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Thread: Full market assessments coming?

  1. #1
    Member gorja's Avatar
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    Full market assessments coming?

    Is Cheektowaga converting to Full market value assessments? This was on Nicole Gawel's Facebook page. She posted this with the pic - "Is thishow you plan on increasing our population in Cheektowaga ? What other town inthe state assesses properties at their full market value??!? This is absurd!" I listed 7 towns in Erie County that are fully assessed. I did not include villages or cities. She may be a bit na´ve.

    Have a GREAT day,
    Georgia Schlager

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    Member nogods's Avatar
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    Nicole just exposed her ignorance. FMV assessment is the only fair way to fairly distribute the tax burden.

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    Member gorja's Avatar
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    Quote Originally Posted by nogods View Post
    Nicole just exposed her ignorance. FMV assessment is the only fair way to fairly distribute the tax burden.
    I'm going with naivety, not ignorance. She should not have commented until she did a little research. I agree with you about FMV.

    Have a GREAT day,
    Georgia Schlager

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    Member nogods's Avatar
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    is Nicole a homeowner or tenant?

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    Tony Fracasso - Admin
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    But what will full assessment mean to the average home owner?

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    Member nogods's Avatar
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    Quote Originally Posted by WNYresident View Post
    But what will full assessment mean to the average home owner?
    It means we all pay a fair share. Those who presently underpay their share because their homes haven't been re-assessed since they bought them in 1950 will start paying a fair share of the property tax. why would anyone oppose a fair distribution of the tax burden?

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    Tony Fracasso - Admin
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    Anyone have a clue how many homes haven't been assessed since 1950s.

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    Member nogods's Avatar
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    BTW - the fractional assessment system is a double whammy for folks whose homes are assessed higher than the 62% ratio, because the county of Erie divides all Cheektowaga town assessments by .62 to convert them to full fmv. Thus, if your house is assessed at 100K but has a FMV of only 120, thn you are overpaying both your town and county taxes.

    Fractional assessment would work if updated annually but it is not. full FMV is too transparent to ignore for more than a year, and thus requires at least bi-annual re-assessment to stay current.

    Too many people are fooled into believing they are getting a break under fractional assessment systems because their 150K home is only assessed at 100K

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    Member nogods's Avatar
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    Quote Originally Posted by WNYresident View Post
    Anyone have a clue how many homes haven't been assessed since 1950s.
    Oh please..1950 is an exaggeration, although at least one home on my street that was last sold in the 1970's has not been re-assessed since then.

    The homes in my neighborhood are assessed at rates varying between 30% and 80%, depending on when the last sale occurred for a home (the major event that gives rise to a re-assessment along with permited improvements.)

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    Member gorja's Avatar
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    Quote Originally Posted by WNYresident View Post
    But what will full assessment mean to the average home owner?
    Res, this was your response in December 2004 - http://www.speakupwny.com/forums/sho...ll=1#post15832

    Assessments should not change until you sell your home. Even if you improve your home you shouldn't pay an increased land rent for the rest of your life. Your improvement on your home doesn't add to the cost of the services your city/town provide. The assessment should only change when you go to sell your home.
    Do you still have the same opinion 9 years later?

    Have a GREAT day,
    Georgia Schlager

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    Member nogods's Avatar
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    I'm always amazed at the inconsistency exhibited by people who promote a flat tax on income with one across the board rate, but then complain about that very same system being imposed on the value of their real property for local tax purposes.

    we should only impose the income tax on the amount you earn in the first year of your first job.

  12. #12
    Tony Fracasso - Admin
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    Quote Originally Posted by gorja View Post
    Res, this was your response in December 2004 - http://www.speakupwny.com/forums/sho...ll=1#post15832



    Do you still have the same opinion 9 years later?
    To a point yes because it is only opinion to what a house is worth until it is sold.

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    Member nogods's Avatar
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    Quote Originally Posted by WNYresident View Post
    To a point yes because it is only opinion to what a house is worth until it is sold.
    BS. Market valuation is based on math and is relied upon for many financial purposes. Next you will claim that evolution is "only a theory"

  14. #14
    Tony Fracasso - Admin
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    Do you really think it is fair if 5 people build 5 $200,000 homes next to 10 other homes ($75,000 each) that the tax cost should increase for the existing homes because you can now say the $75,000 homes are worth more?

  15. #15
    Tony Fracasso - Admin
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    What would be the average tax per home if we just divided up the budget between each residential property?

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