Many towns and villages throughout New York have done a reassessment , which means that they have performed mass appraisal work in your neighborhood to determine a market value for your home which your taxes are based upon. *
The reassessment is generally a good tool for the assessor's office to use and quite accurate. However, specific houses in an area may not be worth the market value determined by the assessment.
In these cases, the homeowner has
the right to dispute the assessment by having an appraisal performed. With
the appraisal, they can determine the market value of their home as an individual
and assuming it is lower than the market value determined by the assessment,
can have their tax base lowered. Some examples of a home where the assessment
may be high are…
· A house that is very dated in a neighborhood that has been renovated
· A house without central air, fireplace, garage, and other amenities
that most houses in the neighborhood have
· A 2 bedroom house in a neighborhood of 3 bedroom houses
· A house on a very small lot in a neighborhood of very large lots
· A house in less than average condition
· A house that based on your knowledge of the area, is worth less than
the assessment
If you have recently been reassessed, please contact your assessor to determine the process for disputing your assessment. Once you have determined that you need an appraisal, please call Shepherd Hill to assist you with the appraisal to ensure that the work is done right.
*Assessors do not determine taxes. Tax rates are determined by the state.
The equalization rate used takes into account whether you are at 100% market
value or some percentage below market values. A reassessment does not automatically
mean your taxes will go up.
