Help with property tax assessment discrepancy
Hi BP Community,
I've found a property for an investor In East Williamsburg, its a 6 unit and C-2 zoned. The taxes are incredibly high for this type of commercial property and I was hoping somebody might have some advice on why it is so high and how/if it can be adjusted. I appreciate any and all help.
Listed below is the property I want for my client and its tax breakdown
| Year | Use code | Market value | Assessed value | Taxable | Tax rate% | Base tax | Current property tax |
|---|---|---|---|---|---|---|---|
| 2013/14 | C2 | $871,000 | $331,800 | $331,800 | 13.145% | $42,009 | $45,530 |
Listed below is an exact same 6 unit C-2(this is common for almost all in the neighborhood)
| Year | Use code | Market value | Assessed value | Taxable | Tax rate% | Base tax | Current property tax |
|---|---|---|---|---|---|---|---|
| 2013/14 | C2 | $558,000 | $36,792 | $36,792 | 13.145% | $4,836 | $5,221 |