Property Tax Lawyers in Troy
Troy, 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 attached to the land.
Property tax in Troy, New York is calculated by taking a percentage of the appraised value of the property in question. They are normally collected on an annual or monthly schedule.
Typically, property taxes are not levied by the federal government. This applies to everywhere in the U.S.. Normally, property taxes are imposed by state and local governments.
How Property Tax is Calculated in Troy, New York
Property tax in Troy, New York almost exclusively takes the form of a tax levied on the appraised value of the property in question. Property tax rates in the U.S. range from 0.2% to around 5% of the property's value.
In order to levy this tax, the tax authorities in Troy, New York must have an uniform formula for figuring out the value of a particular piece of property.
As you probably know, value is not always objective. For example, the owners of family heirlooms normally place far more value on them than their objective monetary value. So tax officials have to be careful to only use objective criteria in valuing property for tax purposes.
To this end, the Troy, 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 Troy, New York Property Tax Attorney Can Help.
The system of levying property taxes in Troy, New York can get very intricate. Disagreements about property taxes, between the taxpayer and the tax authorities, can come up in many different ways. A taxpayer may believe that an error was made in calculating their property's taxable value, resulting in bigger tax bill. Furthermore, the state or city government might allege that you have failed to pay your property taxes, while you believe that you have.
If you are immersed in a property tax dispute with the tax authorities of Troy, New York, you should seek the help of a Troy, New York tax attorney. Your attorney can help you prevent a small tax problem from turning into something much bigger and more expensive than it needs to be.