ONCE AGAIN, the EVIDENCE proves MASSIVELY FALLING property values under the city/co/plex policies of wild uncontrolled spending on downtown.



But this is not a big commercial property.

At 100% market value assessment it was assessed for $488,000 by the city in 2011 -- the city claimed it had a market value, it was worth $488,000 in 2001, however it had been listed for sale in 2010 for just $409,000 and no willing buyers at that price, thus THE EVIDENCE PROVES it was NOT worth $88,000 as the city claimed it was.  So much for the dem mayors having qualified and knowledgeable employees.

The owners grieved in 2010 but the city's unqualified assessment dept employees and the unqualified political cronies on the board of assessment denied a reduction, insisting it was worth, i.e., would sell for, $488,000.  Yet the owners had it listed for sale for only $409,000 and there were no willing buyers.

It is unknown if the owners filed grievances every year, or just filed a certiorari in 2010 and pressed on with that suit.  

In summer 2012 the owners reduced their asking price to $375,000 and after no willing buyers at that price (EVIDENCE PROVING it was NOT worth $375,000) in Feb 2013 they lowered the asking price to $359,000.  

In 2013 owners grieve to the board of assessment and McCarthy's unqualified political cronies on the board of assessment claimed that it was worth $375,000 (and reduced the assessment accordingly based on the then equalization rate) despite the fact that the EVIDENCE proved it was not worth that much because there were no wiling buyers.

This week the certiorari lawsuit against the city reached the council.  The EVIDENCE has proven MASSIVE REDUCTION in value under McCarthy as mayor.  

Look at this


Year                    Assessment was                       Retroactive reduction received through certiorari

2010                      $488,400                                                            $400,000

2011                      $488,400                                                            $375,000

2012                      $488,400                                                            $375,000

2013                      $405,000                                                            $405,000

2014                      $405,000                                                            $359,000


I'm puzzled though at the assessment for 2013, I'm wondering if the incompetent city clerk (who couldn't do his job and post meeting minutes for some 10 months) made a typo and didn't lower it in the legislation or if the owner just accepted that higher amount for that year which would seem odd.

They will be getting a nice refund from the city due to the unqualified assessment dept and unqualified board of assessment members

But think, these owners have some wealth and can afford an attorney.  Most homeowners in the city cannot and then are forced to suffer with paying higher than their full share of taxes.

where is this property?
did I miss it?

Quoted from bumblethru

where is this property?
did I miss it?

Nah, you didn't miss it.  My bad, forgot to include the address.

Gee, I think this may have even been in the "House of the Week" in the TU a few years ago, anyone remember for sure  

What is the address?

Ahem, M/C...

Wonder if it's in the GE plot?

Quoted from TakingItBack

What is the address?

Oh my bad again.  Before I have another senior moment which both of us is too young for, 1100 Nott St.

Yes, GE Plot

http://blog.timesunion.com/realestate/house-of-the-week-victorian-in-schenectady/12229/

Stealing the value through excessive taxation.

Was fun to see and read dvor posting. The usual misguided musings of the party line.

WOW!!! the cost is over kill for the CITY OF SCHENECTADY!

I mean...who would buy it? Clearly  not a middle class family with kids.

Doctors, lawyers, engineers, professors...blah blah blah....they won't/don't live in the CITY OF SCHENECTADY.

they live in Clifton park, Saratoga, Loudonville, Guilderland.....etc.......NOT THE CITY OF SCHENECTADY!!

The assessment reduction seems more than fair.  They have had the house for sale at $329,000 since October 2014.  

It's fair, it goes to show how homeowners have to fight, while millionaires have these things handed to them, and people who don't understand yet what is happening are being taken advantage of.
It proves what M/C keeps saying. The sky IS falling.

Quoted from TakingItBack

The assessment reduction seems more than fair.  They have had the house for sale at $329,000 since October 2014.  

Absolutely the reduction is fair.

Yes, proves that all this spending on downtown is NOT causing an expansion of the tax base--as DV claims it will-- but rather it is just continuing to result in annual decreases in the tax based, property values to fall, more assessment grievances, etc.

But everyone does notice how DV will not respond and address the statements he has made, claims the more work downtown, the tax base will expand, but 10 years under dem party rule, lots of spending on downtown, and the tax base falls each and every year, DV even avoids posting his customary yawn when the truth (proving him wrong) is put in front of him.

More rotting houses.

Quoted from Dirt2

Was fun to see and read dvor posting. The usual misguided musings of the party line.

"Party line" has nothing to do with it.  You don't even know what party I belong - you think you do - but you don't.  The only things that are misguided are the illogical rants of nayboobs who speak out of both sides of their mouths - claiming that an assessment reduction was granted due to "incompetence" yet admitting that the property value had indeed gone down.