OGDENSBURG The city is reviewing residential property assessments west of the Oswegatchie River to ensure their assessed value represents their market value.
Assessor C. Bruce Green said the reassessment was triggered after homes in the area began selling, on average, for more than their assessed value.
There are only so many homes that are available for sale, and ones that have been kept up are selling higher, Mr. Green said. They typically sell higher than they would have five or six years ago.
Mr. Green said that before the reassessment, the average assessed value in the area was in the $55,000 range, although the average home was selling for $60,000.
Market value is what we all strive to do, Mr. Green commented.
Mr. Green said the last time the neighborhood was reassessed was about five years ago, before he worked for the city. He believes the latest effort will go a long way to ensure there is equity in home values.
About 900 properties west of the Oswegatchie were reassessed over the last several weeks, Mr. Green said. Only a third of them will see valuation changes. The vast majority wont be touched, he said.
Residential property owners affected by the new assessment will receive mail notices, and will have until June 17 to meet with Mr. Green to discuss the changes.
On June 17 from 2 to 4 p.m., and again from 6 to 8 p.m., the citys Board of Assessment Review will meet in the City Council chambers to hear from residents who feel their assessment should be revised.
Anyone with questions on the matter is welcome to contact the assessors office at 393-4030.
Mr. Green said he doesnt plan to reassess other parts of the city any time soon. Other than that, things look pretty decent at this point in time, he said.
Mr. Green said he will be out photographing properties from curbsides across the city over the next few months in order to keep city records up to date.