Townwide Assessment

I have seen a lot of discussion online regarding the planned Greenburgh reassessment of properties. While I understand the concern, there is A LOT of incorrect information out there. A reassessment does not increase the amount of taxes the town collects. Some people may pay more, and some people will pay less and some people the same. Any person who has a $1.00 increase in their Town taxes, will be offset somewhere else by a $1.00 decrease.

Just because your assessment increases, that does not mean necessarily your Town taxes will increase. In a very simple example of 2 homes each worth $100k, if home a increases by 5% to $105k and home b increases by 10% to $110k, absent a tax increase completely independent of reassessment, home a will actually see a tax decrease despite a higher assessment. This is because their share of property values in the taxing district has decreased from 50% to 48.8%. If the town budget calls for raising $10 in property taxes, house a will go from paying $5.00 to $4.88 and house b will go from paying $5.00, to $5.12.

More details and examples here- https://www.ericzinger.com/assessments