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Re: Tax abatement - for owners
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The abatement is applied to the assessment. If you look at your property detail under hudsoncountytax.com you'll see a column showing "exemption" and your "assessed" column should show "assessed" = "tot" - "exemption". Those numbers should stay fixed for the period of the abatement. However, your taxes will fluctuate based on yearly changes to the tax rate (currently ~$7,180 per 100k assessed).

Posted on: 2013/12/5 3:22
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Re: Tax abatement - for owners
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Quote:

SRhia wrote:
I brought a 5-year abated property 2 years ago. Just looked at the property tax website and noticed that my total tax for 2013 will be $400 more than total paid for 2012. And based on the first two expected payments already posted for Feb and May 2014, that will be $200 more than the 1st two quarters of this year.

I thought "abated" means I'll be paying reduced property for 5 years, and I had assumed that it meant the same amount for 5 years.

Perhaps I was wrong?

Any insight would be appreciated.
I had an abated property and my taxes didn't increase 20% each year. If there was a tax increase it went up the % of that tax increase.

Posted on: 2013/12/5 2:46
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Re: Tax abatement - for owners
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A 5 year tax abatement increases 20% each year. Expect another increase next year.

Posted on: 2013/12/4 23:36
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Tax abatement - for owners
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I brought a 5-year abated property 2 years ago. Just looked at the property tax website and noticed that my total tax for 2013 will be $400 more than total paid for 2012. And based on the first two expected payments already posted for Feb and May 2014, that will be $200 more than the 1st two quarters of this year.

I thought "abated" means I'll be paying reduced property for 5 years, and I had assumed that it meant the same amount for 5 years.

Perhaps I was wrong?

Any insight would be appreciated.

Posted on: 2013/12/4 23:15
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