How would you assess the value of a house if not by market value or something based on market value?
For many years many home owners and buyers found the Tonawanda area has some reasonable homes. The prices are reasonable - taxes don't seem too oppressive !
Rumors have it change is coming - home values will rise. Is this because of "new home construction" ? Is the rise in value because homes have been "Under assessed" - has there been a rival in home owners rehabs ?
The local government needs/wants to expand - they want more tax funded jobs/service providers - where can they get the money?
Some smart insiders see the "opportunity" to raise values to be more "In-line" with "Market Values". By revaluation of the homes they will then be able to increase budgets and increase the number of well paid tax funded jobs/appointments - also known as "Patronage".
But lets not worry about that because as the Gov will repeatedly point out - your investments will be worth more . So actually they are doing this "for you" "They want to be able to provide you the schools and services - you deserve"
#Dems play musical chairs + patronage and nepotism = entitlement !
How would you assess the value of a house if not by market value or something based on market value?
So you have 3 homes that are valued at 65,000. A developer starts to build in the area building $150,000 to $200,000 McMansions. As the new homes are sold in that area you have a record of home sales. That effects the perceived value of surrounding homes. You can literally be taxed out of your house by the time you retire because the possible "value" of your home increased.
Buffalo Web Hosting and Graphic Design
www.onlinemedia.net - www.vinyl-graphics.com
Web hosting / Web Design - Signs, Banners, Vehicle Graphics
That's a valid point ... but how many high-priced new-build McMansions are going up in Tonawanda next door to $65,000 homes
I specified "Tonawanda" in my comment, which is the topic of this thread, not Clarence.
Here's another scenario: 3 identical houses all worth about $100k on the market. But one is assessed at $65k, another is assessed at $80k, and the third is assessed at $95k. Is that fair?
Yet another example: 1 older home is worth about $100k but it's assessed at $80k... while a newer home is worth about $200k but it's assessed at $100k. Is that fair?
Point is - you need some consistent, reliable, and fair way to assess property taxes. If it's not going to be based on market value of the home (or a fixed percentage of that value) then there's going to be a lot of games being played and unfairness.
Buffalo Web Hosting and Graphic Design
www.onlinemedia.net - www.vinyl-graphics.com
Web hosting / Web Design - Signs, Banners, Vehicle Graphics
Buffalo Web Hosting and Graphic Design
www.onlinemedia.net - www.vinyl-graphics.com
Web hosting / Web Design - Signs, Banners, Vehicle Graphics
So now people are complaining about the value of their homes increasing. Next they'll complain if their income increases, or the price of gas goes down.
There was a lot of that BS going on in Jamestown before they did the reassessment a few years ago. The North Side is where many of the wealthy and politically prominent families in Jamestown lived, and they conveniently were given tax breaks that carried on over the years.
I had been shopping for houses, so I was aware of the disparity in assessments: one large Tudor style home in the fanciest area of the North Side with an asking price of $150,000 had taxes of $2500. A much smaller on the South Side with a price tag of $60,000 also had a tax bill of $2500. That struck me as so patently unfair, that I stopped looking at houses in the city until the reassessment was announced.
FTR, NYS requires all assessments to be on market value, and it also requires periodic general municipal reassessments, not just reassessing upon sale (ie, "welcome, stranger") or upon application of a building permit.
Your right to buy a military weapon without hindrance, delay or training cannot trump Daniel Barden’s right to see his eighth birthday. -- Jim Himes
does tonawanada assess the taxes based upon a percentage of the assessment?
also, just for ****s and giggles, theres a house on South Forest Rd in Amherst currently on the market for 1.1 million. The surounding homes, are all worth around 100K, however since the renovations to the 1.1m home were completed, the assessments of all the houses in the area increased, quite alot in some cases.
Willful ignorance is the downfall of every major empire in history.
"Political power grows out of the barrel of a gun." - Mao, 1938
Buffalo Web Hosting and Graphic Design
www.onlinemedia.net - www.vinyl-graphics.com
Web hosting / Web Design - Signs, Banners, Vehicle Graphics
If all homes increase alike, then the tax will not change. For example, if every home in Cheektowaga is assessed at 62% of FMV, increasing everyone's assessment to 100% of FMV will not change the amount of tax paid.
If everyone's home goes up 10% in maket value, no one's taxes will increase.
yes it will. That was one of the talking points a while back why our town was not switched to 100% FMV versus 62%. Because it is a multiplier I figure the property taxes would still be the same at the end. I think what 4248 is referring to is when the property value increases not going from 62% to 100% FMV
Buffalo Web Hosting and Graphic Design
www.onlinemedia.net - www.vinyl-graphics.com
Web hosting / Web Design - Signs, Banners, Vehicle Graphics
There are currently 1 users browsing this thread. (0 members and 1 guests)