General News: Village Lowers Nine Assessments
December 19, 2008
The village of Cornwall-on-Hudson will be lowering the assessment on nine properties after owners appealed to the assessment grievance committee. The village board on Monday adopted all of the recommendations of the committee to lower assessments, which will reduce village tax rates on the property owners. Another six people applied for a reduction in their assessment and were denied.
The committee dropped assessments from four to 36 percent on the nine properties, for a total reduction in value of more than $578,000. The biggest drop was for a property on Grand View Avenue whose value was lowered $168,225, from $458,500 to $290,625.
Assessed values are based on the market value of a property and as real estate values have fallen dramatically in the past year, assessments had to be affected.
The decision by the Cornwall-on-Hudson board to lower assessed values will only impact village taxes. There is a separate grievance procedure for homeowners who want their assessments lowered for paying town and school taxes.
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458,500 to 290,000. Wonder who his neighbor is...
posted by Katherine Santiago on 12/19/08 at 6:13 PM
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What is the procedure for grieving taxes - I live in the town ?????
posted by Linda Carella on 12/20/08 at 8:24 PM
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