Town of Mamaroneck 2015 Property Assessment Update Frequently Asked Questions

The Town reassessed properties in 2013, why was an update completed in 2015? The Town in 2013 invested $1.3million to correct what was an antiquated assessment roll that has not been updated since The old assessment roll produced an inequitable apportionment of taxes. The Town committed at that time to insuring that equity in the assessment roll would be continued. The annual review update assures the continued fairness of the roll and maintains a 100% level of assessment as prescribed by the State of New York.

How many properties were affected by the assessment update? The State requires that the annual assessment roll update follow a systematic review of all established neighborhoods and property classes. Out of a total of 8,740 properties in the Town, including the Villages of Larchmont and Mamaroneck, 3,749 change of assessment notices were issued. This included assessment changes resulting from market analysis, property improvements or both.

Why did the assessment on my home change this year but not last year? In 2013 all property assessments were updated to 100% of market value as required by the State. In 2014 the State certified that the Town’s assessment roll still reflected 100% level of assessment (LOA)-no update was necessary. In 2015 the assessment update was initiated because sales data indicated that values were rising and without an update, the Town could no longer claim a 100% LOA.

How did the Town determine which assessments were to be updated? GAR Associates who conducted the 2013 revaluation and specializes in this field assisted the Town with the update. GAR analyzed property data and identified areas of inequity meaning a +/- 5% change of fair market value. Properties impacted by the update had assessed value to sales ratios of < 95%. Property assessments were updated in areas where the number of valid sales substantiated the change in the ratio.

Why did it appear we were given such short notice of assessment changes? As per State tax law, the tentative assessment roll must be available for public inspection on June 1 of each year. May 1 of each year is the Town’s taxable status date which is the deadline for the filing of exemptions and confirming values and changes to a property. Between May 1 and June 1, the Town Assessor must verify the accuracy of the exemptions and the accuracy of the property descriptions and features to establish the tentative assessment. On June 1 the Town mailed notices. Under State Law the notices could have been issued on June 6.

Does the change of assessment mean my property taxes will increase? Property assessments and property taxes are very different. Assessments are updated to insure the fair allocation of property taxes. The process of updating assessments is revenue neutral for government agencies. Property taxes are a product of the budgets and tax levies created by the Town, Village, School and County. Government agencies only levy the property taxes necessary to deliver services.

Other Important Points Property assessment updates are a sales driven process. Annual review by the Town insures that assessments follow the market whether it goes up or down to insure equity. Property owners are encouraged to be aware of their assessments and make sure the Town has all of the correct features of the property since those are the characteristics used for assessment comparison. Property Assessment information is available on our website