Town Assessment Revaluation
homes town
Category:
Town

The Town of Penfield held a public information session on the 2022 Town-wide reassessment on Wednesday, April 27 in the Town Hall auditorium

VIDEO RECORDING LINK

Joseph H. Emminger, President of Emminger, Newton, Pigeon, & Magyar Inc., lead the information session. Emminger has worked with municipalities in the region over his career guiding the reassessment process. Mr. Emminger gave an overview of reassessment, including why it takes place and how it impacts taxes. Following the presentation, a question-and-answer session with Emminger took place covering the reassessment process. 


The Town of Penfield will be conducting a Town-wide reassessment in early 2022. The reassessment is part of the regular property valuation process which occurs in communities throughout New York State including several area towns in 2022. Your property's assessment is one of the factors used by local governments and school districts to determine the amount of your property taxes. Town of Penfield taxes account for roughly 8% of your total tax bill. Reassessment does not automatically mean your taxes will increase. For many, taxes may remain nearly the same or even decrease.

The goal of the Town of Penfield is to complete the reassessment process in a fair and efficient manner. The process will be completed entirely at the local level beginning in February 2022.

Why is reassessment necessary?

Over time, the value of properties may increase, while the value of other properties may decrease. Regular property reassessment ensures assessed property values are based on current market values. Property reassessment does annually occur for physical changes including demolitions, additions, and improvements.

However, a Town-wide reassessment goes further, and aims to ensure all properties throughout the Town receive uniform assessment at one time therefore creating a fair and equitable system for all Penfield property owners.  Below is an example created by New York State.


Reassessments ensure you pay only your fair share of taxes
After several years without a reassessment, some properties will be over-assessed and some will be under-assessed. This is because some properties will have increased in value, while others may have decreased or stayed the same. Without a reassessment, all of the properties will continue to pay the same amount of taxes. For example:
 
Property reassessments
Market value/taxes Property A Property B Property C Total taxes collected by the town
Market value 20 years ago (last reassessment) $100,000 $100,000 $100,000  
Taxes 20 years ago $2,000 $2,000 $2,000 $6,000
Current market value $300,000 $200,000 $100,000  
Current taxes $2,000 $2,000 $2,000 $6,000
 
In this example, Properties A and B are still paying the same amount of taxes as Property C, even though their market value as increased over the years. Properties A and B should pay more taxes than Property C. If the properties in this example were fairly assessed, Property A would pay $3,000, Property B $2,000, and Property C would pay $1,000.
 
Without a reassessment, Property C is actually subsidizing the tax bill of Property A. This is because what one property owner doesn't rightly pay will be paid by other property owners.

Is a reassessment required?

Unlike most states, New York State does not require municipalities to conduct reassessments. However, the law does require that assessments be fair at a uniform percentage of value. As a result, some municipalities have not reassessed property in decades, while others reassess each year.

If reassessment is not conducted at the local level, the fair and uniform percentage of value is established by the State. In Penfield, the last time a reassessment was conducted was 2014.

In short, while not required, if the Town of Penfield does not act property values will be assigned based on State uniform assessment standards.

For further information on the uniform assessment standard visit the Assessor’s Office page.

What factors impact my assessed value?

  • External characteristics: curb appeal, home condition, lot size, popularity of an architectural style, and access to utilities
  • Internal characteristics: size and number of rooms, construction quality, and interior condition
  • Location: desirability for a particular school district and or neighborhood, proximity of amenities


How can I learn more about the reassessment process?

The Town understands residents may have questions regarding the reassessment process, and you are encouraged to utilize the wealth of resources offered by the Town of Penfield Assessor’s Office (link to the 2022 Revaluation web page).

To further assist with the process, and be as transparent as possible, the Town has provided resources to help understand your home’s value. You can access the tools by clicking the links below.

  • Recent home sales in Town of Penfield
  • How to estimate the value of your properties based on comparable properties

Timeline

In the coming weeks, an initial communication from the Assessor’s Office will be delivered to Town of Penfield property owners. Continue to monitor the Town website for the latest information.

Learn more at: www.penfield.org/assessment

Doc app

Document Center

The Document Center provides easy access to public documents. Click on one of the categories below to see related documents or use the search function.

Categories always sorted by seq (sub-categories sorted within each category)
Documents sorted by SEQ in Ascending Order within category