions in an effort to bridge the divide between city agencies and local residents, Rozic added. Translation services were also provided in Spanish, Mandarin and Korean.
Preliminary figures released in January show that tax-assessment rolls were set to rise by 6% beginning in July – more than the City has been projecting. For many homeowners, that would mean significantly higher taxes.
Homeowners can challenge their Assessed Value by filing an appeal with the NYC Tax Commission that can reduce a property’s assessment, change a tax class or adjust exemptions. The deadline for Tax Commission appeals for is March 3rd for Classes 2, 3, and 4 and March 17th for Class 1.
If homeowners have any questions, they are encouraged to contact Rozic’s office at 718-820-0241 or firstname.lastname@example.org.