Penfield Assessment Revaluation

Your property assessment reflects the property’s Market Value when openly marketed.  Ideally, the assessment remains at 100% of Market Value.  But the expense of revaluing all of the properties at once prohibits doing a revaluation every year.  Given that - assessments are carried over from year to year and usually become, on average, a percent of Market Value other than 100%.  The property tax rates are then adjusted annually to take into account the overall average percent deviation from market value.

After several years, a town-wide Revaluation occurs to bring property Assessments to 100% of Market Value.  Again the tax rates are adjusted such that the average property would not experience a tax increase any more so than usual (Tax bills usually increase from year to year to account for budgeted inflation.).  As usual, physical changes – improvements, additions, or demolitions – would cause a change in the assessment because those changes affect the description and, therefore, the market value.

The Revaluation creates property value Assessments at Market Value, using recent valid sales to generate values for the majority of properties that did not sell recently on the open market. 

Step 1: Estimating your Market Value

To evaluate the Market Value of a residential property, compare it to recent sales of three (3) or more similar properties (based on location, style, age, size, and features; with adjustments for minor differences).

Below are resources for evaluating Market Value Assessments:


Step 2: Informal Revaluation Assessment Review

Step One (1) must be completed first.
For an informal 10-minute review of your assessment by phone, please call (585) 340-8610 as soon as possible (usual weekdays between 9 am to 4 pm) to schedule the phone review.  Provide a phone number for the reviewer to call you on the scheduled date and time.  Please be prepared to present three (3) or more comparable open market sales during the informal review (see above).


Step 3: Formal Assessment Review

Step One (1) should be completed first.
For a formal review, by The Board of Assessment Review (BOAR), complete and submit the RP-524 application with supporting documentation by the upcoming 4th Tuesday in May.  Once the application is submitted you can then schedule a hearing (by you or the representative on the application), or you may submit it for review to The BOAR without a hearing.

If the link above does not work, form RP-524 is located on the NYS Property tax forms - Assessment grievance web page:  https://www.tax.ny.gov/forms/orpts/assessment_grievance.htm