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Thread: Lancaster 2020 property reassessment

  1. #46
    Member Neubs24's Avatar
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    Quote Originally Posted by Lee Chowaniec View Post
    My assessment also increased 38% and my estimated tax increase is 8.8% ($280).

    Neubs is one lucky guy. I have no idea how that is possible?
    I was surprised as well. Maybe because its newer construction and was already assessed high? I failed math class so I'm just guessing.

  2. #47
    Member gorja's Avatar
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    Quote Originally Posted by Neubs24 View Post
    I was surprised as well. Maybe because its newer construction and was already assessed high? I failed math class so I'm just guessing.
    If you were to sell, is the new assessment the price you'd expect to sell if for?

    Georgia L Schlager

  3. #48
    Member Neubs24's Avatar
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    Quote Originally Posted by gorja View Post
    If you were to sell, is the new assessment the price you'd expect to sell if for?
    I'd expect to sell it for more. Old assessed was $202k, new is $248k, full market value on the assessment I was mailed is $268k, and my credit union appraised it at $275k in November. I find the numbers to be fairly accurate all around. My parents went up to $243k for their house built in 1980 and that appears accurate as well.

  4. #49
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    Quote Originally Posted by Neubs24 View Post
    I'd expect to sell it for more. Old assessed was $202k, new is $248k, full market value on the assessment I was mailed is $268k, and my credit union appraised it at $275k in November. I find the numbers to be fairly accurate all around. My parents went up to $243k for their house built in 1980 and that appears accurate as well.
    Hey Neubs:

    Still confused.

    The way I read the information you provided.

    Old Assessment - $202,000

    Market value at 100% of old assessment (77%) $248,000.

    New Assessment - $268,000

    Assuming cut-off number is 30% above old assessment where property owners will see resulting tax increase or decrease.

    $268,000 - $202,000 = $66,000 increase

    66,000 / 202,000 = 33% increase in assessment

    33% - 30% = 3% increase in tax liability from 2019 tax liability

    Unless my calculations are proven wrong, can’t see you getting a $521 decrease. Are you claiming new exemptions this year?

  5. #50
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    Hey Neubs:

    I was waiting for you to correct the confusion, but you didn’t, and I am still confused, as:

    You were assessed at full market value (FMV) $262,300 when you paid your 2019 town / county taxes.

    You are saying that your 2020 assessment based on FMV was decreased to $248,000, right. You are the first I have heard where the property was devalued.

    Yet, you say the FMV listed on your assessment states $268,000. How can that be? How can your assessment be less than the FMV?

    Regardless how I work the numbers, they don’t come close to yielding an estimated $561 decrease in tax liability.

    My interest lies solely in making sure I am working the numbers right for my own property, as I am challenging my own reassessment increase - based on street sales, neighborhood sales, and comparable sales.

  6. #51
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    My old assessment was 230k, FMV of 299k
    New assessment is 262k

    Actual value is $320k according to a bank assessor and comparable sales.

    So who knows... My taxes are estimated to drop $842, so you won't hear me complaining.

  7. #52
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    Quote Originally Posted by yaksplat View Post
    My old assessment was 230k, FMV of 299k
    New assessment is 262k

    Actual value is $320k according to a bank assessor and comparable sales.

    So who knows... My taxes are estimated to drop $842, so you won't hear me complaining.
    Thanks for sharing!

    Nor should you complain if your assessment is based on street sale, neighborhood sale and comparable sale analysis. It is what you should expect to sell your house for if you put it on the market and what your assessment should be based on.

    However, based on you saying: Actual value is $320k according to a bank assessor and comparable sales - ???????

    Based on the information you provided:

    Old assessment - $230,000

    $299,000 – FMV, Level of Assessment based on equalization rate of 77% on $230,000 paid on 2020 Town & County taxes recently paid.

    $262,000 – new assessment. Without knowing street, neighborhood and comparable sale history, there is no way of determining why your assessment was lowered, or for the significant amount your taxes are estimated to be lowered.

    In my case, street and neighborhood sales, along with comparable town sales are not indicative of why I am being assessed $9,000 more than I am - $12,000 more than the Level of Assessment assigned but a few months ago when paying my Town & County taxes That increase translates into my paying an estimated increase of $220 in tax liability.

    I am an advocate of a reval where everyone pays their fair share of taxes. The process has flaws and property owners have recourse to challenge their new assessments to the Assessment Board of Appeals.

    Some unit owners in my townhome community who have no intent to move share frustrations that their units would not command the sale prices units are selling for in an ‘inflated hot market’ and where they not had the intent or means to update their units. They share the same frustration as homeowners in other municipalities going under a reval share, namely paying more in taxes for doing nothing.

    The true value of a home is only realized at time of sale.

    With the advent of COVID-19, the tanking of the stock market, the state of the economy, this is the worse time to be in the midst of a reassessment process.

  8. #53
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    Quote Originally Posted by Lee Chowaniec View Post
    Hey Neubs:

    I was waiting for you to correct the confusion, but you didn’t, and I am still confused, as:

    You were assessed at full market value (FMV) $262,300 when you paid your 2019 town / county taxes.

    You are saying that your 2020 assessment based on FMV was decreased to $248,000, right. You are the first I have heard where the property was devalued.

    Yet, you say the FMV listed on your assessment states $268,000. How can that be? How can your assessment be less than the FMV?

    Regardless how I work the numbers, they don’t come close to yielding an estimated $561 decrease in tax liability.

    My interest lies solely in making sure I am working the numbers right for my own property, as I am challenging my own reassessment increase - based on street sales, neighborhood sales, and comparable sales.
    Im not sure where I got the FMV number now that I look at the OARS again. Its $248k across the board, so my mistake.

  9. #54
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    The following was posted on another Lancaster thread and deserves posting here as well, especially hearing from the Town Assessor this morning that she is being swamped and has not had time to review the assessment inquiry data I submitted a week ago - before submitting an appeal to the Appeal Board of Assessments for relief.

    Given the Coronavirus crisis, has the Supervisor considered any type of TIME EXTENSIONS or other remediation for residents to engage appeals with regards to the new property tax REASSESSMENTS?

  10. #55
    Member gorja's Avatar
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    The current deadline for submission of applications for the informal review of new assessments will remain March 31, 2020. This timeline must be adhered to in order to complete the Tentative Assessment Roll by May 1, 2020 (state determined deadline)

    Georgia L Schlager

  11. #56
    Member mark blazejewski's Avatar
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    Quote Originally Posted by gorja View Post
    The current deadline for submission of applications for the informal review of new assessments will remain March 31, 2020. This timeline must be adhered to in order to complete the Tentative Assessment Roll by May 1, 2020 (state determined deadline)
    In light of New York State's designation of a State of Emergency, perhaps the Supervisor should consult the Executive Chamber in Albany for guidance in accordance with this?...

    https://www.nysenate.gov/legislation...8H9uJvLELErIec
    LIDA Member Rinow to Member Ruda: You were a sitting Trustee on the Board. Did you help support Mr. Sweeney getting a seat on the CDC Board?"

  12. #57
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    Quote Originally Posted by mark blazejewski View Post
    In light of New York State's designation of a State of Emergency, perhaps the Supervisor should consult the Executive Chamber in Albany for guidance in accordance with this?...

    https://www.nysenate.gov/legislation...8H9uJvLELErIec
    I’m pretty sure you can download it, fill it in and mail by 3/31. There’s no ban on going to a mailbox...at least not yet.

  13. #58
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    Quote Originally Posted by grump View Post
    I’m pretty sure you can download it, fill it in and mail by 3/31. There’s no ban on going to a mailbox...at least not yet.
    Spot on, Grump!

    Spoke to the Assessor today on the subject of emailing my RP-524 appeal form, addendums, photos, etc. and was told to email to her office.

    Email: rbaker@lancasterny.gov

    The appeal can also be mailed to the 21 Central Ave office or personally dropped into the building lockbox as the building is now in shutdown.

  14. #59
    Member mark blazejewski's Avatar
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    Quote Originally Posted by grump View Post
    I’m pretty sure you can download it, fill it in and mail by 3/31. There’s no ban on going to a mailbox...at least not yet.
    That assumes one can compile what one needs to compile, and that those officials who would engage the appeal are still functioning in their official capacities, and abbreviated operations of the office(s) are still existent at that point in time.

    Under these circumstances, I do not take anything otherwise foreseeable for granted.

    Stay safe Grump.
    LIDA Member Rinow to Member Ruda: You were a sitting Trustee on the Board. Did you help support Mr. Sweeney getting a seat on the CDC Board?"

  15. #60
    Member gorja's Avatar
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    Delete this one wrong statement

    Georgia L Schlager

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