Property Tax Reduction
To date, we at Reilly Like & Tenety have saved our clients over $10,000,000 in property taxes.
We procure tax reductions in a large percentage of our cases, charging no fee unless a refund/reduction has been received and then, only a percentage of that refund or reduction.
You have nothing to lose except a portion of your tax bill.
Commercial Property
In many instances the Town has assessed your property at a higher value then its' market value. Because of this excessive valuation by the Town, your commercial property may be eligible for a Tax Reduction.
We can determine if your property is over assessed. Fill out and submit this QUESTIONNAIRE and we will determine the extent to which your property is over valued.
Please note, though we strive to complete Commercial Tax Reduction cases quickly, they may take several years to complete and not all claims will result in reductions. As payment for our services, Reilly Like & Tenety earns one-third of the refund and/or reduction for all the years that we filed for your property.
Condominium Property
Condominium properties receive special assessment treatment under the Real Property Tax Law. Condominiums are assessed "as if" they are income-generating properties even if they are not rented. The Assessor must give the greatest weight to a valuation based on the income your condominium would generate in the current rental market. Condominiums are not eligible for Small Claims Assessment Review even though they may be your primary residence.
For Example:
You purchased your unit for $350,000.
Your neighbor, with the same unit, rents it for $2,000 per month. Assuming that the monthly rent of $2,000 is market value, the Assessment on your unit should be approximately $140,000 to $170,000, even though your purchase price was $350,000.
If this is the case for your Condominium, you may have a Tax Grievance case. Your Board of Directors can file for the entire condominium or we can file for you individually. CONTACT US
Residential Property
A property is eligible for a Small Claims Assessment Reduction if it is the owners' primary residence and is not a Condominium or second home.
Residential Property is valued using a COMPARABLE SALES APPROACH
This approach utilizes the recent similar home sales in your neighborhood. In determining similarity, comparison is made of property size, square footage of the home, condition of the home, number of bedrooms and baths, if the property is waterfront, if there is a garage or pool and any other amenities.
Based on all these factors and conditions, the value of your home is computed. If the computed value is less than the Assessor's Equalized Value, then your property is over-assessed and you may be entitled to a refund and/or reduction of your Assessment.
Please note, though we strive to complete Residential Tax Reduction cases successfully not all claims will result in reductions. As payment for our services, Reilly Like & Tenety earns one-half of the refund and/or reduction for the year that we filed for you.
If you think you have a case, CONTACT US
Past performance does not guarantee future results – the fee we charge is 1/3 of the refund/reduction for all years grieved and settled for Commercial Properties and Condominiums. The fee is 1/2 of the first year savings for Residential Small Claims cases. Our fee agreement is pursuant to written retainer, which will be forwarded to you for signature and returned to us, after we determine the strength of your case.
