Assessments May Rise in the Town of Potsdam Again!

According to a Daily Courier-Observer article on Friday March 13, 2009, Potsdam Town Supervisor Marie Regan stated that Assessor Kim Bisonette will be looking at several properties this spring in the township and adjusting assessments accordingly.

The reason for rising assessments is the Town's equalization rate. Currently the Town's equalization rate is at 92%. The State recommends a rate between 95-100%. Further research shows that only 42% of the towns in New York state have a 100% equalization rate. Jane Powers, director of the St. Lawrence County Real Property Tax Office, said in the same article that the town is not obligated or mandated to bring the equalization rate up to 95% or better. Further more Ms. Powers said "They could just maintain the status quo for a year, it's up to them."

Why does the Town want a rate of 95% or better? The State pays the Town $5 per property if the Town has a rate of 95% or greater. This translates to an additional $25,000 for the Town. If your assessment increases from $50,000 to $51,000, your new TOWN tax bill based on the 2008 rate of 3.8 will be $1,938, an increase of $38.00. And remember, this does not include the increase in your school and county tax bills. We are better off sending the Town of Potsdam $5 and telling Marie Regan and the Board to STOP ASSESSING and REASSESSING properties in the Town.

How can you tell The Town of Potsdam to STOP assessments and lower the equalization rate? Join TOPTA today. Contact us for letters you can send to our Town and County officials. Together we will make a difference.