Incompetent Assessor Raises Assessment on Vacant Queens Building

some text Incompetence abounds in the Department of Finance Queens Borough Assessment Office. In this example a Queens assessor increased the vacant building to the right by $92,000 for the 2009/2010 assessment roll. The "NOTICE OF PROPERTY VALUE" posted on the Finance WEB site indicates that the assessment was increased from $514,000 to $606,000 based on the following market conditions.
  • Estimated gross income at $68,805
  • Gross income multiplier of 8.800 which is our estimate of the relationship between the property's income and the property's market value.

Did anyone inspect the building?

Supporting document:

Examine NYC Department of Finance NOTICE OF PROPERTY VALUE

This is just one of many assessment errors that our firm has uncovered.

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