Assessing the benefits of a property reval

It may not be something property owners relish, but assessments are important tools to ensure all property values are fair and equitable. In the town of Pine Plains, it’s also something that is sorely needed.

Pine Plains’ last revaluation was 22 years ago. Since then, the equalization rate has deteriorated to 44 percent. Yikes. That’s far from desirable and nowhere near healthy. The state aims for municipalities to maintain a 100 percent equalization rate. Let’s face it, Pine Plains has some work to do.

That’s why town Supervisor Gregg Pulver and the rest of the Town Board are now talking about having a townwide reassessment. As distasteful as that might sound to some, fear not, it’s actually a  good thing.

For one, it will bring all properties up to full market value. They will be uniformly assessed and meet the state’s standards, which insure fair taxing policies across the board. According to the Office of Real Property Services (ORPS), “when the level of assessment is not at 100 percent of full value, the administration of the property tax becomes less transparent … and it is much more difficult for property taxpayers to determine whether they are  being assessed equitably.â€�

There are also incentives for the town to bring values up to 100 percent. The state pays up to $5 per parcel to municipalities with a 100 percent equalization rate, and every little bit helps when added to municipal coffers.

The Pine Plains Town Board is in the early stages of the reval process right now, just on the cusp of preparing to send out RFPs (Requests for Proposals). Once it hears back from vendors, it will then pursue options that best fit the needs of the town. As is characteristic of this town’s leadership, it will likely keep the community involved in the process along the way. That should help keep the anxiety often associated with property reassessments at bay and ideally encourage public  participation instead. Though daunting, the end goal is worth it, and Pine Plains will be that much more appealing for having fair and just property values, just like the vast majority of towns in Dutchess County.

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