OfflineJust spent an hour or so on my Counties web site looking over all the different tax rates IE; County/Town, School, and Special Tax rates. Boring stuff but important in knowing all the surrounding towns and villages tax rates. Book marked it so now I can get right to it when I need too. Tax rate X Assessment value = tax.
Now when it came to the Equalization Rate it got a little confusing. I think I understand it but not sure. In NY, Equalization rates are established by the New York State Office of Real Property Services to be used in the apportionment of the county tax levy.
Here is an example of how the equalization rate is derived.
Example: A parcel assessed for $50,000 in the particular town of has an equalized full value of $130,514. (Assessed Value) divided by (Equalization Rate %) = (Full Value)
$50,000 divided by .3831 = $130,514.226
Does anyone know what is meant by "Full Value" ?
and how it relates to a particular property?
I will google Equalization rate and see what I can find, but I thought I would throw it out to anyone that can elaborate on the topic.
Thanks
John - Liveadream.
John A Musco -
You see, in life, lots of people know what to do, but few people actually do what they know. Knowing is not enough! You must take action.
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Did you read this article yet? It kinda explains it.
http://www.orps.state.ny.us/pamphlet/under_eqrates.htm
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
Thank you sistreat for the web site.
John A Musco -
You see, in life, lots of people know what to do, but few people actually do what they know. Knowing is not enough! You must take action.
Tony Robbins