News Release - Some Residential Property Values Up in 2012 Reassessment

City of Rochester

News Release

(Tuesday, Jan. 3, 2012) — Estimates from the 2012 reassessment indicate property values are going up throughout the city, according to Assessor Thomas G. Huonker.

These new assessments will be used to calculate the property owners’ City/School tax bill of July 2012 and the following Monroe County tax bill in January 2013. Reassessment determines the way the tax levy is distributed among properties. Some properties will see a tax increase; others will see no change or a decrease.

While the city’s average residential assessment increase was 4.65 percent, some neighborhoods, such as the South Wedge and Atlantic-University, saw higher than average increases. Commercial values citywide will likely remain flat.

Reassessment letters have been mailed to city property owners. The mailing included the property’s 2012 reassessment information, outlining the new assessed value. If property owners haven’t received a letter about reassessment, they should contact the City Assessor’s office at 428-7221.

Property value for tax purposes should reflect fair market value. The property should be assessed at what it would sell for on the open market. In order to maintain accuracy and fairness for city property owners, periodic reassessments are needed. That means, every four years, more than 66,000 properties have to be reviewed and reassessed based on comparable sales in the neighborhood and prior assessments dating back to 1984.

The City Assessor reassesses all properties every four years. The last reassessment was done for 2008, and the next reassessment will be for 2016. The recent reassessment is a modest increase, compared to 2008 when home values climbed about 12 percent.

“For some communities this reassessment will have more of an impact than others; however, we still want to offer all property owners the same opportunities to discuss, or in some cases contest, a property’s reassessment,” said City Assessor Thomas G. Huonker.

Property owners seeking an informal review of their 2012 assessment must call 428-6544 by Friday Jan. 20, 2012. Unlike past years, all meetings will be held in the City Hall Building, 30 Church St. in downtown Rochester. City Hall is located at the corner of Church and North Fitzhugh streets. If property owners are unable to visit City Hall, phone appointments may also be scheduled.

There are no costs or fees for the materials or Board of Review process.

The City’s Board of Assessment Review will begin meeting on March 1, 2012 to hear and decide on valuation complaints.

For more information or to download forms, go to www.cityofrochester.gov/assessment or call (585) 428-7221.

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News Media: For more information, contact the City Assessor’s office at 428-7221.