Empire Tax Reductions

Empire Tax Reductions

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Empire's fees are 20% lower than the major competition -- apply today!
Call us for more information at 516-746-4646.
empiretaxreductions.com/

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty #NYhomeowners
It's time to file your Property Tax Grievance in Nassau County.
The deadline is March 1st.
Don’t spend another year worrying about high property taxes.
Empire Tax reductions has saved millions for NY homeowners – and we can help you!
Call us for more information at 516-746-4646.
empiretaxreductions.com

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty
Long Islanders can now apply for the $539 million Homeowner Assistance Fund.
"Applications opened Monday for the state Homeowner Assistance Fund, a $539 million program aimed at helping residents who are behind on their housing payments because of financial hardship caused by the pandemic."

At Empire Tax Reductions, we are here to help you lower your taxes. Call us for more information at 516-746-4646.

See comments for the article.
#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty
https://nwsdy.li/3lzr1Ks
One-time break: New exemption left 7 Nassau homes untaxed in 2020-21

By Scott Eidler [email protected] Updated Oct. 27, 2021, 7:24 PM

To avoid sudden hikes in property values caused by a countywide reassessment, Nassau County officials created an exemption that allowed homeowners to spread assessment increases over five years.
But the move had an unintended impact: Owners of seven of the 385,000 residential properties in the county didn't pay property taxes at all in the 2020-21 tax year because the exemption eliminated their bills for school, town, and county taxes, according to county records and officials.
That's because the exemption amount was higher than the properties' assessed value based on a complicated formula approved in a 17-0 vote by the Republican-controlled Nassau County Legislature, with two abstentions.
County officials said it was a one-time issue and that the assessments of the seven properties have risen this year, and they will be paying property taxes.
County assessment officials used this formula to determine the size of exemptions for all residential properties:
Calculate the difference between the property's 2019-2020 assessment and the 2020-2021 assessment.
Multiply the difference by .8. For 2020-2021 only, this exempts 80% of the assessment increase from taxation.
For example, consider a home assessed at $500,000 in 2019-20 and reassessed at $1 million for 2020-21. Under the county exemption formula, $400,000 of the $500,000 increase is exempt from taxes in 2020-21. The owner pays taxes that year only on $600,000 in assessed value — the $500,000 increase in value, plus the $100,000 that was not exempt from taxation.
Under the exemption, homeowners' tax bills will climb gradually over five years, county officials said.
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From breaking news to special features and documentaries, the NewsdayTV team covers the issues that matter to you.

Sign up
By clicking Sign up, you agree to our privacy policy.
Officials say that by the time the exemption expires, in 2024-25, assessments will have risen to reflect total market value.
Curran administration officials said the tax avoidance was an "anomaly" caused primarily by the exemption, which is intended to allow property owners to delay the impact of hikes caused by Curran's countywide property reassessment.
Owners of the seven untaxed properties declined to comment for this story, did not respond to requests for comment, or could not be reached.
Of the 385,000 residential properties countywide, the seven were the only ones for which the exemption eliminated school, town, and county property tax bills completely last year, assessment officials said.
The seven properties include a home in Point Lookout with an assessment that rose from $1,008,000 in 2019-2020 to $4,012,000 in 2020-21.
According to online Nassau assessment records another of the properties was a Kings Point guesthouse assessed at $898,400 in 2019-20, and $3,173,000 in 2020-21.
Assessment officials confirmed the seven properties for which taxes were eliminated after Republicans in the county legislature — acting on a complaint by a neighbor of one of the properties — raised the issue in a news conference in July.
The officials did not research taxes on other county properties.
All seven homes were among thousands that became significantly undervalued during the nearly decade-long period when former County Executive Edward Mangano, Curran's Republican predecessor, froze the tax rolls, Curran administration officials said.
The county did not update home values during that period.
Officials said that by the time reassessment took effect in 2020-21, a gap between the seven properties' assessments compared with 2019-20 had developed.
"In the case where you have a property that has so much market value after … a very long assessment freeze …, there's going to be a big difference" from year to year, Charles Berman, North Hempstead Town tax receiver, told Newsday.
Over time, Berman said, "that will create an exemption that's greater than the taxable value remaining."
Michele Spara, deputy Nassau County assessor, said if the exemption "exceeded your final assessed value [for 2020-21], there was nothing left to tax you on, so your net result was zero."
GOP lawmakers who have complained about reassessment issues, including the accuracy of estimated tax bills for homeowners and failures to apply exemptions to hundreds of new condominiums correctly, said the situation with the seven properties highlighted continuing problems with reassessment.
Presiding Officer Richard Nicolello (R-New Hyde Park) said the situation with the seven homes might represent "the most egregious, maybe the most obvious and visual manifestation of problems" caused by reassessment.
Bruce Blakeman, a Republican Hempstead Town Council member who is challenging Curran, a Democrat, for reelection in November, is raising the issue of the untaxed homes.
Blakeman says, "Millionaire's taxes went down while yours went up," as a photograph of a sprawling estate appears on screen in a television campaign ad.
"There's no excuse for every other Nassau resident, middle class, low income, picking up the tab for these multimillion-dollar estates," Legis. John Ferretti Jr. (R-Levittown) said at an Aug. 2 legislative hearing into the untaxed properties.
Nassau County officials have argued that the temporary tax reprieve for the seven properties didn't shift a sizable portion of the tax burden onto other property owners.
According to county records, owners of the seven properties paid a total of $137,417 in property taxes for the 2019-20 tax year.
According to county data, that compares with the entire school and general property tax levy in 2021 of $6.38 billion.
"Less than one-thousandth of a percent of the county's total residential parcels received a taxable value of zero," Deputy County Assessor Robert Miles told Nassau County legislators at the Aug. 2 hearing.
"Homeowners have benefited largely from this taxpayer protection plan, and having seven properties be this anomaly speaks to it being a solid law," Miles testified.
Curran ordered the reassessment of all properties in the county after taking office in 2018, prompting an update of the tax roll for the first time in nearly a decade.
Mangano, a Republican, froze tax rolls in 2011 as he sought to develop a new system for reassessing county properties.
At the same time, Mangano's administration awarded settlements to many property owners who challenged their assessments.
In tax years 2012-13 through 2019-20, when the freeze was in place, Nassau County settled 1,003,434 of 1,252,099 tax challenges or 80%, county records show.
The mass settlements caused a shift of hundreds of millions of dollars in property tax burden onto homeowners who did not appeal their assessments or lost their assessment challenges.
In December, a county analysis found 65% of homeowners would receive school tax bill increases under reassessment, compared with 35% who would get reductions.
Nassau officials said they were considering revisions to the exemption program to prevent a repeat of the situation with the seven untaxed properties.
Deputy Nassau County Attorney Conal Denion said his office was "exploring possible changes that could be made to the New York State Real Property Tax Law to address this infrequent circumstance." County officials did not provide specifics about the proposal.
Nassau County "plans to work with state lawmakers to ensure this issue does not arise again," Denion said.

EXAMPLE
Guesthouse, Dock Lane, Village of Kings Point, Great Neck School District.
2019-2020 assessment: $898,400
2020-21 reassessment: $3,173,000
2020-21 final valuation after successful tax challenge by homeowner: $1,785,000
Calculating the exemption:
$3,173,000-$898,400 = $2,274,600
$2,274,600 multiplied by .8 [80%] = exemption value of $1,819,680
Result: No taxes due for 2020-21 because the exemption ($1,819,680) exceeds the final home valuation ($1,785,000)
Source: Nassau County Department of Assessment
.
.
.

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty
https://nwsdy.li/3lzr1Ks "When it comes to buying the votes of residents with their own money, there are no clean hands among Nassau County’s Republican and Democratically elected officials. With an eye toward county elections less than two months away, both parties want to toss a few bucks back in taxpayer pockets."

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty
Applications are now being accepted.
To apply for the upcoming Nassau County tax grievance, visit our website. https://bit.ly/3ErViDI

- OUR FEES are 20% lower than the major competition

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty

Don’t spend another year worrying about high property taxes. Empire Tax reductions has saved millions for NY homeowners – and we can help you!

At Empire Tax Reductions there is no guess work to Property Taxes. We are specialists in the tax assessing system and have successfully fought property taxes for over 15 years, securing millions of dollars in reductions for homeowners from Mineola to Montauk! Our contract is simple: NO REDUCTION -- NO FEE and NO HIDDEN PENALTIES!!

Operating as usual

Property Tax Reduction Consultants and Tax Grievance Services | Empire Tax Reductions | Nassau County and Suffolk County, Long Island, NY 01/06/2022

Property Tax Reduction Consultants and Tax Grievance Services | Empire Tax Reductions | Nassau County and Suffolk County, Long Island, NY

Empire's fees are 20% lower than the major competition -- apply today!
Call us for more information at 516-746-4646.
empiretaxreductions.com/

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty #NYhomeowners

Property Tax Reduction Consultants and Tax Grievance Services | Empire Tax Reductions | Nassau County and Suffolk County, Long Island, NY Empire Tax Reductions offers tax grievance and tax relief consulting, proudly serving Westchester County, as well as, Long Island, Nassau and Suffolk Counties. Our aim is to offer our clients tax relief and lower property taxes for their household.

01/05/2022

It's time to file your Property Tax Grievance in Nassau County.
The deadline is March 1st.
Don’t spend another year worrying about high property taxes.
Empire Tax reductions has saved millions for NY homeowners – and we can help you!
Call us for more information at 516-746-4646.
empiretaxreductions.com

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty

It's time to file your Property Tax Grievance in Nassau County.
The deadline is March 1st.
Don’t spend another year worrying about high property taxes.
Empire Tax reductions has saved millions for NY homeowners – and we can help you!
Call us for more information at 516-746-4646.
empiretaxreductions.com

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty

LIers can now apply for $539 million Homeowner Assistance Fund 01/04/2022

LIers can now apply for $539 million Homeowner Assistance Fund

Long Islanders can now apply for the $539 million Homeowner Assistance Fund.
"Applications opened Monday for the state Homeowner Assistance Fund, a $539 million program aimed at helping residents who are behind on their housing payments because of financial hardship caused by the pandemic."

At Empire Tax Reductions, we are here to help you lower your taxes. Call us for more information at 516-746-4646.

See comments for the article.
#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty

LIers can now apply for $539 million Homeowner Assistance Fund Applications opened Monday for the state Homeowner Assistance Fund, a $539 million program aimed at helping residents who are behind on their housing payments because of financial hardship caused by t

Fee cuts are a priority 10/28/2021

Fee cuts are a priority

https://nwsdy.li/3lzr1Ks
One-time break: New exemption left 7 Nassau homes untaxed in 2020-21

By Scott Eidler [email protected] Updated Oct. 27, 2021, 7:24 PM

To avoid sudden hikes in property values caused by a countywide reassessment, Nassau County officials created an exemption that allowed homeowners to spread assessment increases over five years.
But the move had an unintended impact: Owners of seven of the 385,000 residential properties in the county didn't pay property taxes at all in the 2020-21 tax year because the exemption eliminated their bills for school, town, and county taxes, according to county records and officials.
That's because the exemption amount was higher than the properties' assessed value based on a complicated formula approved in a 17-0 vote by the Republican-controlled Nassau County Legislature, with two abstentions.
County officials said it was a one-time issue and that the assessments of the seven properties have risen this year, and they will be paying property taxes.
County assessment officials used this formula to determine the size of exemptions for all residential properties:
Calculate the difference between the property's 2019-2020 assessment and the 2020-2021 assessment.
Multiply the difference by .8. For 2020-2021 only, this exempts 80% of the assessment increase from taxation.
For example, consider a home assessed at $500,000 in 2019-20 and reassessed at $1 million for 2020-21. Under the county exemption formula, $400,000 of the $500,000 increase is exempt from taxes in 2020-21. The owner pays taxes that year only on $600,000 in assessed value — the $500,000 increase in value, plus the $100,000 that was not exempt from taxation.
Under the exemption, homeowners' tax bills will climb gradually over five years, county officials said.
Sign up for the NewsdayTV newsletter
From breaking news to special features and documentaries, the NewsdayTV team covers the issues that matter to you.

Sign up
By clicking Sign up, you agree to our privacy policy.
Officials say that by the time the exemption expires, in 2024-25, assessments will have risen to reflect total market value.
Curran administration officials said the tax avoidance was an "anomaly" caused primarily by the exemption, which is intended to allow property owners to delay the impact of hikes caused by Curran's countywide property reassessment.
Owners of the seven untaxed properties declined to comment for this story, did not respond to requests for comment, or could not be reached.
Of the 385,000 residential properties countywide, the seven were the only ones for which the exemption eliminated school, town, and county property tax bills completely last year, assessment officials said.
The seven properties include a home in Point Lookout with an assessment that rose from $1,008,000 in 2019-2020 to $4,012,000 in 2020-21.
According to online Nassau assessment records another of the properties was a Kings Point guesthouse assessed at $898,400 in 2019-20, and $3,173,000 in 2020-21.
Assessment officials confirmed the seven properties for which taxes were eliminated after Republicans in the county legislature — acting on a complaint by a neighbor of one of the properties — raised the issue in a news conference in July.
The officials did not research taxes on other county properties.
All seven homes were among thousands that became significantly undervalued during the nearly decade-long period when former County Executive Edward Mangano, Curran's Republican predecessor, froze the tax rolls, Curran administration officials said.
The county did not update home values during that period.
Officials said that by the time reassessment took effect in 2020-21, a gap between the seven properties' assessments compared with 2019-20 had developed.
"In the case where you have a property that has so much market value after … a very long assessment freeze …, there's going to be a big difference" from year to year, Charles Berman, North Hempstead Town tax receiver, told Newsday.
Over time, Berman said, "that will create an exemption that's greater than the taxable value remaining."
Michele Spara, deputy Nassau County assessor, said if the exemption "exceeded your final assessed value [for 2020-21], there was nothing left to tax you on, so your net result was zero."
GOP lawmakers who have complained about reassessment issues, including the accuracy of estimated tax bills for homeowners and failures to apply exemptions to hundreds of new condominiums correctly, said the situation with the seven properties highlighted continuing problems with reassessment.
Presiding Officer Richard Nicolello (R-New Hyde Park) said the situation with the seven homes might represent "the most egregious, maybe the most obvious and visual manifestation of problems" caused by reassessment.
Bruce Blakeman, a Republican Hempstead Town Council member who is challenging Curran, a Democrat, for reelection in November, is raising the issue of the untaxed homes.
Blakeman says, "Millionaire's taxes went down while yours went up," as a photograph of a sprawling estate appears on screen in a television campaign ad.
"There's no excuse for every other Nassau resident, middle class, low income, picking up the tab for these multimillion-dollar estates," Legis. John Ferretti Jr. (R-Levittown) said at an Aug. 2 legislative hearing into the untaxed properties.
Nassau County officials have argued that the temporary tax reprieve for the seven properties didn't shift a sizable portion of the tax burden onto other property owners.
According to county records, owners of the seven properties paid a total of $137,417 in property taxes for the 2019-20 tax year.
According to county data, that compares with the entire school and general property tax levy in 2021 of $6.38 billion.
"Less than one-thousandth of a percent of the county's total residential parcels received a taxable value of zero," Deputy County Assessor Robert Miles told Nassau County legislators at the Aug. 2 hearing.
"Homeowners have benefited largely from this taxpayer protection plan, and having seven properties be this anomaly speaks to it being a solid law," Miles testified.
Curran ordered the reassessment of all properties in the county after taking office in 2018, prompting an update of the tax roll for the first time in nearly a decade.
Mangano, a Republican, froze tax rolls in 2011 as he sought to develop a new system for reassessing county properties.
At the same time, Mangano's administration awarded settlements to many property owners who challenged their assessments.
In tax years 2012-13 through 2019-20, when the freeze was in place, Nassau County settled 1,003,434 of 1,252,099 tax challenges or 80%, county records show.
The mass settlements caused a shift of hundreds of millions of dollars in property tax burden onto homeowners who did not appeal their assessments or lost their assessment challenges.
In December, a county analysis found 65% of homeowners would receive school tax bill increases under reassessment, compared with 35% who would get reductions.
Nassau officials said they were considering revisions to the exemption program to prevent a repeat of the situation with the seven untaxed properties.
Deputy Nassau County Attorney Conal Denion said his office was "exploring possible changes that could be made to the New York State Real Property Tax Law to address this infrequent circumstance." County officials did not provide specifics about the proposal.
Nassau County "plans to work with state lawmakers to ensure this issue does not arise again," Denion said.

EXAMPLE
Guesthouse, Dock Lane, Village of Kings Point, Great Neck School District.
2019-2020 assessment: $898,400
2020-21 reassessment: $3,173,000
2020-21 final valuation after successful tax challenge by homeowner: $1,785,000
Calculating the exemption:
$3,173,000-$898,400 = $2,274,600
$2,274,600 multiplied by .8 [80%] = exemption value of $1,819,680
Result: No taxes due for 2020-21 because the exemption ($1,819,680) exceeds the final home valuation ($1,785,000)
Source: Nassau County Department of Assessment
.
.
.

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty

Fee cuts are a priority When it comes to buying the votes of residents with their own money, there are no clean hands among Nassau County’s Republican and Democratic elected officials. With an eye toward county elections les

Fee cuts are a priority 09/18/2021

Fee cuts are a priority

https://nwsdy.li/3lzr1Ks "When it comes to buying the votes of residents with their own money, there are no clean hands among Nassau County’s Republican and Democratically elected officials. With an eye toward county elections less than two months away, both parties want to toss a few bucks back in taxpayer pockets."

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty

Fee cuts are a priority When it comes to buying the votes of residents with their own money, there are no clean hands among Nassau County’s Republican and Democratic elected officials. With an eye toward county elections les

09/17/2021

Applications are now being accepted.
To apply for the upcoming Nassau County tax grievance, visit our website. https://bit.ly/3ErViDI

- OUR FEES are 20% lower than the major competition

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty

GOP report: Some multimillion-dollar homes in Nassau excused from property taxes 07/22/2021

GOP report: Some multimillion-dollar homes in Nassau excused from property taxes

https://bit.ly/3hWcCaC

GOP report: Some multimillion-dollar homes in Nassau excused from property taxes

A new report released by the Republican majority in the Nassau County Legislature finds that some multimillion-dollar homes have been excused from property taxes.
The report says a collection of homes valued as high as $4 million are listed as tax free under their property costs.
Lawmakers say it's another example of inequity on the Island.
"County Executive Laura Curran continues to stand up in front of the people of Nassau County and say that this was the most fair and transparent reassessment that's ever been done, when the facts tell us otherwise," says Legislator Steve Rhoads.
The findings come as 65% of Nassau homeowners are facing tax hikes under the new reassessments.
A spokesperson for Curran released a statement that said in part, "Some properties identified today exploited the extremely inaccurate home values of Ed Mangano's broken system, a law-imposed 6% cap on increases to property assessments and frequent grievances."

www.EmpireTaxReductions.com

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty

GOP report: Some multimillion-dollar homes in Nassau excused from property taxes The report says a collection of homes valued as high as $4 million are listed as tax free under their property costs.

LI home prices hit record highs due to 'insatiable housing demand' 07/21/2021

LI home prices hit record highs due to 'insatiable housing demand'

Long Island home prices hit record highs due to 'insatiable housing demand'

Home prices hit record highs in Nassau and Suffolk counties last month, as low-interest rates and intense competition for suburban dwellings drove up the cost of housing.

In Nassau County, homes sold for a median price of $645,000 in June, up 16.2% from the same period last year, OneKey MLS, the listing service that includes Long Island, reported Thursday. Suffolk County homes traded for a median price of $510,000, up 18.8% annually, the listing service said.

Those were the highest prices ever recorded in both counties, and the largest year-over-year gains, OneKey reported.

What to know
LI home prices hit record highs of $645,000 in Nassau and $510,000 in Suffolk last month.
Low-interest rates and strong demand for suburban homes are fueling the increase in housing costs.
It’s still a sellers’ market but some brokers say the intense competition is starting to ease a bit.
The supply of new listings has dropped, especially for homes priced under $400,000.

However, there are signs the Long Island real estate market could be getting a little less competitive.

One broker said the frenzy of bidding wars is starting to abate, and it’s becoming less common to see long lines at open houses.

"The Long Island market has definitely cooled off a little bit," said Johnson John, owner of North Star Homes in Garden City. "If there were 30 buyers [for each house] before, now you have 20." Some buyers have given up after losing out in too many bidding wars, he said.

Even so, he said, "20 buyers per house is more than enough to get the job done."
The price of homes that went into contract last month grew by slightly less eye-popping amounts than the trends in closed sales, OneKey figures show. In Nassau, buyers signed contracts for homes at a median price of $657,000, up 12.3% annually. In Suffolk, homes went into contract for a median price of $525,000, up 15.4% from a year earlier.

Also, the median price of pending sales was lower in June than it had been the previous month. In May, the median pending sales price was $665,000 in Nassau and $539,500 in Suffolk.

Tracking home sales from month to month — rather than comparing them with 2020 numbers — can provide "a more realistic picture of what the housing market conditions are today," said Jim Speer, CEO of OneKey. The effect of last year's pandemic shutdown, he said, "is still reflected in the housing reports and I expect that impact to linger for a few more months."

Comparing last month’s housing market with June 2020 can give a distorted picture of home sales trends since the nearly three-month COVID-19 real estate shutdown ended in mid-June last year. The near-total halt in home sales was quickly followed by a burst of buying activity.

The current housing market remains tipped in favor of sellers. At the pace homes went into contract last month, selling all the homes on the market would take 2.3 months in Nassau and 1.9 months in Suffolk, listing service figures show. A balanced market has a five- to eight-month supply, brokers say.

While prices could decline moderately, according to brokers, the market is unlikely to experience a crash since interest rates are low, demand remains strong and lending standards have been tight. The average mortgage rate was 2.9% last week, mortgage giant Freddie Mac reported.

The rising prices have prompted some homeowners to put their properties on the market, especially those who are leaving the region, John said. He said four clients who sold their homes recently moved to Colorado, Texas, North Carolina, and Pennsylvania.

"If they're leaving New York State, especially if they're closer to retirement … they are extremely eager to get out of town," he said.

But for those who wish to stay on the Island, it’s difficult to sell one property and purchase another, since prices have soared throughout the market, he said.

"That's keeping people from selling, to be honest: ‘Where do I go?’" John said.

Indeed, the supply of new listings has dropped, a separate report shows.

Last month, brokers brought 4,022 new listings to the Long Island market, excluding the East End, down by 4.8% from the previous June, the appraisal company Miller Samuel and the brokerage Douglas Elliman reported.

However, while new listings fell overall, with an especially steep decline for homes priced under $400,000, the inventory of homes listed for $500,000 to nearly $1 million grew, Miller Samuel and Douglas Elliman reported. In the price band from about $600,000 to $800,000, the number of listings jumped year-over-year by 32%.

That disparity reflects the greater ability of higher-income homeowners to afford their next home purchase on the Island or leave the region, real estate experts said.

"The significantly higher equity that many [homeowners] are enjoying is money on paper … unless they're leaving the area," said Jonathan Miller, president, and CEO of Miller Samuel. Plus, he said, the supply of listings "has been no match for the insatiable housing demand."
https://nwsdy.li/2UxSkeJ

#EmpireTaxReductions #PropertyTaxes #PropertyTaxRelief #LowerMyBills #TaxGrievance #HomeOwnerTaxReductions #nassaucounty

LI home prices hit record highs due to 'insatiable housing demand' Home prices hit record highs in Nassau and Suffolk counties last month, as low interest rates and intense competition for suburban dwellings drove up the cost of housing. In Nassau County, homes sold

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