QUEENS PROPERTY TAX REDUCTION

You want to see a lower number on the real estate tax assessment of your Queens property. The city tax assessors often make errors, but how can you fight back?

The real estate tax attorneys at Apfelbaum & Apfelbaum, LLP litigate and negotiate on behalf of NYC real estate owners and developers for reductions in property tax assessments on residential and commercial properties throughout Queens. We pride ourselves on the high quality and close attention we provide to each and every one of our clients.

How we can help:

  • LEARN. We want to learn about your property. What the income stream was in the past year; what your expenses were; what capital improvements were made; which repairs were made and when; what your maintenance costs were; what issues you’ve been confronting in leasing out your spaces. The more detail, the better.
  • We will then take this information and devise a new valuation of your property, tailoring our analysis to emphasize the unique story behind your property.
  • We will then present and defend the valuation on your behalf at an administrative hearing held at the NYC Tax Commission in downtown Manhattan.
  • Following the hearing, the Tax Commission may extend an offer to reduce your property’s assessed valuation. If they do, we will consult with you as to whether it is in your best interests to accept the offer, or whether it is better to preserve your right to re-argue the case in the future. Ramifications are complicated but we take pride in providing the clarity our clients deserve.

Queens Property Tax Background

Market Value

New York City property market value has increased every year for nearly a decade. This trend continued for fiscal tax year 2019/2020, with market value increasing in each of the city’s boroughs. In Queens, just this year, the average increase in market value of property, as measured by the tentative assessment’s increase from the prior year’s assessment, was a full 8.33 percent, according to the NYC Department of Finance. In New York City, property tax represents approximately half of all city tax dollars collected each year, and they are used to fund many services and programs. In Queens, property taxes are used to fund things such as uniformed agencies, including police, fire, sanitation, and corrections; education; health and welfare; and other agencies, including transportation, housing, and parks. Although property taxes fund necessary and worthwhile programs, don’t hesitate to protest an erroneous tax assessment. Queens has a large operating budget and funds a variety of services and programs for its citizens. Therefore, you should always protest an inflated property tax bill.

Queens Property Tax Exemptions

We also secure valuable real estate tax exemptions and property tax abatements for properties undergoing new construction, major capital improvements, commercial and industrial rehabilitations, as well as for non-profit entities, cooperatives and condominiums. Additionally, we are able to provide property owners with tax opinion letters, real estate tax projections and property tax forecasts.

In addition to challenging erroneous tax assessments, our experienced attorneys can help you determine whether you qualify for a personal property tax exemption. Personal property tax exemptions are only available for your primary residence, which is usually the house, condo, or cooperative apartment that you live in for most of the year. Available personal property tax exemptions include: School Tax Relief Exemptions; Senior Citizen Homeowners Exemptions; Disabled Homeowners Exemptions; Veteran Exemptions; Disabled Crime Victim/Good Samaritan Exemptions; and Clergy Exemptions.

Contact us today

At Apfelbaum & Apfelbaum, LLP we pride ourselves on the high quality and close attention we provide to each and every one of our clients. If you require assistance in challenging your Queens property tax assessment, please contact us at 646-355-8602; or complete our Property Form.

Creative design from the South

Get in touch with us!