Click below for links to information about the New York State Assessment Process.
Assessors Job Description - http://www.tax.ny.gov/pubs_and_bulls/orpts/assessjo.htm
How are assessments made - http://www.tax.ny.gov/pit/property/learn/howassess.htm
Municipal options for assessing - http://www.tax.ny.gov/pubs_and_bulls/orpts/munioptions.htm
Learn about Re-assessments - http://www.tax.ny.gov/pit/property/learn/reassess.htm
Note:
On re-assessments, local (town) taxes may stabilize with some people paying more, some less and some the same as stated and the total burden to the town will be unchanged as long as the town budget is the same.
What is left out is the effect on County and School taxes.
To make this work all the towns in the county must be re-assessed or at Market Value.
And all the towns must keep there assessments up to date at market values.
If the municipality's Market Value goes up in relationship to surrounding municipalities, that municipality's share of county taxes and school taxes will go up since county and school taxes are based on market value.
If all the towns in the county are re-assessed or at market value, and stay updated at market value, no problem, county and school taxes are distributed equally.
But, if one town is re-assessed while the rest are not, and it's Market Value goes up significantly due to a large under assessed community with in it, such as Van Buren Point, we could pick up $5-10 Million in market value and our County and School taxes would go up while the surrounding communities would be paying less county and school tax, just as we did with the large drop in equalization rate the greatly increased our property values while our neighboring communities remained stable.
Caution: If a re-val is done, the whole county must be re-valed or at current market value, to be fair and effective.
Assessors Job Description - http://www.tax.ny.gov/pubs_and_bulls/orpts/assessjo.htm
How are assessments made - http://www.tax.ny.gov/pit/property/learn/howassess.htm
Municipal options for assessing - http://www.tax.ny.gov/pubs_and_bulls/orpts/munioptions.htm
Learn about Re-assessments - http://www.tax.ny.gov/pit/property/learn/reassess.htm
Note:
On re-assessments, local (town) taxes may stabilize with some people paying more, some less and some the same as stated and the total burden to the town will be unchanged as long as the town budget is the same.
What is left out is the effect on County and School taxes.
To make this work all the towns in the county must be re-assessed or at Market Value.
And all the towns must keep there assessments up to date at market values.
If the municipality's Market Value goes up in relationship to surrounding municipalities, that municipality's share of county taxes and school taxes will go up since county and school taxes are based on market value.
If all the towns in the county are re-assessed or at market value, and stay updated at market value, no problem, county and school taxes are distributed equally.
But, if one town is re-assessed while the rest are not, and it's Market Value goes up significantly due to a large under assessed community with in it, such as Van Buren Point, we could pick up $5-10 Million in market value and our County and School taxes would go up while the surrounding communities would be paying less county and school tax, just as we did with the large drop in equalization rate the greatly increased our property values while our neighboring communities remained stable.
Caution: If a re-val is done, the whole county must be re-valed or at current market value, to be fair and effective.