2. What is a reassessment? The Real Property Tax Law (Section 102) defines a reassessment as "a systematic review of the assessments of all locally assessed properties, valued as of the valuation date of the assessment roll containing those assessments, to attain compliance with the (statutory) standard of assessment."  

3. Why is Rockland County being reassessed? The five towns that make up Rockland County (Clarkstown, Haverstraw, Orangetown, Ramapo and Stony Point) have all undertaken reassessment projects on their own at various points in time from the late 1960’s to the late 1980’s. As a result, each of the town assessment rolls reflects a different level of assessment as compared to current market value. With the changes that have occurred in the real estate market over time, all towns needed to update their assessments. With school districts and other taxing jurisdictions overlapping town lines, it made sense to reassess together so that all assessments would reflect market value as of the same point in time and taxes in these shared districts could be apportioned equitably. 

4. What will the reassessment mean to my property taxes? The answer to that question depends upon how you are currently assessed relative to every other property in your town. Past experience has shown that approximately one-third of the properties will see an increase in their taxes, one-third will see a decrease in their taxes and one-third will remain the same. 

5. I’ve heard you develop values by computer. Is this correct? Just as in many other fields, computers are useful in the assessment process. Assessors/appraisers are trained to look for relationships between property characteristics and market value. By coding these characteristics and studying sales prices, assessors can estimate value by developing formulas and models. Computers are much faster and are capable of advanced analysis in this area. But despite these capabilities, common sense and appraiser judgment are always required to verify assessments. 

6. Explain the differences between sales price, appraisals and assessments? Sales price is the actual price a buyer pays for a particular property. An appraisal is a detailed single property valuation, which can have a variety of purposes, e.g. mortgage loan, sale, estate valuation. An assessment is a mass appraisal of property as of January 1 each year for tax purposes. Assessments are based on large numbers of sales that are analyzed to determine values for large groups of similar properties.  

7. How can a property be assessed for more than its purchase price? Real estate may be assessed for more than the sales price because the assessment reflects "fair market value." Fair market value is not necessarily the price paid for a piece of real estate, but rather what it is worth on the real estate market. Values change and the property value may have gone up since the purchase. This is especially true if the property was purchased several years ago or if a person happened to get a good buy because of a distress sale condition. Assessed value should represent fair market value, which may or may not be the same as sales price.  

8 Why tax property? Property taxes provide the funds so that local governments can provide needed services – like educating our children and protecting us from crime. Without property taxes many of the services provided by local government would not be available. The assessor is not responsible for the amount of taxes collected. The assessor’s primary responsibility is to find the fair market value of your property, so that you pay only your fair share of the property tax. The value of your property is only one part of the equation.  

9. What is the Property Tax? The property tax is a local tax, raised and spent locally to finance local governments and public schools. It is the largest single revenue source for local governments in New York State. In 1998, some 9,000 taxing jurisdictions levied approximately $25 billion in real property taxes. While State government receives no money from the real property tax, this stable revenue source is vitally important to New York State’s ability to deliver its services. Owners of real property pay taxes on their land and improvements and structures on the land. The amount of real property tax they pay depends on the value of the property. The local assessor determines what the value is.  

10. What determines the amount of a property tax bill? Two things determine the amount of an individual property’s tax bill: the property’s taxable assessment and the tax rates for the taxing jurisdictions in which the property is located. The tax rate is determined by the amount of the tax levy, which must be raised by the taxing jurisdiction to provide services, and the total taxable assessed value of the jurisdiction. The property’s taxable assessment is determined by the assessor and is based on the value of the property less any applicable property tax exemptions.  

11. What are examples of property tax exemptions? While all real property in an assessing unit is assessed, not all of it is taxable. Some, such as religious or government owned property are completely exempt from paying property taxes. Others, such as veterans or low-income seniors, are partially exempt. Although local governments do not have the authority to create exemptions, the localities, in some cases, are authorized by State law to determine whether they will grant the exemptions, and, if granted, what the amounts will be. The more exemptions that are permitted, the smaller the property tax base becomes in the community. The property tax burden then becomes greater for those property owners who have no exemptions. An exception to this is Governor Pataki’s School Tax Relief (STAR) program, which is a State-funded exemption that does not reduce the local tax base.  

12. What will happen to my assessment if I improve my property? Generally speaking, improvements that increase the market value of a property will increase the assessed value. The following are typical items that will increase the assessed value of your property: additions, garages, central air conditioning, fireplaces and extensive remodeling.  

13. When is new construction added to the assessment roll? Taxable status date is March 1^st every year. Any new construction will be valued based upon the status of construction on that date. If only partially completed a value will placed on the completed portion.  

14. Will my assessment go up if I repair my property? Good maintenance will help retain the market value of your property. Generally, your assessment will not be increased for individual minor repairs such as those that follow; however, a combination of several items could result in an increased assessment: replacing hot water heater, repairing or replacing roof, replacing decks and porches, repairing or replacing siding, repairing or replacing interior walls and ceilings, upgrading electrical, replacing furnace, replacing windows, doors, etc.  

15. How can my assessment change when I haven’t done anything to my property? General economic conditions such as interest rates, inflation rates, supply and demand, and changes in tax laws, will influence the value of real estate. As property values change in the market place, those changes must be reflected on the assessment roll.