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Varying Value In South County Real Estate

December 15, 2013

Americans are value hunters. We will change shopping venues to save five cents. In particular, we want value in the homes we own. It is a way to build equity over the long pull....

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Dec-17-13 6:45 AM

Now I read that Mr. Nazzaro wants to dump city expenses on to the backs of County taxpayers. Nice try Mr. N. But maybe you should help the city figure out how to reduce spending instead.

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Dec-17-13 6:42 AM

You are right Lucky, Norm Green is a political con man and should be in jail. You must pay high taxes in Jamestown every year for the rest of your life for the privilege of living in the home you paid for years ago.The services in Ellery are great. A trip to the landfill once every week or two is a small price to pay for saving thousands by not living in Jamestown. Even contracting for garbage pick up is cheaper than high city taxes, and the school system is much better too.

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Dec-16-13 3:12 PM

If the article values are correct, a purchaser can buy the same house in Jamestown for $130,000.00 or in West Ellicott or Lakewood for $300,000.00, both in nice neighborhoods. Why would someone pay an extra $170,000.00 for the same house just to save some small amount on taxes in a municipality that provides fewer services and higher utility expenses?

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Dec-15-13 9:36 PM

NPgreens comment is a political run around. North harmony is at 96 and the rest of the towns listed are at 100%. He list services in jamestown that are not in the tax picture. Water, sewer, and electric are all billed out side of the tax levy. Unless he is saying that city land owners pay taxes for these entities plus pay for the usage of these utilities. The city has a large paid fire and police dept.,large city gov't ,about 1/3 of their properties are tax exempt and a lot over their economic developement over the last few years has been in the tax exempt area. Train station, ice arena, housing on second street, all of witch added no tax income but cost the city in services.

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Dec-15-13 5:28 PM

This is my understanding. 100% assessment is the law. Towns and villages update every 5 years, so there is an equalization done by the State. The lowest they go is 95% then they re-val to 100%. What are these figures you are talking about?

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Dec-15-13 2:55 PM

In response to Regulator, last I checked the lowest county town valuation is19% of true value. I know what you are referring to and I understand why you believe what you believe...except your view is inaccurate. If what you are saying was true, we would not need equalization rates. As for Jamestown services, you need to compute water, sewer, municipal electric, police, library, recreation and senior services (to name some) in order to determine the true value or equalized assessed grand total valuation when making an accurate comparison. Just saying.

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Dec-15-13 9:55 AM

I'm curious to know what extraordinary municipal services Jamestown offers to make these higher taxes justifiable.

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Dec-15-13 9:07 AM

All these towns and villages are required to be at 100% valuation every five years right? So what's your point?

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Dec-15-13 6:51 AM

The problem with this interesting write up is that it misses a huge point; equalization rates. Different communities are at varying levels of true 100% values of the assessments. Jamestown is at one level of assessment of true 100% value of assessment (what a house or property would sell for or does sell for) and the remaining communities are at another level of true value of assessment. Thus, without this information of differnce called an equalization rate, local tax rates comparisons are misleading. Further, the cost of municipal provided services also needs to be added into the mix to fully determine the true cost of residing in one community over another. (Which the author did allude to).

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