How do the town assessors determine assessments?
The first step is to determine the market value of each property in the community. Market value is the price most people would pay for a property in its current condition. The town assessors maintain a detailed data base of land and improvements in the town. They periodically visit properties to check for any change that may affect the value of the property. Once the assessor estimates the market value of a property, its assessment is calculated. New York State law provides that all property within a municipality be assessed at a uniform percent of market value. In Gardiner, the level of assessment is intended to be 100 percent of market value based on 1997 market values. Everyone pays his or her fair share of taxes as long as every property in a locality is assessed at the same percent of value. Simply, the person who owns a property assessed at $500,000 will pay twice the town tax of a person who owns a property assessed at $250,000.
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