Record Number of New Yorkers Appealing Their Property Tax Assessments, Report Says

A near record number of city residents are appealing their property tax assesments this year, the New York Post reported Monday, with 50,123 taxpayers saying their valuations were too high.

That number is just seven short of the record, the paper added, with just over 8,000 people receiving tax reductions based on appeals in 2011.

The paper quoted tax experts as saying that the appeals are based on a combination of factors, including the difficult housing market and tax frustration during a beleagured economy.

The paper focused on one city homeowner who was appealing his home assessment because the value had gone up $92,000 over the previous year, while other homes on his block were valued at more than $100,000 less.

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