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Why is my property over-assessed?
Quite simply, assessed home values have NOT been adjusted by your town or municipality to reflect the downward trend in real estate values over the past few years. And, when your home is over-assessed, hikes in property tax rates will have your taxes creeping up at an even greater rate.
Do I have the right to appeal?
You can bring a claim to a local Assessment Review Board, but few homeowners actually do. Most contract an agent who knows how to navigate the courts: How must forms be completed? What types of evidence are acceptable? How much of a reduction can realistically be expected? We do the paperwork, we know what mistakes to avoid and we make the court appearances for you.
How does it work?
When you sign and return the enclosed Authorization for Representation agreement we do a free computer analysis of homes which recently sold in your area. If your case is worth pursuing we send you a letter outlining next steps and requesting additional information.
What does it cost?
There is absolutely NO CHARGE until we succeed in reducing your property taxes. Our fee of 70% of the first year's reduction is payable AFTER you receive notification from the court that your assessment has been lowered.
How much can I save?
As an example, if we lower your taxes by $1,000 per year, you pay us $700 and keep $300. In all subsequent years you keep 100% the savings (which increase each year as tax rates go up).
Could my taxes be raised as a result of this process?
NO! They can only stay the same or decrease. They cannot go up. And, your home will not be reassessed again until the very infrequent event of a town-wide reassessment, or if you do major home improvements.
Why Bruce Sokol & Associates?
We originated this service over 20 years ago and have maintained our market leadership, achieving a 95% success rate for over 3,000 clients. Few companies, including most law firms, can match our knowledge of the local real estate markets and municipal courts. We have taken over 2,000 cases to the NY State Supreme Court - where we negotiated a settlement for about 1,500 cases and took about 500 to trial - so local assessment review boards know we will not settle for a lower tax reduction than our clients are entitled to.
We are also unique in that we have a Certified NY State Real Estate Appraiser on staff, and we do not charge ANY up-front fees: many competitors have up-front (and sometimes hidden) fees for various services, such as appraisals and court costs, and most law firms charge a substantial amount for their time-win or lose.
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