When it comes to property taxes, Westchester County has some of the highest property taxes in the entire state of New York, even exceeding those of New York City and Long Island. Being America’s premier suburb, Westchester County draws in huge numbers of would-be homeowners looking to escape the urban sprawl of New York City. Thanks to limited space and strict zoning regulations, the demand for housing is one of the highest in the nation, which is only driving prices higher. This has led to a massive campaign of property tax reduction techniques, including exemptions and tax grievances.
While much of the tax roll for Westchester County has been settled, there is still one major township outstanding. That township is Yonkers, the keystone area of the entire county. Marching to the beat of its own drum, Yonkers has a grievance deadline all on its own, separated from the rest of the county by months. This gives the people of Yonkers more time to prepare for the property tax season, but that deadline is rapidly closing. In this article, we will break down property taxes in Westchester County and discuss how taxpayers can reduce their tax burden.
Why Westchester County Property Taxes Are so High
We have previously covered why property taxes in Westchester County are so high in depth. To sum things up, the high demand for housing so close to Manhattan has turned every sleepy town in Westchester County into a magnet for the wealthy of NYC. Within easy commuting distance from the financial heart of the world, the movers-and-shakers of New York are focused on getting a home in Yonkers or the other towns that make up the county. The hunt for property is also made difficult by low construction rates and zoning laws, which make it difficult for multifamily residences to be built.
The high demand and small number of housing options contribute to higher tax burdens, in addition to some of the highest home prices in the nation. Because the tax base is small and the demand for amenities is so high, enormous tax rates are imposed. Combined with the high property values, this translates into the record-setting bills that the people of Westchester County see every year. Many homeowners in Yonkers can see bills of $15,000 or more. The fact that the assessor is using outdated market values can also have a large impact on the overall bill and can contribute to older families being squeezed out of their homes.
Property Tax Reduction Options for Yonkers and Beyond
The first line of defense for any New Yorker when it comes to property taxes is to use exemptions. The most infamous exemption is the School Tax Relief Program (STAR). This is targeted at school taxes, the largest component of property taxes, and is either an exemption or a tax credit that can be used to help lower costs. New York has no homestead exemption, so the STAR program fills a similar role. There are also many other exemptions to be tapped, including those for seniors and veterans, among others. However, even these robust options are not enough. This is where property tax grievances come in.
Grievances Are a Necessity in Yonkers and Westchester County
Known as tax appeals in most of the nation, property tax grievances are the only option that homeowners and businesses in New York have for challenging their taxable values. Since all tax bills are built on these values, it is imperative to ensure they are correct. Grievances offer a property owner the chance to fix issues in assessment, such as incorrect footage or classification, as well as dispute the prescribed market value. Market value is what the assessor believes a piece of real estate will sell for based on recent sales. These values are often inaccurate and may go uncorrected, leading to massive, leading to massive tax bills that could have been lowered through action by the taxpayer.
Due to the high tax rates and soaring home prices, it is recommended that every homeowner in Westchester County, and especially in Yonkers, grieve their taxes every year. This keeps the true worth of a property current and ensures that no underlying issues go unaddressed. This technique is used by practically every business in New York and by many homeowners on Long Island. This is now becoming commonplace in Westchester County and is often considered necessary.
The Complexity of Tax Grievances in Yonkers
While grievances should be as widely used as exemptions, they are often neglected by property owners. This is because they require evidence to be successful, which is often poorly understood by laypeople. To dispute market value, property owners must provide comparable sales for properties in the same area from the previous three years. These properties must be of a similar age, size, location, and classification to be useful. The property owner can also gather photographs, repair estimates, and other information needed to show the true value of the property. Finding the right evidence can be a tricky and time-consuming process, made harder by the short timeframe given to put it together.
Yonkers Grievance Deadline is November 15
The official filing period for a grievance in Yonkers is only two weeks. This is because the tentative assessment roll is released on November 1, which lists every property, its characteristics, and values. The property owner must study their roll thoroughly to ensure that everything is correct. If there are any issues, including errors or incorrect values, then the property owner must file by the grievance deadline. November 15 serves as the deadline for Yonkers, while much of Westchester County already faced its deadlines in June. This short filing period means that homeowners and businesses should focus on gathering evidence early and dedicate time from their busy schedules to comb through the tentative assessment roll.
The BAR and SCAR
When a grievance is filed, it is first sent to the Board of Assessment Review (BAR), along with any evidence. There are rarely meetings with the BAR. Instead, the board will review the portfolio of evidence and render a judgment. This makes having strong evidence one of the most important factors in obtaining a reduction. If the taxpayer is unsatisfied with the result, they can then file a formal complaint with the Small Claims Assessment Review (SCAR). This formal hearing often produces better results, , but does require even more evidence. While a SCAR hearing can be done by a taxpayer, it is often best to have professional representation.
O’Connor Offers Professional Evidence and Representation
Because of the short timeframe and high stakes, it is often worth it to have a veteran firm on your side throughout the entire process. We at O’Connor have focused on helping out clients achieve the best reduction possible. We mainly focus on grievances, but we can help with exemptions as well. We also take the burden of gathering evidence off your shoulders and put that task in the hands of our team of experts. We will then use data-driven techniques to find the best comparable properties possible, giving you a strong portfolio of evidence.
Once evidence is gathered, we will file a grievance with the BAR for you. If necessary, we will also represent you at the SCAR or pursue litigation if needed. When you enroll with us, we will start working on your property right away, even if we are not in the official grievance window. This means we can start putting together evidence and be ready before the cutoff date arrives. There are no upfront costs to worry about, and you will only be charged a portion of your savings if we are able to lower your property taxes.
