2009 property assessment challenge


In 2009, Rosendale assessed all real property at 100% of full value.  Many property assessments in the town increased by large percentages when compared to their 2008 assessment.  The Williams Lake property was among these.  The eight parcels of land, with the buildings upon them, were initially assessed at $7,654,900, an increase of 45% over the 2008 full-value assessment, in line with numerous other properties. 

In May of 2009, Hudson River Valley Resorts hired Hubbell Realty Services to challenge the assessment on four of the eight parcels, initally valued at $6,695,300.  Anita Peck, President of Binnewater Realty Corporation and Ulster County Construction Company, authorized HRVR project manager Tim Allred to seek a reduction in the assessments.  Hubbell found an alternate set of 'comparable' properties (many of which were outside of Ulster County) and asked for a reduction in the assessment to $2,650,000.  A compromise value of $4,534,000 was agreed to.  This produced an assessment on all eight properties of $5,493,600, an increase of 4% over the 2008 full-value assessment.

As a result of this challenge and revaluation, the taxes paid on the eight parcels for 2010 were $57,891 less than would have been paid on the original assessment.  To compensate, tax rates throughout the town were increased so that the affected taxing entities (Kingston and Rondout schools, Ulster County, Town of Rosendale, Bloomington Fire district, and the Rosendale library) still received the amounts that they were entitled to by law. 

The increased tax rates impacted every Rosendale taxpayer.  For example, the owner of a $200,000 property in the Roundout school district and Bloomington fire district paid $6.85 more than they would have if HRVR had not contested their assessment.  (See the math)  To a lesser extent, property owners throughout Ulster County and Kingston Consolidated School District were also affected.

Unless the HRVR property assessment changes upward in 2010, HRVR's savings, and the consequent increase in tax rates throughout the town, county, and school district, will continue into future years.

Last updated 6 Mar 2010.

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