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Q: What is an assessment?
A: A property's assessment is a percentage of its market
value. Market value, as defined by the International
Association of Assessing Officers, is the "most probable
price expressed in terms of money that a property would
bring if exposed for sale in the open market. The sale
should be in an arm's-length transaction between a willing
seller and a willing buyer, both of whom are knowledgeable
concerning all the uses to which the property is adapted and
for which is capable of being used."
Q: Is the City of Oneonta assessing at full market value?
A: The City of Oneonta has recently completed a citywide
real property revaluation and is currently assessing all of
its properties at 100 percent of their fair market value. A
revaluation is meaningless unless it is updated periodically
and kept in pace with changing market values. New York State
Real Property Tax Law, Section 302 mandates local
municipalities to assess at a uniform percentage of value;
based on that value, the state assigns an equalization rate
to each municipality. The 2005 equalization rate assigned by
the State of New York to the City of Oneonta is 100
percent..
Q: Is my assessment going to change again?
A: In order to maintain equity within its tax rolls, the
City of Oneonta is undertaking an Annual Reassessment
Program sponsored and recommended by the State of New York.
The program calls for the annual systematic analysis of
locally assessed property and the revision of assessments
where necessary, so that a uniform percentage of 100 can be
maintained. In other words, you should expect your
assessment to increase, decrease or remain unchanged on an
annual basis and according to local market conditions.
Q: How does the Assessor keep assessments in pace with
market values?
A: "Updates", as they are called, are conducted by a
systematic market data analysis of all locally assessed
property. Through the assistance of regression analysis
software programs, annual reassessments are accomplished by
conducting field inspections; sales verifications; trend
factors; income and expense updates for income producing
properties; and neighborhood analysis for both, commercial
and residential properties.
Q: If as a result of this reassessment my assessment
increases, won't my taxes also increase?
A: The effect of a reassessment on your tax bill may vary
and there are a number of reasons why it is almost
impossible to predict the impact on any individual property
owner's tax bill. However, it is important to understand
that real property and school taxes are based on the value
of your property. It is also important to understant that
the amount of taxes are determined by budgets and services
provided by local municipalites. Most taxpayers do not mind
paying their taxes, as long as they are fair, equitable, and
comparable to similar properties.
Q: Does a revaluation or update mean that the City is going
to collect more property taxes?
A: No. The amount of property taxes collected is the result
of budgets approved each year by the County, City, School
District, and special districts such as our library. The
purpose of a revaluation or an update is not to "make money"
but to correct inequities in property assessments. A
revaluation simply redistributes the tax dollars within the
tax base, so that property owners pay only their fair share.
Q: Is it true that nowadays computers are doing the
assessments. Can a computer match the human judgments made
by a professional assessor?
A: If your locality undertakes a computer-assisted
revaluation, the computer will not be determining your
assessments. It will be used only as a tool to help
assessors do their work more quickly. The computer routines
simply will be making the mathematical calculations that, in
the past, assessors had to do by hand.
Q: Does the Assessor have to be let into my home?
A: The New York State Assessor's Association pamphlet,
"Understanding Assessments and Property Taxes," states:
"The Assessor has a right to go to your front door and seek
admittance (possibly he or she will only want to inspect the
exterior of the house) but must leave the premises if asked
to do so."
"If it is really inconvenient to allow an inspection at that
time, tell your visitor just that, and try to make an
appointment for some other date. However, if you can spare
the ten minutes or so that will usually be required, we urge
that you allow it to proceed so that the information
necessary for equitable assessment can be gathered."
Q: Do I qualify for any kind of real property tax exemption?
A: You may be eligible to receive a veteran's exemption if
you served during certain times and places in the Armed
Forces of the United States. You may also be eligible to
receive an additional exemption if you have a
service-connected disability. Please note that the veteran's
exemption does not apply to school taxes.
In addition to the veteran's exemption, senior citizens that
meet income, age, and residency requirements may qualify for
an aged exemption. This exemption, which applies to both,
real property and school taxes, allows up to 50% reduction
on tax bills. Because different municipalities have
different eligibility criteria, you should contact your
local Assessor regarding further information and deadlines.
Q: What is STAR?
A: The School Tax Relief (STAR) is a program that provides
partial exemption from school property taxes for
owner-occupied primary residences. There are two kinds of
STAR exemptions: The Enhanced Star and the Basic Star.
Q: I am a senior citizen, do I qualify for the Enhanced Star
exemption?
A: The Enhanced Star exemption, which exempts up to $50,000
of the full market value of a home, applies to seniors 65
years of age or older whose household adjusted gross income
does not exceed $67,850.
Q: I will turn 65 years old after the March 1, deadline. Do
I still qualify?
A: Yes, as long as you turn 65 before December 31 of the
same year.
Q: I don't qualify for the Enhanced Star. Do I qualify for
the Basic Star exemption?
A: Yes. The Basic Star, which exempts up to $30,000 of the
full market value of a home applies to any homeowner
regardless of age and income, as long as they reside in that
home.
Q: What other documentation do I need to bring with my
Enhanced Star application?
A: If you are applying for the first time, you are required
to bring a photocopy of your latest available income tax
return, as well as proof of your age and home ownership.
Q: I already have an Enhanced Star exemption. Do I have to
renew it every year?
A: Yes. You are required by state law to renew your Enhanced
Star exemption every year. However, under new legislation
you may be eligible to participate in the "Automatic Renewal
Program." This option allows recipients of the Enhanced STAR
exemption to automatically renew their annual application
through an Income Verification Program. Eligible applicants
must file New York State Income Tax Returns on an annual
basis. In addition, an authorization form (RP-425-IVP) must
be filed with the Assessor. It is recommended that you call
our office before you proceed with this option.
Q: What if I decide not to participate in the Automatic
Renewal Program?
A: If you do not file State Income Tax Returns or decide not
to participate in the "Automatic Renewal Program" you have
to continue to renew your exemption as in the past. We will
mail you the renewal form every year, and it will be your
responsibility to return it to us with the preceding income
tax returns or annual income statements, such as W-2 forms,
Social Security forms, bank interests, etc..
Q: What do I need to apply for the Basic Star exemption?
A: You only need the completed application. However, the
Assessor may also ask you to submit proof of ownership and
residency.
Q: I have been granted a Basic Star exemption. Do I need to
renew it every year?
A: No. The Basic Star exemption does not have to be renewed.
Q: Is there a deadline by which I must file the application
forms?
A: Yes. The deadline for all exemption applications is March
1. However, different municipalities have different
deadlines; this is why you should contact your local
Assessor for further information.
Q: Where can I get the applications forms?
A: You must file the application forms with your local
Assessor. Your local Assessor is located in the same
municipality where your actually reside. You may also
download these applications from the New York State Office
of Real Property Services' web page at www.orps.state.ny.us
Q: Where can I go with additional questions?
A: The Assessor is continually communicating with the
public, answering questions, and dealing with concerns
raised by taxpayers. You may reach the City Assessor at the
Office of the Assessor, City Hall, 258 Main Street, Oneonta,
New York 13820
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