revaluation

Pyramid, which owns Crossgates Mall, did not file any grievances this year. But Macy’s, which owns its store located in Crossgates, is arguing in court that its $16 million assessment should be reduced to no more than $5 million.

The town has sent each property owner in Guilderland five comparables that are closest overall to their property. But, said consultant Andrew Farbstein, who is working with the town assessor on the revaluation, “This doesn’t mean people can’t bring in other comps that they think are better. If we were sure that everything we were saying was right, why would be meeting with people?”

To guarantee that residents across New York are paying their fair share of taxes, the state needs a law with enforcement teeth to set a common requirement for full-value assessment.

A dramatic change in Guilderland’s equalization rate, set by the state, means Guilderland residents will pay more in county taxes and in school districts like Voorheesville’s. Also, the value of residents’ exemptions will drop.

Those who work most closely with property values in Guilderland say it would be cost-prohibitive to undergo a town-wide revaluation.

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