Reassessments bring fairness

Reassessments bring fairness

To the Editor:

As the southern regional director of the State Office of Real Property Services, I am writing in regard to the issue of property taxes.

This year, nearly 350 municipalities are conducting reassessments in order to provide fair assessments for their taxpayers. This is no easy task, especially when real estate values nationwide have increased dramatically in recent years.

As property values change, it is important for local assessors to adjust assessments - typically by conducting reassessments. When assessments aren’t adjusted to reflect changing real estate values, some property owners will pay too much in taxes while others will pay less than their fair share; in fact, some taxpayers will actually subsidize the tax bills of others.

Reassessments do not collect more taxes for school districts, counties, cities, and towns. Rather, reassessments ensure that the taxes to be collected are distributed fairly among all taxpayers.

Many taxpayers don’t realize that an increase in their assessment does not necessarily mean that their taxes will increase. After a reassessment, some taxpayers may see their tax bills decrease even if their assessments increase.

In almost all communities conducting reassessments, assessments will be determined at market value. In communities assessing at less than 100 percent of market value, the estimated market value of each property is listed on the tentative assessment roll. If this estimated market value reflects roughly the price for which you could sell your property, then you are probably assessed fairly.

Each year, property owners should check the tentative roll, which becomes available in early May in most municipalities. Of course, not everyone may agree exactly with his or her assessment. If you have questions or concerns, you should discuss them with your assessor.

To learn more about these and other topics, readers are invited to visit the Office of Real Property Services’ website: www.orps.state.ny.us.

John Wolham

Regional Director, Southern Region

New York State Office of Real Property Services