By Mary Ellen Walsh
Syosset-Woodbury residents already angered by the increase in this quarter's tax bill as documented in the November 8 article in Newsday, now face even higher taxes estimated for 2006-2007 due to appraised higher market values for area homes. Recently, Nassau County Department of Assessment mailed tax impact disclosure notices outlining these proposed tax increases slated for the October 2006 tax bill.
According to many residents, they moved to this town seeking a quality education for their children in Syosset's accredited number one school district. But, some residents feel the taxes are too high and the school budget is inflated with unnecessary expenses.
"It's an outrage," said Tom Friedmann of Syosset. "My school taxes alone went up 13 percent in one year. By October 2006 my total taxes will have increased 24 percent in three years [not including inevitable budget increases.] The school board doesn't give any answers. The assessors keep re-evaluating and changing the criteria for their formula. How long can they keep taking money out of our pockets?"
"The Syosset-Woodbury area has been, and continues to be, a strong sellers market - even though homes are taking a little bit longer to sell these days," said Jay Meringoff owner/broker of REMAX Prime Real Estate in Syosset. "On one hand people should be happy that their homes are valued at a higher price for resale and home- equity loan purposes. But, on the other hand, the tax increase can be a burden for some."
"It's a double-edged sword," said Robert Ardizzone of Syosset referring to the high-appraised values for property. "It's like a doctor's diagnosis -- the good news is, we cured you. But you have six months to live."
"Your taxes are predicated by what's going on in your community, local businesses and schools," said Harvey Levinson, chairman of Nassau County Board of Assessors. Levinson further explained that if there is a change in commercial values in the area, it lowers the amount of tax revenue collected from the wealth pool (so to speak), affecting residential taxes.
Nassau County's tax system is broken down into four classes: 1. Detached single-family homes, 2. Multi-family condo/co-ops, 3. Utilities and 4. Commercial. They arrived at this figure by multiplying the assessed value set at one-quarter of one percent of the full-market value by another higher rate for all class one.
Despite Governor George Pataki's bill last spring that froze the percentage cap to a 2 percent increase in taxes within one year, Levinson explained the seemingly large jump in taxes in the Syosset/Woodbury area (including January 2002 through proposed January 2007).
"In 2002, after 9/11, the previous office decided not to base their evaluations on that year's home sales resulting in conservative assessments--probably 10 percent lower than true market value," said Levinson. "By undervaluing the homes, taxes were lower than they should have been at that time." Levinson further explained that with a strong sellers' market in Syosset, home prices soared; coupled with the lower assessments of 2002, the three-year increase seems disproportionate. "By the proposed 2006-2007 tax bill, market evaluations should be on target," he said.
Take, for example, a recent home sale in Syosset. In January 2002 a 3-bedroom, 2-car garage split-level home in Syosset was appraised at $411,400. In July 2003, the house was purchased for $620,000. With the proposed reevaluation, the house is valued at $674,600 showing a considerable jump.
"The current way of computing is confusing," added Levinson. "I am trying to get the legislature to change this. We're working on a bill in Albany that would be a protection against any increase in value hitting homeowners all at once. It would phase in the increase over five years to end up assessing at a full-market value." Levinson uses a simple example of a home assessed at $100,000 the first year and the full-market value should be $200,000, it will go up $20,000 each year to total $200,000 by the fifth year.
What does this mean for Syosset-Woodbury residents? Residents can grieve their taxes by filing an application for correction of property tax assessment from January 2 to March 1, 2005, free of charge. This information is available at the library or by logging onto www.nassaucountyny.gov/arc/.
Most tax grievances fall under three categories: 1. External negativity - if you are located on a major road or by a sump. 2. Internal audit - many Syosset-area homes have old-fashioned kitchens, bathrooms, etc. and 3. Recent home sales - where you can submit recent comparable homes sold in your area. Nassau County Assessor's office encourages residents to send photos as well.