Residents of Harmony and Kiantone should prepare for property revaluation.
To keep with the paradigm of completing real property revaluations every five years, the towns of Harmony and Kiantone will undergo revaluation to create property assessments at current full market value.
According to the New York State Real property Tax Law, Section 305, property assessments must be valued at a uniform percentage. Over the past five years, both municipalities have experienced positive market changes - to real property throughout the towns.
According to Randall Holcomb, county assessor, the goal of this project is to create equitable property assessments at full market value for the 2013 assessment roll with a 100 percent equalization rate. An equalization rate is the percent of assessment as compared to the true market value. Currently, Harmony and Kiantone's equalization rate is 98 percent.
Once revaluation for the 2013 assessment role is complete, both municipalities will meet the requirements for the NYS Office of Real Property Tax Services incentive reimbursement programs, as well as increasing the equalization rate, and avoiding the school and county tax shifts as experienced in the past years when their equalization rate was reduced.
TAX BILLS AFFECTED
At the conclusion of revaluation, three tax bills will be affected.
The first tax bill affected by the reassessment will be the September 2013 school tax, followed by the 2014 town and county tax, and the June 2014 village of Panama tax.
CHECK MAIL FOR REVALUATION DATES, TIMES
Before the end of this month, all property owners affected by the reassessment will receive notification through the mail. Assessment notices detailing each parcel's prior assessment and taxes, new tentative assessment and projected taxes, and the difference, will be mailed to all parcels receiving an assessment change.
An accompanying informational sheet will detail steps that property owners should take if they would like to have an informal hearing to discuss their new market value assessment. Informal hearings on the new assessments will be completed later this month into April. For those who cannot travel to the assessor's office, informal telephone meetings are also available.
Property owners who are unhappy with the results of an informal meeting will be given the opportunity to contest their assessment at the official grievance day for each municipality before the Board of Assessment Review, which will be held during the last week of May.
COURTESY IS PARAMOUNT
Holcomb, along with Laurie Sorg, appraiser, and Cathy Andrews, assessor clerk, pledge that the Harmony and Kiantone property owners will be treated with dignity and courtesy throughout this process. They pledge that all phone calls, voice mails, mail and emails will be answered in a timely and professional manner.
The telephone numbers for the assessor's office for Harmony and Kiantone are 483-7786 and 483-7638, respectively.