Should I bother contesting RE Tax Assessment?

Reno09, your management company should be able to do this for you. I suppose it's possible for them to determine they're undervaluing, but I'm not sure how often they would enforce that in practice. The value is based on rental comps, so if you can demonstrate lower rents, that might work in your favor. But my first call would definitely be to management.

BJW - My management outsources to a law firm that does this and takes a % of the supposed savings, but it's hard to tell what they really do so I was going to try it out on my own.

Anyone out there tried to appeal their Notice of Property Value on their own?

curious as well.. also for abated properties

I've been curious about this as well. My building has an abatement for a few more years, so what we pay doesn't change, but I wonder if it will affect me further down the line.
My assessed values are all over the place. The value was at 166K in 2008, and peaked last year at 232K ($4.1K rental / month) and this year will be at 110K ($2.3K/month). These numbers seem to have no basis in reality since we bought last year 20% down from peak, although The most recent rent comparison is reasonable.
This is for a duplex condo in central harlem.

In Nassau county I have successfully gotten price reductions, several times. Problem is you need to do the research and paper work every year now. I think there is some guarantee that the assessment can't be raised during this process. FWIW..

Thanks Gaongaon.

The DoF has a lot of info on their website, which has been helpful. I guess it's worth a shot!