Some values are based in part on the estimated reproduction cost of the improvements. For residential properties with ten or fewer units, assessed values may take several years to catch up with market value growth. Transitional assessment phase-ins of past increases and changes in the amount of partial exemptions may also cause the taxable value to increase. The law that created the STAR exemption requires the State to certify new exemption amounts each year based on a formula. Senior Citizen, Veteran and other partial exemptions are also subject to annual adjustments.
Finance maintains information on each property for assessment purposes.
Much of this appears on the assessment roll, which may be viewed from this website . In addition, you may request a meeting with the assessing staff assigned to your property's area to review records relating to your property. Before February 15 you will receive a Notice of Assessment that compares the new assessment with the assessment for the current year. You can also get this information by viewing the tentative assessment roll after January 15. Finance maintains a mailing address for assessment notices, which may be different than the billing address.