Property Tax Lawyers in Jericho

Jericho, New York laws require that most owners of real property pay taxes on its value. "Real property" refers to building and land, and objects (like natural resources) that are permanently fixed to the land.

Jericho, New York derives property taxes simply by taking a percentage of the property's value. Normally, they are paid on a yearly or monthly basis.

Federal authorities do not gather a property tax. Only state and local governments gather property taxes, as a general matter.

How Property Tax is Calculated in Jericho, New York

Normally, Jericho, New York property taxes are decided as a percentage of the property's value. Tax rates differentiate widely, but they usually run from less than 1% up to about 5%.

In order to levy this tax, the tax authorities in Jericho, New York must have an uniform formula for figuring out the value of a particular piece of property.

In some ways, value is a subjective thing. For instance, the home in which you grew up is probably worth far more to you than its market value. To get around this, the government uses nothing but objective factors in deciding how much a piece of real property is worth.

To this end, the Jericho, New York appraiser will look at things like the state of the real estate market, the size of the land, the existence of additions to the land such as buildings, and the way in which the property is zoned.

How A Jericho, New York Property Tax Attorney Can Help.

In Jericho, New York, property taxes can become pretty intricate. Legal disagreements can arise in the property tax context, even if there is no wrongdoing, and the dispute arises from an honest misunderstanding. You might have a good reason to suspect that a mistake was made when your property was appraised, resulting in a higher tax bill than you believe you legally owe, for instance.

If you are affected by one of these, or any other, property tax legal issues in Jericho, New York, you should deal with it correctly. If you fail to do so, a relatively minor issue can become much more costly and inconvenient than it might otherwise have been. Therefore, the assistance of a seasoned tax attorney in Jericho, New York is highly useful in avoiding these issues in the first place, or handling them if they do arise.