Amherst property owners, prepare for new assessments
I'm of the view that reassessment is the only equitable way for the residential taxpayers to pay their fair share.
If you're one of the 44,000 property owners in the Town of Amherst, don't toss aside a letter from the town you'll be receiving as early as Saturday. It contains an important number - your new assessment.
And Town Assessor David C. Marrano has just one question for you: Does that number accurately reflect the price you could realistically sell your property for?
It's an important question, because it determines how much you pay in property taxes.
"The law's very clear," said Marrano. "You pay your fair share of the tax levy based on the market value of your property."
The town has embarked on its 2017 Assessment Equity Project, a townwide reassessment of properties, with the mailing Friday of preliminary notices. Every property is reviewed, from the smallest home to the largest commercial property.
The reassessment will result in some people's tax bills going up. But some owners' taxes will decrease, while others' will stay the same. The town's goal is to have one-third of property owners fall into each category after a reassessment.
Amherst last conducted a townwide reassessment in 2009, and they're recommended every four years. Some towns, including Aurora, Colden, Concord, Marilla, the Town of Tonawanda and West Seneca, had not done reassessments since the 1980s as of 2015, according to the state Department of Taxation and Finance.
Over time, the assessed value of a property can drift higher or lower than what a buyer is willing to pay for it, depending on the market. A reassessment seeks to correct that discrepancy.
"If we're not continually reviewing that, you have assessment inequity," Marrano said.
For more- https://buffalonews.com/2017/02/17/a...w-assessments/