Livingston County Municipal Reassessments 2022
Dawn LoPresto
As a seasoned & experienced Realtor for over 15 years, as well as a sitting member of the Town of Livonia's Board of Assessment, I wanted to provide clarity to the current property assessment process.
I'm seeing many conversations all over social media from home owners in "sticker shock" over their recent property reassessment notices. New York home owners pay some of the highest property taxes in the country, so news that property taxes might increase significantly, is upsetting for all of us. Having an understanding, as to how & why, is important, so hopefully this information will provide more clarity.
Assessed Value vs. Appraised Value
As a Realtor, many of my potential seller and buyer clients start by getting an idea of home values within a market area. In order to determine a general home value, I have many resources to help me determine this value through a competitive market analysis or "comps" in the area. The local Town/Village Assessor has similar resources in order to "Assess" the current value of your home. This value is not as specific to your home as an appraised value, which you would hire someone to do for purpose of determining an exact value of your particular home. Appraised value considers the age of the home, condition of the home, amenities, etc. that might truly separate your home from other "comparable" homes in your area.
Tax Rate vs. Home Value
As a Realtor who sells many lake properties, I can tell you this is a real misconception. Most home owners in the area understand that lake owners pay more in property taxes than those that live off of the lake. Typically this is true, however lake owners do not pay a higher tax rate than those that live off of the lake. Lakefront associated with a property, typically increases the value of the home on that property, therefore the home owner pays higher taxes simply because the home, generally speaking, is worth more. The chart from TAX.NY.GOV (CLICK) shows that since 2010 the average TAX RATE for homeowners in Livingston County has stayed around $33.00-$35.00 per $1,000.00 in assessed value. Therefore these increases this year are almost solely due to fairly dramatic increases in area home values.
Understanding Reassessment
Reassessments ensure you pay only your fair share of taxes relative to your neighbors. It is very evident that this year, most properties have experienced an increase in value. But the question remains, "how much?" Selling properties on Conesus Lake, Honeoye Lake and especially Canandaigua Lake, I can tell you property values increased noticeably higher for lake listings than off-lake listings. While most are upset about paying anymore taxes, without Reassessment you could actually be paying more than your fair share relative to other homeowners in your area.
Reassessment Does NOT Necessarily Mean Your Taxes Will Automatically Increase
Determining your property tax liability is more complicated than simply tying the current tax rate to your new assessed value. Your tax liability is also determined by other assessments in your area. If the increase of your assessment is less than the average increase, your taxes may actually decrease. Example:
- If, your assessment increased by 12% and
- the average assessment increase was 15%, then
- your taxes will decrease (assuming your school and municipal budgets remain stable and the tax levies do not increase)
What you can do
If you feel that your reassessment is too high, you can dispute the reassessment. BE PREPARED! You will need provide evidence to support this argument. The best way to do this, is to have your property professionally appraised. This appraisal will detail the specific conditions of your property that will justify a lower assessed value, if applicable.
Realtor Advice: If you are considering selling you home, I can help. Our Real Estate inventory is still very low, so your property has likely never been worth more. Some people have contemplated moving south in retirement or other reasons, so now might be great time. Others may rent for a while and see what's available in the future. Some might be interested in building now or a later date. I'd be happy to guide you through this exploration. Give me a call at 585-797-7020!!
Local Municipal Assessment Resources:
