Nassau County has extended the protest filing period for real estate tax assessment reduction for all commercial and residential properties until April 1, 2018.
It is absolutely appropriate to end the period on April Fool’s Day! The Nassau County website, mynassauproperty.com, presents a market value on properties that is fooling you. The County’s market value is based on an old outdated ratio of assessment to market value. In reality, the market value the Nassau Assessor is basing the assessment on is 50% higher. So, a residential market value estimate on the County’s website of $600,000 is really a $1,000,000 value. A commercial market value estimate on the County’s website of $1,000,000 is really $1,550,000!
Every residential and commercial property in Nassau should be checked to see if an application to reduce the assessment should be made.