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City of Geneva embarks on reasseement process

Geneva is embarking on the process of the reassessment of every property in the City of Geneva. Have you ever wondered what the steps are in this process? Are you curious about the timeline? The city’s new assessor, Stephen Pigeon, provided some insight so residents know what to expect during this year’s process. Why the Process Matters Taxes are based on city, school, and county budgets. If all the assessments go up, it means additional revenue with the same tax rate. Depending on community needs, this could mean lower taxes, or that taxes will stay the same. However, the opposite can hold true as well if assessments go down. This would mean that we would need a higher tax rate to achieve the same revenues. It is important to have an accurate reflection of the community’s real property value. How Often Does This Process Occur? In Ontario County, most municipalities reassess properties every three years. What Is The Process? In September of last year, the process started with the mailing of the property description reports which were filled out and returned back to the assessor’s office. Following that procedure, the assessor did drive-by inspections and photographed nearly every house in the City of Geneva. When the information and inventory was compiled, it was inputted into the Real Property Services (RPS) computer program, which is used to collect all the data of the property like land size, house size, and assessments. Currently, the assessor is performing a valuation on all of the properties. The three approaches to value are sales comparison approach, measuring your home against similar properties that have recently sold; income approach, identifying value based on your property’s personal revenue generation opportunities; and the cost approach, which takes into account how construction values affect price. What’s Next? The new assessments will be mailed out in early March. If your assessment didn’t change, then nothing will be mailed out to you. If you disagree with your assessment, then on Mondays and Tuesdays between 9 am and 4 pm, the assessor will be meeting with property owners for informal hearings. Please call ahead for an appointment. Things to bring during informal hearings are recent appraisal, sales in the neighborhood, photos of the house, and anything you feel that proves the value differs from the assessment. If there is still a variance in assessment perception, the next option is to go to the Board of Assessment Review which meets on the 3rd Tuesday in June. If residents have any more questions, they are welcome to contact the assessor’s office at 315-789-0091.

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