Posts Tagged: Tax Assessments

May 20, 2016

Nassau County Disputed Assessment Fund (DAF)

As a Class 4 commercial taxpayer, you may have recently received notice from the Nassau County Department of Assessment regarding the Disputed Assessment Fund (DAF). See the DAF Frequently Asked Questions, here. The new law will apply to Class 4 Commercial property owners in Nassau County who have challenged their property’s tax assessment for 2016/17. The law essentially requires that a certain percentage of those Class 4 taxpayers’ payments be held in separate accounts pending the resolution of their tax appeal. If the appeal is successful, the refund will be made from the County’s DAF… Read more »

May 04, 2016

Nursing Home Trial

Herman Katz Cangemi & Clyne attorneys, Jay M. Herman and Jacquelyn L. Mascetti, recently completed a real property assessment trial in a town outside Buffalo, New York involving the valuation of a Nursing Home facility. The trial addressed issues of New York State reimbursement rates and recent changes to the State’s reimbursement calculations; the business aspects of nursing homes; going concern value; the Uniform Standards of Professional Appraisal Practices (USPAP), and NYs court rules for trial appraisals. A decision by a Justice of the New York State Supreme Court is due pending submission of post-trial… Read more »

June 12, 2015

Assessing Nassau County’s Planned Property Reassessment Plan

On May 27, Nassau County announced that for the first time since County Executive Edward Mangano froze property values more than four years ago, every piece of property – commercial and residential – in the county will be reassessed. Is this good news? Bad news? Or inconsequential to the bottom line of Nassau County taxpayers? Nassau County is truly a unique place when it comes to assessment and tax issues.  Consider the fact that assessments generally have been reduced in the County over the last five years.  Not taxes. Not necessarily values.  Assessments. However, it… Read more »

February 05, 2015

Jay Herman Says Booming Self-Storage Operation Face Higher Tax Assessments

Self-storage is a growing business with a growing problem: Rising property tax assessments that are cutting into the bottom lines of self-storage operators, a leading property tax certiorari lawyer says. The lawyer, Jay M. Herman, senior partner at Herman Katz Cangemi & Clyne LLP with offices in New York City and Long Island, says many assessors across the state, are calculating assessments by using the income derived by these properties, rather than determining the value of the real estate. New York City, in particular, relies upon the income generated to calculate assessments without a proper… Read more »