• WHO IS THE ASSESSOR ?
• WHAT DOES THE ASSESSOR DO ?
• HOW IS THE MARKET VALUE ESTIMATED ?
• WHAT ELSE DOES AN ASSESSOR DO ?
• PROPERTY OWNER'S RESPONSIBILITIES
• BUT THE TAXES ARE TOO HIGH !
• OTHER INFORMATION RESOURCES
• UNIFORM ASSESSMENT STANDARDS III-A (020910)
WHO IS THE ASSESSOR ?
The Assessor is a local government official who estimates the market value of real property within the boundaries of the Assessor's jurisdiction. The market value is then converted into an assessment. The assessment is one component of many used in the computation of the real property tax bills.
WHAT DOES THE ASSESSOR DO ?Every year the Assessor prepares a document called an assessment roll. The assessment roll contains every parcel located within the Town and Village and shows all the individual assessments, real property tax exemptions, property owners, property addresses, tax billing addresses, acreage and tax account numbers. Additional information is shown as well. Every year the assessment roll, with the tentative assessments, is made available for public inspection on May 1st. After the Board of Assessment Review, who meets on the fourth Tuesday of May, has acted on all assessment complaints and their ordered changes are made, the tentative assessment roll is made final on July 1st.
The Assessor is obligated by New York State Real Property Tax law to maintain assessments at a uniform percentage of market value, which for the Town and Village of Victor is 100%. In order to maintain a uniform assessment roll, each year the Assessor will analyze all the properties in the municipality to determine if any assessments need to be adjusted. This analysis involves comparing the sale prices of properties that have sold to their assessments to determine how close the property assessments are to the actual sale prices. When the assessments in an area, or neighborhood, appear to vary from the actual sale prices, the assessments are adjusted and are reestablished at the current market value. The Assessor signs an affidavit certifying that to the best of his/her knowledge the assessments set forth in the assessment roll are at 100% of full market value.
HOW IS THE MARKET VALUE ESTIMATED ?The market value of a property is estimated by using one or more of the three methods of valuation, sales comparison approach, cost approach and/or income approach. The most accurate and easily understood approach is the sales comparison approach. This method compares the property being valued with similar properties that have sold. Similar properties will generally sell for similar prices. The other two valuation methods are typically used for commercial and industrial properties. The cost approach estimates the cost of construction and the income approach capitalizes a lease agreement's income stream into a market value.
WHAT ELSE DOES AN ASSESSOR DO?The Assessor performs many other administrative functions such as keeping each property's physical inventory, for both the land and building improvements, current. He/she will inspect new construction and improvements made to existing structures. This ensures that the assessment is based on the property's current inventory. The Assessor also approves and monitors real property tax exemptions. Among the most common are the senior citizen, School Tax Relief (STAR), veterans, agricultural and business.
The Assessor also reviews every transfer of real property for accuracy, including the basic information on the buyer, seller, sales price and what actually transferred. Assessment records are updated, and any unusual conditions affecting the transfer are noted and verified. The new owners are notified of any exemption removals and residential property owners are sent a sales verification letter along with a STAR exemption application.
PROPERTY OWNER'S RESPONSIBILITIES:It is up to each individual property owner to monitor their own assessment(s). A taxpayer who feels he/she is not being fairly assessed should meet with the Assessor before the tentative assessment roll is established (May 1). First, the taxpayer needs to call the Assessor's office to schedule an appointment, then in an informal setting, the Assessor can explain how the assessment was determined, the rationale behind it and answer any questions the taxpayer may have.
BUT THE TAXES ARE TOO HIGH: The goal of the Assessor is to fairly assess the property in his/her jurisdiction. Every property owner has the right that they and their neighbor only pay their fair share of the real property tax burden - not more and not less. If the taxpayer feels that his/her assessment is correct but the tax bill still seems too high, the Assessor cannot change this. Complaints to the Assessor must be about how a property is assessed and how the assessment compares to the property's full market price.
A taxpayer unhappy with growing real property tax bills, should not only be concerned with assessments but also examine the scope of budgets and expenditures of all the different taxing jurisdictions (counties, cities, towns, villages, school districts, fire districts etc. ) and address those issues in appropriate and available public forums.
OTHER RESOURCES:For more information concerning assessments, real property tax exemptions and other related topics please contact the Victor Assessment Office at 585-742-5010, or visit the New York State Office of Real Property Service's
website.