May 13, 2008 Ami Olson Uncategorized
The disconnect between the health of the national and Central New York housing markets is already a topic of headlines and billboards, but never has it been more clear to property owners than at tax time.
Across the region, property owners were notified last week of changes in assessed value of their homes or property. Increases in assessed value seem contradictory to homeowners, who constantly hear of the freefalling housing market, rising foreclosure rates and falling home sales.
Janice Barry, Assessor for the town of Camillus, said the town is on an annual reassessment schedule, and the 2008 assessment roll is based on July 1, 2006 to July 1, 2007.
Here in Camillus the housing prices are not showing decreases right now, Barry said.
The average sale price of a home in the town has increased $10,000 over this time last year.
We just do not seem to be following the national trend in housing right now, Barry said.
Town of Geddess Assessor Lucille Fox said many homeowners see the dollar amount they pay in taxes, not how much their property would sell for.
They need to look at the assessed value and market value, Fox said.
Geddes is not on an annual reassessment schedule.
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