CARTHAGE Town of Wilna property owners by now should have received a change of assessment notice.
Most will see an increase in their property assessment after Assessor Robert B. Ball completed a yearlong revaluation of all commercial, industrial, vacant and residential parcels. The reassessment project was conducted in order to bring all property up to full market value, Mr. Ball said.
The last revaluation was done in 2008, and since that time, the market value of homes has grown dramatically 15 to 20 percent, the assessor said.
According to Paul J. Warneck, director of Jefferson County Real Property Tax Services, townwide the assessed valuation went up 10.8 percent from the previous year.
Property assessments are based on sales of similar homes and what it would cost to build the same style structure minus depreciation for the age of the building. Comparable homes would take into consideration the houses location, style, condition and square footage. Any additional items on the property, such as porches, sheds or garages, also are taken into consideration.
Mr. Ball said if a property owner feels an assessment is unfair, an informal hearing may be set up and, for those still dissatisfied, there is a grievance day scheduled for May 28.
To explain the revaluation process, Mr. Ball has created several poster boards to demonstrate the value of homes, noting how much houses in the town are assessed for and for how much they recently sold. The assessor has been working on valuation for six years, two with the town and four previously for Jefferson County.
The assessor said residents can compare their homes to similar ones on real estate current listings such as NNYMLS.com. To answer questions, Mr. Ball can be reached at 493-4207. To set an informal hearing, call 786-7447.
Mr. Ball said if residents plan to meet with him, they should bring photos and any privately conducted appraisal. After the informal hearing, Mr. Ball will review the information, look at the property again and send a second notice relating what, if any, change was made.
Residents who are still dissatisfied can go before the five-member Board of Assessment Review.