Manhattan RE tax consultant recommendation

Bump.

I am very interested in reducing the taxes for my coop as well.

Do not know any specific, but you need a CERTIORARI lawyer. They specialize in RE tax assesmments and appeals. The buildings accountant s/b able to recomend someone.

>I am very interested in reducing the taxes for my coop as well.

Those rising rates really are taking a toll on your carrying costs, huh? Have you calculated the rate at which you'll have to sell and move out of the city?

if ur taxes are paid with your mortgage, make sure its not a temporary shortage spread due to rising taxes and the need to replenish your escrow holding with the bank. In that case, it may appear taxes rose more than they really did as ur bank attempts to replenish escrow holdings for the new rate. Just a thought.

Thanks apt55. Digs, I am looking at the tax bill myself and compared to several other neighboring apts.

Rising taxes are good for you -- encouraging you to earn more money to pay them.

Excelsior!

My co-op has done pretty well with http://www.williamkblock-taxcert.com.

CPSrental3BR, the city doesn't assess condo units individually. The city assesses the whole condo, then bills you for your share, based on your unit's Percentage of Common Interest. Your condo board would hire the tax-cert lawyer, just as a co-op board would.

E.g., compare 57 W 58th, PHA with PHC. PHC's PCI is 92% of PHA's, and its assessed value is the same 92%.

I'm buying into a sponsor condo building on the UWS and the property tax on our unit and building as a whole seem unusually high for the area. The few condo comps I've found have significantly lower prop tax, even ones on CPW with a much higher ppsf. Can anyone shed some light on this? I'd also be interested in commencing a RE tax appeal.

Thanks NWT. You are full of useful info as always, I will reach out to my coop managing agent to see if we can use the lawyer you recommended.

redpanda, you might want to go to http://www.nyc.gov/html/dof/html/property/property_condo_coop_comp_rental.shtml and pick up the comparable-property spreadsheet, to see which three rental buildings your condo is being compared to to get its rental value. That's the first thing a tax-cert lawyer would do. There's also a huge (hundreds of megabytes) Access database of the tax roll, where you can see the assessed value of each of your condo's units without looking them up one-by-one.

300_mercer, they may have someone they like better. I don't know how anybody tells who's better or worse.

NWT - thanks so much. I couldn't find my building on the spreadsheet, but possibly because it is too new (no one has moved in yet). I will try checking it again in a few months and hopefully, it will be updated.