Vestal residents unhappy about latest property assessments, fear higher taxes as a result
VESTAL (WBNG) -- Residents in the Town of Vestal are not happy with the latest round of property assessments. Since 2021, property values have increased between 25 to 30%.
According to CBS News, cities and counties typically reassess property values every year or two, although some regions have gaps of several years between reassessments. Meaning homeowners are just now seeing the latest real estate boom reflected in their tax bills. Yet, many in the Vestal feel the continuing increased values from assessments will make it difficult to pay their bills in the future.
“They’re scared, they’re scared their taxes are going to go up, it makes them not want to stay in the community,” said Vestal resident Scott Crowell. “It makes them afraid that with their small incomes, they’re going to end up losing their homes. You put that fear into people, that damages their lives, that damages their emotional well-being.”
Town of Vestal assessor Marc Minoia released a statement to 12 News regarding the issue.
“The towns have not set the market, we merely report on the residential activity,” said Minoia. “If anyone has a question regarding their assessment they can find information on the Town of Vestal website. If they wish to file for an assessment review they can obtain forms and instructions on that website.”
Minoia also told 12 News that residents can find those forms in his office at Vestal Town Hall. The deadline to file those assessment reviews is May 23.
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