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Thread: Full market assessments coming?

  1. #16
    Member Riven37's Avatar
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    My home is $87,000 + I pay nearly $3,000 in taxes making me pay more will put me right out of my home and into the street. I have no children yet I pay school taxes, I'm a disabled war veteran the town helps me a bit yet that could stop at anytime. FMV is another way for this share the wealth crap.
    Riven37
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  2. #17
    Member nogods's Avatar
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    Quote Originally Posted by Riven37 View Post
    My home is $87,000 + I pay nearly $3,000 in taxes making me pay more will put me right out of my home and into the street. I have no children yet I pay school taxes, I'm a disabled war veteran the town helps me a bit yet that could stop at anytime. FMV is another way for this share the wealth crap.
    Is your home is assessed at 87,000 or is its full FMV 87,000? Under the existing system, a home assessed at 87,000 should have a full FMV of 140,320. A home with a full FMV of 87000 should be assessed at 53,940.

  3. #18
    Member mikenold's Avatar
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    The one thing that will change with FMV is that you will be able to compare the property taxes you pay with any other municipality with FMV. It is an easy calculation with both homes at FMV. It is a difficult calculation for comparison when you asses at anything less than FMV.

    The tax per thousand will change lower and the budget or the amount collected in property taxes stays the same.

    So the tax on a 100,000 dollar home in Cheektowaga can be compared with the tax on a 100,000 dollar home in West Seneca without any extra calculations.

    There are a few taxpayers, namely Galleria and some others that will end up paying more but for most homeowners the tax will remain relatively the same.

    I am for this change and have been asking for it. I have spoken with Mary Holtz and she is for it. It will be a welcomed change!
    Last edited by mikenold; August 26th, 2013 at 07:39 AM. Reason: change
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  4. #19
    Member nogods's Avatar
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    Quote Originally Posted by WNYresident View Post
    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?
    the 75,000 homes are not worth more simply because a 200,000 home was built next store. The property tax is based on the FMV of real estate. We don't have a per capita property tax. So the issue is whether we continue the current unfair partial assessment system or change to a fairer full FMV system.

    The only people who what to continue the current system are (1) people who are under assessed relative to their neighbors and want to continue sucking off their neighbors like a fraudulent welfare recipient, or (2) people who are ignorant of the math when it cones to the assessment system and don't know they are getting screwed by their leeching under assessed neighbors.

  5. #20
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    Quote Originally Posted by mikenold View Post
    The one thing that will change with FMV is that you will be able to compare the property taxes you pay with any other municipality with FMV. It is an easy calculation with both homes at FMV. It is a difficult calculation for comparison when you asses at anything less than FMV.

    The tax per thousand will change lower and the budget or the amount collected in property taxes stays the same.

    So the tax on a 100,000 dollar home in Cheektowaga can be compared with the tax on a 100,000 dollar home in West Seneca without any extra calculations.

    There are a few taxpayers, namely Galleria and some others that will end up paying more but for most homeowners the tax will remain relatively the same.

    I am for this change and have been asking for it. I have spoken with Mary Holtz and she is for it. It will be a welcomed change!
    GETTING a letter from Property Tax Assessment Dept of your town...is like getting a letter from the IRS!...I dont know which is worse!

  6. #21
    Member nogods's Avatar
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    Quote Originally Posted by joe d. View Post
    GETTING a letter from Property Tax Assessment Dept of your town...is like getting a letter from the IRS!...I dont know which is worse!
    The system works best when the town uses a 100% fmv for assessment, AND citizens use the administrative appeal process and the SAR process if necessary to challenge over valued assessments.

    For example, lets say the town assess all the homes on my street at 150,000. None is worth more than 100,000. If I'm the only one who challenges the assessed value and the only one who gets a reduction to 100K, then all my neighbors are overpaying relative to me.

    Every homeowner needs to take responsibility for determining the FMV of their home (get an appraisal, even if only a real estate agents market value appraisal), stay aware of what homes in your area are selling for, and check your assessed value every year. File an appeal if you think it is too high.

  7. #22
    Tony Fracasso - Admin
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    Quote Originally Posted by nogods View Post
    the 75,000 homes are not worth more simply because a 200,000 home was built next store. The property tax is based on the FMV of real estate. We don't have a per capita property tax. So the issue is whether we continue the current unfair partial assessment system or change to a fairer full FMV system.

    The only people who what to continue the current system are (1) people who are under assessed relative to their neighbors and want to continue sucking off their neighbors like a fraudulent welfare recipient, or (2) people who are ignorant of the math when it cones to the assessment system and don't know they are getting screwed by their leeching under assessed neighbors.
    I assume it is just a multiplier so by rights your tax load should stay the same.

  8. #23
    Member nogods's Avatar
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    Quote Originally Posted by WNYresident View Post
    I assume it is just a multiplier so by rights your tax load should stay the same.
    True, except for homes that have been under assessed or over assessed.

  9. #24
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    Quote Originally Posted by nogods View Post
    True, except for homes that have been under assessed or over assessed.
    This change was made in Evans about 5 or 6 years ago. The major uproar IMO was indeed from people who had been underpaying for the last 30 years or more.

    In the end my taxes dropped roughy 500 dollars a year. Not a ton, but better than nothing.

  10. #25
    Tony Fracasso - Admin
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    Quote Originally Posted by nogods View Post
    True, except for homes that have been under assessed or over assessed.
    How so if it is just a multiplier? As long as the budget stays the same would the cost per property basically stays the same. Or will the town reassessed each home that wasn't assessed in the last 10+ years. I think we were assessed 3 times since we moved in.

    By now with these new computer systems it should be a piece of cake knowing which homes having been reassessed since the 50's or 60' or 80's.

  11. #26
    Member nogods's Avatar
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    Quote Originally Posted by WNYresident View Post
    How so if it is just a multiplier? As long as the budget stays the same would the cost per property basically stays the same. Or will the town reassessed each home that wasn't assessed in the last 10+ years. I think we were assessed 3 times since we moved in.

    By now with these new computer systems it should be a piece of cake knowing which homes having been reassessed since the 50's or 60' or 80's.
    A switch to full fair market value assessment brings with it a re-assessment of all property in the town.

    So, if your home is worth 150k but was assessed at only 75k (a 50% ration, i.e., 12% points below the 62% average ratio) then the new assessment will increase you total tax because you won't be getting away with a below value assessment. If your home has a full fmv of 150K and was assessed at 100K (a 66% ratio, i.e. 4% points above the 62% average ratio) then the new assessment will lower your total tax because you won't be paying higher than fair share.

    With a new assessment, the leeches pay more, the host the blood suckers were feeding off will pay less.

  12. #27
    Tony Fracasso - Admin
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    Quote Originally Posted by nogods View Post

    With a new assessment, the leeches pay more, the host the blood suckers were feeding off will pay less.
    I have been told that over the last 4 years the entire town has been reassessed. If so we really don't have many leeches.

  13. #28
    Member nogods's Avatar
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    Quote Originally Posted by WNYresident View Post
    I have been told that over the last 4 years the entire town has been reassessed. If so we really don't have many leeches.
    not on my street they weren't.

    In any event, full fmv assessment is so transparent that it is necessary to re-value every year or at least bi-annually. That is why it is a better system

  14. #29
    Tony Fracasso - Admin
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    I have no issue with it. Will make it easier to show that our property taxes are higher compared to other local towns in Erie County.

  15. #30
    Member nogods's Avatar
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    Quote Originally Posted by WNYresident View Post
    I have no issue with it. Will make it easier to show that our property taxes are higher compared to other local towns in Erie County.
    Yes...but the three amigos and Holtz will claim they lowered the tax rate by 38% because the rate per 1000 will go down when the assessments go from 62% to 100%, even though the total tax paid remains the same. I guarantee, or, as Justin Wilson would have said "I gar-on-tee!"

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