Quoted from DemocraticVoiceOfReason

Mayor McCarthy and his team are doing a great job in the city.  

House sale prices through April is published.

Sale prices:

City of Albany sale prices first four months of 2013 is up 2.7% over the same period last year
City of Cohoes, up 7.8%
City of Troy, up 6.4%
City of Saratoga Springs, up WHOO WHOO!     UP UP UP a WHOPPING 18.9%!!!!!!!!!  
Clifton Park, up 6.4%
Guilderland, up 4.1%
Colonie, up  WHOO WHOO!!!!24.1%


And now, the City of Schenectady!


Drum roll please.


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Buh rum pum pum pum      It's Christmas in the city of Schenectady


Buh rum pum pum pum



City of Schenectady.   Sale prices DOWN by almost 2%




All around us the home values are INCREASING, but in Schenectady the home values are FALLING


Now, let's see if DV is MAN ENOUGH to explain why home values are FALLING while all around they are going up.

I think the cowardly cuckoo DV just had a stroke over this yet another piece of BAD news, FACT, TRUTH, provided WITH EVIDENCE.



Cowardly = fearful
Cuckoo = ignorant
Too fearful to admit being ignorant

It is interesting how the facts tend to coincide with what we've been saying based on our first-hand research and not with the bs coming from city hall.
Schenectady is doing so well that houses aren't worth anywhere near what they say they are. How "in the black" will they be when they have to reduce ridiculous assessments? Or will they just raise taxes to an even higher percentage of a house's value to make up for it?
On the brighter side, dropping prices may attract a few more adventurous homebuyers.

quote=800]Mayor McCarthy and his team are doing a great job in the city.  [/quote]


The ONLY place around with median sale prices LOWER THAN $100,000, and quite a bit lower at that!    And prices are FALLING


Great job?

Median sale prices all around us:

City of Albany                152,500
City of Cohoes                164,894
City of Saratoga Spgs       340,000
City of Troy                   140,950
Glenville                         184,500
Niskayuna                      229,000
Rotterdam                     150,201
No Colonie                     245,000
So Colonie                     179,000
Clifton Park                   274,000
East Greenbush             178,007
Guilderland                    243,000
Halfmoon                    331,268
Malta                           268,000
Bethlehem                    255,500

Even Schoharie County, so devastated in the hurricanes has houses selling at prices FAR ABOVE the city of Schenectady!!!!!


City of Schenectady       a PALTRY, MEASLY,  $89,00     AND FALLING!!!!!!!!!


Buy OUTSIDE of Schenectady and see your home appreciate in value with lower taxes than Schenectady
Buy IN Schenectady and see yourself underwater on your mortgage as your home value falls and your taxes rise

Just saw a medivac helicopter flying over, heading toward Albany.

Did the cowardly cuckoo get rushed to Albany Med after his eyes were opened once again?



Too fearful to admit ignorance.

Too ignorant to provide any EVIDENCE of the statements he makes

Look it's one day later after YET MORE BAD NEWS



Look, the cowardly cuckoo DV is STILL totally speechless.   DV not MAN ENOUGH to explain what HOW his dems in the city are doing a "good" job when the EVIDENCE yet again PROVES otherwise, i.e., the home sale prices falling again, hurting the homeowners, hurting the taxpayers.    Couldn't expect less from a mama's boy

By the way, the home sales and home sale prices in the DEM run Rotterdam as also down.

By the way, the home sales and the home sale prices in the DEM run Schenectady County are also DOWN, while every other county is seeing the sale prices going up.


Working together words - working together to cause home values to fall.   And according to the cuckoo (ignorant) DV, this is good; too cowardly (fearful) to admit that he is really only fanny kissing, that he is too cuckoo (ignorant) to explain the EVIDENCE (falling tax base, lower home sale prices, lower home sales, home values falling, taxes higher, etc) vs his statements that his dems are doing a good job.  He can sure copy and paste.

The city administration is in a real sticky situation.  The city obviously needs a city wide reassessment to correct the home values and stop the grievances however they did the previous reassessment to falsly prop up the total valuation above $2 billion so that they could tax us more.  A reassessment would definetly put them back below the $2 billion mark.  

all is great, really

Quoted from GrahamBonnet

all is great, really

I'll never understand how a taxpayer can be okay with the blatant lies told by McCheesy and crew! Come on, look at your tax bill! It's SOOOO not okay!!

But thanks Grammy, I'll start drinking early in the morning so I can find the greatness McCheesy claims....

chump.  

Quoted from TakingItBack

The city administration is in a real sticky situation.  The city obviously needs a city wide reassessment to correct the home values and stop the grievances however they did the previous reassessment to falsly prop up the total valuation above $2 billion so that they could tax us more.  A reassessment would definetly put them back below the $2 billion mark.  

Reassessing at higher assessment values doesn't mean collecting more taxes.  Reassessing lower can increase tax bills.

It has to do with the tax levy.   Here is real simple way to explain it (even the cowardly cuckoo should be able to understand this      )

Suppose the tax levy is $6,000.   The city needs to collect $6,000 through property taxes.

There is your house assessed for $1,000 and my house assessed for $1,000.   The total assessed value therefore is $2,000.
The math makes the rate $3.


So first year:

Your house             assessed   $1,000          x          Tax rate    3         =       Tax BILL           $3,0000
My   house             assessed   $1,000          x          Tax rate    3         =       Tax BILL           $3,0000

Add the two tax bills together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.



Second year.   I grieve my assessment.    City still needs to collect only $6,000 in property taxes (the tax levy).  
My house is reassessed down to $750.   Your house remains at $1,000 because  you chose not to grieve.

Now the total assessed value is at $1,750 (instead of $2,000 in first year).  Divide the levy by the total assessed value and the new RATE is 3.428571429.   Apply that rate to our assessments:

Your house             assessed   $1,000          x          Tax rate    3.428571429         =       Tax BILL        $3,428.57
My   house             assessed   $ 750          x          Tax rate    3.428571429         =       Tax BILL          $2,571.43

Add the two tax bills together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.



Third year.   The city does a reassessment   City still needs to collect only $6,000 in property taxes (the tax levy).  
My house is reassessed down to $600.   Your house is reassessed down to $600.   Notice, now we have the same assessed value again.

Now the total assessed value is at $1,200 (instead of $2,000  in first year or $1,750 in second year).  Divide the levy by the total assessed value and the new RATE is 5.   Apply that rate to our assessments:

Your house             assessed   $600          x          Tax rate    5        =       Tax BILL        $3,000
My   house             assessed   $600          x          Tax rate    5         =       Tax BILL       $3,000

Add the two tax bills together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.  

Notice, city reassessed downward, both our houses assessments went down.  But my tax BILL goes up, your tax BILL goes down.  




Now, remember what you said, above, " previous reassessment ... up the total valuation ... so that they could tax us more."


Go back to the first year above.   Start there.   The city decides to do a citywide reassessment.   Home values when up.   My assessment value is increased to $1,500.  Your house value is increased to $1,500.  

Now the total assessed value of the city is $3,000.   The tax levy is still $6,000.   Divide by levy by the total assessed value to get the tax RATE, the tax RATE is 2.    Now here is what happens:

Your house             assessed   $1,500          x          Tax rate    2         =       Tax BILL           $3,000
My   house             assessed   $1,500          x          Tax rate    2         =       Tax BILL           $3,000

Add the two tax bills together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.



So, the city doesn't try to "get more taxes" from us through a reassessment.    In these examples, the city still is collecting only $6,000 because that is what this city has determined needs to be the tax levy when they make their budget.

Those who grieve today successfully, will save in their tax BILLS today.   And they will continue to save for a FEW years, until such time as the city does a citywide reassessment, then those who grieved and won a reduction in assessment down MAY see an increase in their tax BILL after the complete citywide reassessment.  If they grieved an only got a small reduction they may not see the dramatic increase (like above).

The primary drivers that cause tax BILLS to go up are:
--  The city decides to spend too much, which, after all other sources of revenue, it needs to increase the tax LEVY
--   The city exempts millionaires from paying taxes because that money must still be collected and it will fall upon the rest of the people.


In the second bullet, think of it this way.   The tax LEVY is $6,000.  That is, the city must collect $6,000 from this imaginary city of two properties.

Your house is assessed $1,000 and Proctors is assessed at $5,000.  That would make the total assessed value to be $6,000.  Divide the levy of $6,000 by the total assessed value of $6,000 and the tax RATE then = 1.    Proper taxing would have the following:

Your house             assessed   $1,000          x          Tax rate    1         =       Tax BILL           $1,000
Proctors                 assessed   $5,000          x          Tax rate    1         =       Tax BILL           $5,000

Add the two tax bills together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.


HOWEVER, even though Proctors has received MILLIONS from the taxpayers through different accounts, and even though Proctors charges $50, $100, etc per show, and even though Proctors collects HUGE SUMS from the lavish banquets of the rich and famous at Key Hall, and even though Proctors collects rent from the sheet music store, and other places in there, the city decides to give Proctors a PERMANENT 100% assessment exemption.  

Now, your assessed value is $1,000 and while the assessed value of Proctors is $5,000, the TAXABLE Assessed Value is 0  (zero).   Your assessed value is equal to your TAXABLE Assessed Value because the dems in the city don't think you, as a financially struggling homeowner, should get a break on your taxes.   So now, the tax LEVY divided by the total TAXABLE Assessed Value of property   (6,000 divided by 1,000) = a tax RATE of 6.   Thus:

Your house             TAXABLE assessed value  $ 1,000          x          Tax rate    6         =       Tax BILL           $6,000
Proctors                 TAXABLE assessed value  $ 0                 x          Tax rate    6         =       Tax BILL           $ 0

Add the two tax BILLs together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.


When your taxes go up that much, your home value goes DOWN.  

PROOF POSITIVE that exempting Proctors (and other downtown properties) from taxes is NOT providing a return on the investment to the homeowners in the city.


Now let's see if the cowardly cuckoo DV is MAN ENOUGH to provide such detail to show that exempting downtown from taxes helps increase home values, increase the tax base, and lower taxes on THE HOMEOWNERS.

You might of misunderstood what I was saying.  From what I understand is that one of the main reason the city did the reassessment was becuase they had maxed out on the new york state constitutional debt limit and needed to get the overall city assessed value higher to raise the debt ceiling.  The accomplished this through bloated assessments and other methods such as assessing prior exempt propertys like churches etc.  

Quoted from mikechristine1

Reassessing at higher assessment values doesn't mean collecting more taxes.  Reassessing lower can increase tax bills.

It has to do with the tax levy.   Here is real simple way to explain it (even the cowardly cuckoo should be able to understand this      )

Suppose the tax levy is $6,000.   The city needs to collect $6,000 through property taxes.

There is your house assessed for $1,000 and my house assessed for $1,000.   The total assessed value therefore is $2,000.
The math makes the rate $3.


So first year:

Your house             assessed   $1,000          x          Tax rate    3         =       Tax BILL           $3,0000
My   house             assessed   $1,000          x          Tax rate    3         =       Tax BILL           $3,0000

Add the two tax bills together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.



Second year.   I grieve my assessment.    City still needs to collect only $6,000 in property taxes (the tax levy).  
My house is reassessed down to $750.   Your house remains at $1,000 because  you chose not to grieve.

Now the total assessed value is at $1,750 (instead of $2,000 in first year).  Divide the levy by the total assessed value and the new RATE is 3.428571429.   Apply that rate to our assessments:

Your house             assessed   $1,000          x          Tax rate    3.428571429         =       Tax BILL        $3,428.57
My   house             assessed   $ 750          x          Tax rate    3.428571429         =       Tax BILL          $2,571.43

Add the two tax bills together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.



Third year.   The city does a reassessment   City still needs to collect only $6,000 in property taxes (the tax levy).  
My house is reassessed down to $600.   Your house is reassessed down to $600.   Notice, now we have the same assessed value again.

Now the total assessed value is at $1,200 (instead of $2,000  in first year or $1,750 in second year).  Divide the levy by the total assessed value and the new RATE is 5.   Apply that rate to our assessments:

Your house             assessed   $600          x          Tax rate    5        =       Tax BILL        $3,000
My   house             assessed   $600          x          Tax rate    5         =       Tax BILL       $3,000

Add the two tax bills together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.  

Notice, city reassessed downward, both our houses assessments went down.  But my tax BILL goes up, your tax BILL goes down.  




Now, remember what you said, above, " previous reassessment ... up the total valuation ... so that they could tax us more."


Go back to the first year above.   Start there.   The city decides to do a citywide reassessment.   Home values when up.   My assessment value is increased to $1,500.  Your house value is increased to $1,500.  

Now the total assessed value of the city is $3,000.   The tax levy is still $6,000.   Divide by levy by the total assessed value to get the tax RATE, the tax RATE is 2.    Now here is what happens:

Your house             assessed   $1,500          x          Tax rate    2         =       Tax BILL           $3,000
My   house             assessed   $1,500          x          Tax rate    2         =       Tax BILL           $3,000

Add the two tax bills together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.



So, the city doesn't try to "get more taxes" from us through a reassessment.    In these examples, the city still is collecting only $6,000 because that is what this city has determined needs to be the tax levy when they make their budget.

Those who grieve today successfully, will save in their tax BILLS today.   And they will continue to save for a FEW years, until such time as the city does a citywide reassessment, then those who grieved and won a reduction in assessment down MAY see an increase in their tax BILL after the complete citywide reassessment.  If they grieved an only got a small reduction they may not see the dramatic increase (like above).

The primary drivers that cause tax BILLS to go up are:
--  The city decides to spend too much, which, after all other sources of revenue, it needs to increase the tax LEVY
--   The city exempts millionaires from paying taxes because that money must still be collected and it will fall upon the rest of the people.


In the second bullet, think of it this way.   The tax LEVY is $6,000.  That is, the city must collect $6,000 from this imaginary city of two properties.

Your house is assessed $1,000 and Proctors is assessed at $5,000.  That would make the total assessed value to be $6,000.  Divide the levy of $6,000 by the total assessed value of $6,000 and the tax RATE then = 1.    Proper taxing would have the following:

Your house             assessed   $1,000          x          Tax rate    1         =       Tax BILL           $1,000
Proctors                 assessed   $5,000          x          Tax rate    1         =       Tax BILL           $5,000

Add the two tax bills together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.


HOWEVER, even though Proctors has received MILLIONS from the taxpayers through different accounts, and even though Proctors charges $50, $100, etc per show, and even though Proctors collects HUGE SUMS from the lavish banquets of the rich and famous at Key Hall, and even though Proctors collects rent from the sheet music store, and other places in there, the city decides to give Proctors a PERMANENT 100% assessment exemption.  

Now, your assessed value is $1,000 and while the assessed value of Proctors is $5,000, the TAXABLE Assessed Value is 0  (zero).   Your assessed value is equal to your TAXABLE Assessed Value because the dems in the city don't think you, as a financially struggling homeowner, should get a break on your taxes.   So now, the tax LEVY divided by the total TAXABLE Assessed Value of property   (6,000 divided by 1,000) = a tax RATE of 6.   Thus:

Your house             TAXABLE assessed value  $ 1,000          x          Tax rate    6         =       Tax BILL           $6,000
Proctors                 TAXABLE assessed value  $ 0                 x          Tax rate    6         =       Tax BILL           $ 0

Add the two tax BILLs together and they total $6,000.   The city collects a total of $6,000 which is the tax levy.


When your taxes go up that much, your home value goes DOWN.  

PROOF POSITIVE that exempting Proctors (and other downtown properties) from taxes is NOT providing a return on the investment to the homeowners in the city.


Now let's see if the cowardly cuckoo DV is MAN ENOUGH to provide such detail to show that exempting downtown from taxes helps increase home values, increase the tax base, and lower taxes on THE HOMEOWNERS.

Quoted from TakingItBack

You might of misunderstood what I was saying.  From what I understand is that one of the main reason the city did the reassessment was becuase they had maxed out on the new york state constitutional debt limit and needed to get the overall city assessed value higher to raise the debt ceiling.  The accomplished this through bloated assessments and other methods such as assessing prior exempt propertys like churches etc.  

Exactly. This is why they can't lower anyone's assessed values.

Because then they would need a massive tax increase well above what the state allows, to cover their spending.

Quoted from Libertarian4life

Exactly. This is why they can't lower anyone's assessed values.

Because then they would need a massive tax increase well above what the state allows, to cover their spending.

No, LOL.   If assessed values went down, and IF the tax LEVY stayed the same (meaning the city would not collect anymore revenue through taxes after a reassessment than before), the result would be an increase in the tax RATE, each house would be affected in a different way (because some had sued the city and won while others did nothing), multiplying the new, lower assessment by the new tax RATE would mean some people would see increases in their tax BILL, others would see decreases in their tax BILL.


Am I overlooking something you are referencing?

Schenectady met its state munipicple debt limit and that is why they did a reassessment to artificially get up over the $2 billion amount so it could issue more debt.