Impact of Reassessment on "Upper Manor Woods" [UPDATED 3/31]

What was the impact of the town-wide reassessment on our neighborhood?

This post will examine "Upper Manor Woods" (UMW) which I'm defining as the 163 single family homes on Mercer Ave, Caterson Terrace, Charlotte Place, Findlay Ave, Holland, upper Lakeview, and upper Jane]

Overall, UMW saw a decrease in total assessed value of 1.9%.

Of the 163 UMW houses I surveyed, 76 houses had assessment increases;  and 87 had decreases in assessed value.

I.  First, the changes in percentages:
A.  Significant Increases (more than 5%):  28%
The largest single house increase was 35%.
20-26%:  8 houses
15-19%:  8 houses
10-14%:  13 houses
5- 9%:     15 houses

That's 45 houses (28%) with significant increases (significant defined here as 5% or higher).

B. No significant change  ( -5% to 5%):   34%

0-  5%:  30 houses
-5- 0%:  25 houses

That's 55, or 34% of our sample.  Of course, when the mean total property tax is already about $19,000, a change of only 5% approaches $1,000 in either direction.  Yet designating this -5 to +5 ranges as not significant is the only way to make sense of the 1/3 up, 1/3/ the same, 1/3 down reassessment scheme explained by the Town Board.

C.  Significant Decreases  (exceeding -5%)
-5- -10%:    10 houses
-10 - 15%:   21
-15- -20%:  11
-20 - -25%:  9
-25 - -30%: 2
-30 - 35%:  5
-35 - 42%:  5

63 houses had significant decreases:   39%

The largest single decrease was  42%.

II.  In terms of assessment dollar value:
one house had an increase in excess of $200,000.
$100,000 - 200,000:   17 houses
$50,000 - 100,000:     16 houses
$25, 000 - 50,000:      13 houses
0 - $25,000:                28 houses

Decreases
-$25,000 - 0:               18 houses
-$25,000 --50,000:      13 houses
-$50,000 - -100,000:    31 houses
-$100,000 - -200,000:  21  houses
-$200,000   :                  2 houses had declines in excess of $200K in assessed value.


We report, you decide.