Talk to the assessor

The New York City Department of Finance assesses your property annually to determine your property tax bill. From July to October each year, assessors and assistant city assessors conduct field inspections across neighborhoods to gather data on assigned properties. 

These inspections ensure accurate property characteristics are recorded for correct market value estimates. It is crucial to report any discrepancies to the Assessors promptly, especially if they might lower your assessed value and thus your taxes. For instance, if a building has been demolished or property dimensions are incorrect, this should be brought to their attention. 

Commercial property owners must also provide income and expense information; otherwise, assessors may estimate based on market data, potentially leading to inaccurate assessments. Your Notice of Property Value, received in January, details the assessed value determined by the Department of Finance for the upcoming tax year. This value is derived from statistical analysis incorporating factors like property income, comparable sales, and construction costs. 

Corrections should be made before the tentative assessment roll is published, emphasizing the importance of contacting the assessor's office promptly. Whether you encounter assessors in the field or call them directly, their goal is to ensure accurate property assessments. 

Contact information for each borough's assessor's office is available on the NYC Department of Finance website, or you can dial 311 for assistance. 

Mathew Joseph is the former assessor-in-charge of Queens and a real estate tax consultant. He can be reached at 929-393-5773 or at realtorplus1@yahoo.com.