Publication Source: LIHerald.com
Q: I don’t understand, if my tax assessment was reduced why did my real estate taxes increase?A. This is unfortunately a common situation. The County Town, Village and School budgets do not decrease and usually increase. Thus, lower assessments calculate to higher tax rates. If you received a 10% assessment decrease and the tax rates went up to 15% - your taxes still increase by 5%.This doesn't mean that you should give up your right to work with an attorney and get a fair assessment. The reduction helps balance the increasing tax rates.
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