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Old 08-03-2015, 12:51 PM
 
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OK, so I'm not new to the fact that the taxes are high, so save it.

I would like to know about reassessments. Specifically, I am looking at some "fixer-uppers", would the property appraisers need to come back out after a renovation? If so, would that only be the case in certain types of renovations? How much do the rules vary by town, village, county, ect.? Where I hail from we only have the county to deal with, and this is the only place where I have ever been a homeowner.

What am I in for here?
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Old 08-03-2015, 01:39 PM
 
Location: Rochester NY (western NY)
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The town assessor typically only cares about the exterior condition. However, when the house is re-appraised and eventually sold, the town will eventually catch up to the sale price and adjust the assessment accordingly.
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Old 08-03-2015, 03:22 PM
 
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If there are building permits involved, the costs of renovation will be considered and there will be an interior inspection in order to get your Certificate of Occupancy.

If it's a fixer upper you still will probably be way below neighboring properties. The only problem comes when you try to sell and your asking price is way above assessment value.
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Old 08-04-2015, 08:25 AM
 
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Quote:
Originally Posted by JWRocks View Post
If there are building permits involved, the costs of renovation will be considered and there will be an interior inspection in order to get your Certificate of Occupancy.
I thought that was the role of the inspector?
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Old 08-04-2015, 06:54 PM
 
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Quote:
Originally Posted by apanda View Post
I thought that was the role of the inspector?
Isn't that what I said?:

"If there are building permits involved, the costs of renovation will be considered and there will be an interior inspection in order to get your Certificate of Occupancy."
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Old 08-05-2015, 07:33 AM
 
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Quote:
Originally Posted by JWRocks View Post
Isn't that what I said?:

"If there are building permits involved, the costs of renovation will be considered and there will be an interior inspection in order to get your Certificate of Occupancy."
Correct. But I am asking about the appraiser vs the inspector, unless that is the same person and I am misunderstanding.
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Old 08-05-2015, 03:51 PM
 
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Quote:
Originally Posted by apanda View Post
Correct. But I am asking about the appraiser vs the inspector, unless that is the same person and I am misunderstanding.
Appraiser--someone you hire to value your property, for instance if you are fighting a high assessment.
Banks also hire appraisers to value a house in contemplating a mortgage application.

Inspector--someone who inspects the quality of workmanship and whether the codes are being met.

Assessor--someone who works for the municipality to insure that all private property is valued and
taxed accurately.

They are never the same person.
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Old 08-05-2015, 03:58 PM
 
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Usually what happens is, you have a current value attached to your house. Add the value of the addition as stated on the building permit. now you have your new assessed value from which your tax liability is computed.

BTW, if you are doing the work yourself, you still must state the value as if you hired a contractor.
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Old 08-06-2015, 07:32 AM
 
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Thank you, that was very helpful!
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