Lancaster Reassessment

[Albie]

I have heard that Lancaster will be mailing out reassessment notices starting March 1st. Poperty's will be reassessed 100% of value is this true.

[WNYresident]

Originally posted by Albie
I have heard that Lancaster will be mailing out reassessment notices starting March 1st. Poperty's will be reassessed 100% of value is this true.

Sad they'll say they didn't raise taxes but they will make you pay more on your home to support thier labor contracts

[therising]

The 100% evaluation will not impact the amount you pay in taxes. Theoretially, the tax rate would go down so that the amount you pay would be unchanged.
Theyre doing it because it simply makes more sense than having some crazy # (65%, 72.25%, whatever) as your equalization rate.
Also, the state gives the towns some money as an inducement to do it.

[WNYresident]

How does that change though... my assessment went up and I paid more taxes. If they are billing you at 80% and then started to bill you at 100% that's 20% more... what rate changed?

[therising]

Take Cheektowaga as an example.
hey use an equalization rate of 65%.
Let's say the assesor determines that a house is worth $100k. That property would have an "assessed rate" of $65,000. (i.e. 65% of assessed value) The assessed value would still be $100,000.

Now, the town has a tax rate. I'm making up #'s, now because I don't know what they are. Let's say the assessed rate is $20/1000. Your town tax would be 20x65, or $1,300.
If the town decided to go to 100% assessed value, your assessed value would stay the same, but your assessed rate would go up to $100,000.

The tax rate would then decrease accordingly to $13/1000 (13x100k = $1,300), so your taxes would stay the same.

If your assessed value went up, it's simply because the assessor determined that your property was worth more than the assessed value. The tax rate hasn't changed, neither has the equalization rate.

If the town re-assessed your property, then they probably did the whole town at the same time.

Keep in mind that your entitled to fight it, but there's a deadline every year. I THINK it's first week in June of every year.
Also, you better be well-armed if you plan on fighting it. If you think you're over-assessed, make sure you have sales of comparable properties to support your claim.

[WNYresident]

If your assessed value went up, it's simply because the assessor determined that your property was worth more than the assessed value. The tax rate hasn't changed, neither has the equalization rate.

But why should i pay more.. my road didn't get wider to plow and I ain't throwing away more garbage. Do they re-assess like that in other states? Or Do they re-assess once you sell your home?

[Albie]

Cheektowaga has been reassessing properties yearly for the last 6 years they use 65% as their guide line.Unfortunatly they take homes sold along with other homes on a pick and choose system,build up a property reassessment fund which is in the millions yearly,and never reduce their rates in fact they normally raise them 10% a year so beware of what Lancaster is doing they may have learned how to increase taxes,by watching what Cheektowaga's been getting away with.

[therising]

Originally posted by Albie
Cheektowaga has been reassessing properties yearly for the last 6 years they use 65% as their guide line.Unfortunatly they take homes sold along with other homes on a pick and choose system,build up a property reassessment fund which is in the millions yearly,and never reduce their rates in fact they normally raise them 10% a year so beware of what Lancaster is doing they may have learned how to increase taxes,by watching what Cheektowaga's been getting away with.

What does this have to do with Lancaster??? You're saying Cheek is at 65%, and they re-assess every year. Lancaster is going to 100%. So what?
What does one have to do with the other?

[farmall806]

Do they do just a "drive-by" assessment? Or do they actually go inside the house and inspect every room in the house?

farmall806

[therising]

Originally posted by WNYresident
But why should i pay more.. my road didn't get wider to plow and I ain't throwing away more garbage. Do they re-assess like that in other states? Or Do they re-assess once you sell your home?

I assume that you agree with the "everyone should pay their fair share" concept. I also assume that you feel that a large shopping strip should be paying more in taxes than your house?

So, guess what? There's good news! The town now says your property is more valuable than it used to be. (Be fair, it probably is!)
Unless you think they've assessed it for more than it's worth, you have no case.
I know that my house is under-assessed by about 20%. I also know that, someday, they'll re-assess it and I'll be momentarily pissed. Still, fair is fair, so I've got no reason to complain.

[farmall806]

The ORPS assessors training manual states that assessors are to inspect the inside of all properties. Are the assessors in your town doing that?

farmall806

[therising]

Originally posted by farmall806
Do they do just a "drive-by" assessment? Or do they actually go inside the house and inspect every room in the house?

farmall806

drive-by, as far as I know.

[therising]

Originally posted by farmall806
The ORPS assessors training manual states that assessors are to inspect the inside of all properties. Are the assessors in your town doing that?

farmall806

I don't think you want to open that can of worms. Can you imagine them walking around with a clipboard...."ahem, new cupboards I see.....Oh, you finished your basement, how nice"

[farmall806]

therising:

I see nothing wrong at all with town assessors doing a complete inside and outside inspection of the properties that they are assessing. In fact, if the assessors are going to 100 percent full value assessment of properties, I believe that it should be MANDATORY!! that they do just that. Here is my reasons:

1. When a person wants to buy a house, the bank that they are getting the mortgage from sends an appraiser from the bank to check out the property to see if it will appraise for the amount that they are asking for. The bank appraiser does an inside and outside inspection of the property. He does not just sit in his car and do a drive by appraisal of the property.

2. when a person is getting a home equity loan, the bank does the same thing.

3. When a person wants to sell their house, a real estate agent does a complete inspection of the house: inside and outside.

Why is it that people do not want the tax assessors inside their homes? I think the reasons are:

1. They could have a house that looks like a dump on the outside , but look like it is brand new on the inside. That would greatly affect the value of the house.

2. They know their house is worth a lot more that what it is currently assessed at and they don't want the assessors to know that fact.

Then there are those people that complain that their house is not worth what the assessors say it is, and yet some of those people are the very same people that will put their house on the market for 50,000 to 100,000 or more than what it is currently assessed at and they often get much more than what it is assessed for when they sell the house.

If they put their house on the market for more than what it is assessed for and get the selling price that they are asking for, they have in fact sold the house for its true market value. If a town is assessing at 100% full market value, and a property sells for more than full assessed value, the property owners were not IMHO paying their fair share in property taxes.

farmall806

[WNYresident]

It's too expensive here in WNY.

Over $4000 a year is what i pay for property taxes. I look and say for what? It's not justified in my opinion. Period.