Property Valuation
In New York, the process by which a property owner may challenge a tax assessment believed to be too high is called:
AAn appeal to the DOS
BA grievance proceeding, followed by a Small Claims Assessment Review (SCAR) or Supreme Court Article 78 proceeding✓ Correct
CA re-appraisal request submitted to the State Department of Taxation and Finance
DA condemnation proceeding
Explanation
In New York, property owners who believe their assessed value is too high must first file a grievance with the local Board of Assessment Review by Grievance Day. If unsatisfied, they may file a Small Claims Assessment Review (SCAR) petition (residential) or commence a Supreme Court proceeding (commercial) under Article 7 of the RPTL.
Related New York Property Valuation Questions
- When an appraiser says a property has 'curable physical deterioration,' they mean:
- In New York, the 'principle of anticipation' holds that:
- In New York, 'functional obsolescence' in an appraisal refers to:
- Comparables used in the sales comparison approach should ideally be:
- The income approach to value is most appropriate for:
- An 'effective age' of a building refers to:
- In New York, a 'paired sales analysis' in the sales comparison approach is used to:
- In the cost approach, the value estimate is derived from:
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