PENFIELD, N.Y. — Tuesday is Grievance Day in New York and many people across Monroe County plan to push back against their skyrocketing home assessments.
A local real estate professional is offering advice on how property assessments work and why you should make sure your home isn’t being over-assessed.
Some people were shocked to see their property assessments jump 30, 50 or even more than 100% as towns reassess homes to match current market value.
“You want to make sure that you’re being taxed appropriately for what your house is worth,” said Lane Bittner, president of the Greater Rochester Association of Realtors. “So if the houses that they’re comparing it to are your value and you see houses that are, ‘well this one is not as updated or this one is a little bit lower so I don’t think I can sell my house for that,’ then you shouldn’t be paying more than really what your house can sell for.”
Bittner says towns that haven’t been assessed in a while will see the biggest jump because the market has been a hot seller’s market for the last couple of years.
Higher property assessments often lead to an increase in your tax bill. But if you are planning to sell your home soon, that should mean you will get more for your home.
Penfield homeowner Cory Justice says he’s not happy about his assessment, but it makes sense with where the housing market is.
“From what I can tell, based on the comparables with the neighborhood and people selling, they’re not that far out of line with what the market claims to be right now,” said Justice. “I just don’t know in three years, that’s what these houses are worth. I think we’re a little out of line with what people are paying for houses these days.”
Some towns have postponed their assessments like the town of Irondequoit. The town said it did not want to add more stress to property owners on top of the inflation we’re seeing right now. Irondequoit plans to reassess next year.