In Part I of this series, we established a few metrics for distinguishing between reasonable revaluations from more serious tax assessment outrages in the City of Hudson by establishing a fair and objective baseline for comparison. Analysis of assessment data from 2009 and 2010 showed that:
- Citywide, the assessor has increased the value of all taxable properties by 29%.
- The average proposed increase this year in a taxable Hudson property’s value is $41,997.
- The median proposed increase this year in a taxable Hudson property’s value is $12,600.
Now let’s take a peek at some examples of people who came in far over those benchmarks:
EXAMPLES OF MAJOR INCREASES
- 78 Glenwood: +1,093%
This vacant lot owned Deborah Mann of New York City went from $3,000 to $35,800. Many other land values were radically increased in the past year (despite a general lack of vacant land sales in the City), but this one represents the highest single jump. - 249-251 Warren: +602%
Known as the “orange building,” this former apartment house was purchased approximately five years ago by Myron and Peggy Polenberg and turned into a loft-style single family residence. The assessment went up more than $1 million in a single year to a whopping $1,263,100—though no residential properties have sold for that much. - 317 Allen: +307%
Formerly an old-age home, this property at the corner of Allen and Willard Place was converted to a bed-and-breakfast several years ago by Dini Lamot and Windle Davis. The assessment increased by $904,700, from $295,000 to $1,199,700. - 55-61 Allen: +243%
This house has been owned by the Geer family for many years, and now has a tentative assessment of $480,900. Back in 1999, it was valued at just $68,000, a more than sixfold increase in the past decade. - 13-15 South 4th: +122%
Once the parsonage for the 1st Presbyterian Church, the Italianate house, garden and studio of Rudy Wurlitzer and Lynn Davis suddenly shot up after more than 20 years in residence to a $1,064,700, a $584,100 increase since 2009.
It should be again noted that these increases are not just steep in terms of the raw numbers, but in relation to the rest of the City. To have a property go up from 122%-1,093% at a time when Citywide values “only” went up 29% is difficult to justify, to say the least.
There is a big difference—in Hudson, at least—between a fair assessment and an accurate one. For one property’s assessment to be fair, the valuations of similar properties have to be accurate in the same way. Otherwise, the owner of a property assessed at “full market” value winds up paying the taxes of those valued at less than full value.
In Part III, we’ll turn to properties which actually received substantial decreases even as others are being raised astronomically. Part IV will examine how assessments have changed neighborhood-by-neighborhood and street-by-street.