Last week you should have received a mailing from the Town regarding your proposed new assessed value of your home. The assessed value reflects either an increase, a decrease, or a relatively stable position in taxes. According to the statistics that we emailed to you earlier, there was a 66% likelihood that your taxes were either reduced or remained somewhat stable. A third of the residents will see increases in their assessed values.
On Tuesday, March 29th, the Town Board will be discussing a 5 year phase option with a representative of the NYS office of real property tax services at the 9:30 AM work session at Town Hall. The meeting is televised and streamed live on the web at the www.greenburghny.com web site. The impact of adopting this law will mean that any resident who’s property has been assessed at a higher rate will have five years to slowly ease into the new rate. It also means that any resident that has been overpaying for 50+years, will continue to overpay for another five years. The decreases will not be effective, in full, immediately. Those residents, who have been overpaying, will be asked to wait another five years before they will see their true reduced assessed tax values. They will receive only 20% of their decrease, each of the five years in order to ease the transition for the homeowners that are now being asked to pay their corrected assessed taxes. In fact, if you are one of the residents that remained relatively stable throughout the reassessment process, if the Town enacts the Five Year Phase In Process, you may now show an increase in your assessment in order that you also assist in paying for residents that have been under assessed for all this time! The assessments will affect your Town taxes, your School taxes, your Fire taxes and your County taxes.
The reassessment is “NET NEUTRAL”. When one taxpayer is allowed to pay less, the other tax payers are asked to pay more. At the end of each tax period the Town only collects the amount that has been budgeted for and approved. For many years now, the Town of Greenburgh has budged millions of dollars for certiorari settlements. The reassessment was a means to end these large settlements and lower our tax obligations as a whole. Prolonging the finalization of the reassessment values by enacting this legislation will only prolong the increase in the budget for certiorari settlements.
If you are unclear about the reassessment, its impact on you and/or the Town, you are welcome to contact us, Paul Feiner, the Town Board members, or Edye McCarthy, the Town Assessor to assist you in explaining the impact. You can call, email, or write.
Below is a copy of the email that Paul Feiner sent out to residents regarding the Five-Year Phase in Plan that the Town Board is considering:
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TOWN BOARD TO DISCUSS 5 YEAR PHASE IN OPTION WITH A REPRESENTATIVE OF NEW YORK STATE OFFICE OF REAL PROPERTY TAX SERVICES THIS TUESDAY AT 9:30 AM
OUR MEETINGS ARE TELEVISED AND STREAMED LIVE ON THE WEB: www.greenburghny.com
As you know the Town is conducting a Town Wide Reassessment. Some property owners have expressed concern about increases in their assessments. At the last Town Board meeting, a suggestion was made that the Town Board consider Section 1904 of the New York State Real Property Tax Law which allows a municipality to phase in the new 2016 assessments over a five year period. The Town Board will be meeting on Tuesday, March 29th, at 9:30am to discuss Section 1904 of the New York State Real Property Tax Law. The public is invited to attend.
If the Town Board adopts Section 1904, it requires assessment increases as well as assessment decreases to both be phased in over 5 years, instead of immediately.
The Town has requested our New York State Office of Real Property Tax Service Representative and others to be in attendance on Tuesday to participate with the discussion. If the Town is to adopt Section 1904, it must do so by adopting a local law no later than May 2, 2016, after holding a public hearing. Therefore, the Town Board, on Tuesday, March 29th, will introduce a local law and schedule a public hearing on April 13th, the Town Board’s next regularly scheduled meeting. Your comments and concerns are welcome at the April 13th public hearing.
In the interim, the Town continues to gather information regarding Section 1904 and looks forward to your comments in order for us to make an informed decision in the best interest of our taxpayers.
Inasmuch as this meeting is being held in the daytime – if you have any questions you would like the Town Board to ask the representative of the New York State Office of Real Property Tax Services – please e mail town board@greenburghny.com.
We are also planning to discuss other mitigation initiatives that could help ease the impact that reassessment is going to have on some property owners.
PAUL FEINER