I'm filthy rich! wrong tax lot?
Started by jaesee
almost 13 years ago
Posts: 41
Member since: Feb 2011
Discussion about
So, I bought a condo last year for about $400k with taxes of about $1800 per year. Came April this year, I received an assessment from the dept of finance. It stated that the market value of my condo went from roughly $11 million to $160K. And, "this is not a bill." I thought, ok, they screwed up and then lowered my property value to something that at least resembles what I paid last year. not bad... [more]
So, I bought a condo last year for about $400k with taxes of about $1800 per year. Came April this year, I received an assessment from the dept of finance. It stated that the market value of my condo went from roughly $11 million to $160K. And, "this is not a bill." I thought, ok, they screwed up and then lowered my property value to something that at least resembles what I paid last year. not bad I guess. Then, early this week I got hit with a tax bill for roughly 5 times what I paid last year. They said my assessed value went from about $14k to over $70k. I checked on ACRIS and found that the rest of the building had increases too, of course. But, the typical apt assessed value went from $14k to $17k. Their taxes increased by a few hundred a year, while mine increased 5 fold. I called dept of finance and even visited the queens and brooklyn offices to no avail. They told me that they supposedly sent out an assessment in january, with a deadline to appeal in March. I never received that letter. The sympathetic lady at finance told me that condo buildings, esp new ones, often get their tax lots mixed up when they parcel them out. Anybody experienced this? Am I being charged for the wrong apt or perhaps even being charged for the whole building?!! Btw, I checked my deed, and it does indeed state next to my unit # that it is a 6 story building! My attorney said that that's just the way the info popped up when they entered our lot #. Who actually put this info into the deed? my attorney or seller's? thanks for any info provided [less]
correction:
next to the caption unit # is a caption that was filled in as a 6 story buidling.
Of course I never saw this at closing, being busy signing docs as my attorney pointed here and there. But, even if I saw it then, I wouldve thought that the 6 story building remark meant that my unit is IN a 6 story building, not that it IS a 6 story building! who owns an a condo unit that 6 stories tall with 70,000 sq ft?!!
Don't forget to tip the title closer.
Very simple explanation, really:
They may have assumed you were one of the newly minted oligarchs who purchased a 6 story building for total gutting & conversion to a single unit for yourself.
Not that implausible...
so, was it an error on the deed? and who put that there?
and what is it with that tip? has anybody said no to it? LOL