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#1547797 --- 05/09/20 07:29 PM Re: Assessments up 13% in City of Geneva [Re: bluezone]
Tacitus Offline
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Registered: 03/23/15
Posts: 339
I completed my search before your useless commentary. I was hoping you could offer specifics, as promised, for others. No such luck, again.

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#1547812 --- 05/10/20 04:03 PM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
I completed my search


Splendid

How many comparables did you get?
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#1547871 --- 05/11/20 10:13 AM Re: Assessments up 13% in City of Geneva [Re: bluezone]
Tacitus Offline
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Registered: 03/23/15
Posts: 339
Plenty

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#1547883 --- 05/11/20 11:58 AM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
Plenty


Did the assessor accept all of them?
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#1547968 --- 05/12/20 04:55 AM Re: Assessments up 13% in City of Geneva [Re: bluezone]
Tacitus Offline
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Registered: 03/23/15
Posts: 339
The current assessor has very little sympathy for any argument, however cogent. I'm waiting for grievance day, and the appeals board: a group of fellow city residents who understand the difference between Geneva and Canandaigua (where the assessor lives).

Regarding realtor data: good place to start, but verify the values at the Ontario County Online Resources web site's property app, particularly the square feet, lot size and number of beds & baths. Realtors tend to be... optimistic in some of their data.

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#1548127 --- 05/14/20 07:08 AM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
The current assessor has very little sympathy for any argument, however cogent.


Was a detailed written statement provided by the assessor why your comparables were not acceptable?


Did the assessor show you the comparables that were used to value your property?
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#1548128 --- 05/14/20 07:13 AM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
Realtors tend to be... optimistic in some of their data.


The seller wants to get a higher sales price and the realtor wants a higher commission.

The market dictates the sales price under most circumstances.

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#1548210 --- 05/14/20 07:53 PM Re: Assessments up 13% in City of Geneva [Re: bluezone]
Tacitus Offline
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Registered: 03/23/15
Posts: 339
I don't think further discussion of my specifics are helpful. I know how to prepare my case.

Regarding realtors, they will tell any story to get you into the property and hope that emotion overrides your rational (market) thinking, just like anyone in sales.

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#1548223 --- 05/15/20 06:13 AM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
I don't think further discussion of my specifics are helpful.


Considering you have to appeal seems you lacked proper comparables

Originally Posted By: Tacitus
I know how to prepare my case.



Having an appraisal has more weight

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#1548224 --- 05/15/20 06:17 AM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
Regarding realtors, they will tell any story to get you into the property


They could be held legally/financially resonsible if they state false information

Best to get it in writing if they make a claim that sounds illogical

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#1548225 --- 05/15/20 06:23 AM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
And you better narrow it to "city of Geneva" since working at the county level will bring in Victor and you won't like those numbers.


Using numbers from Victor should bolster your case if used in the proper manner
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#1548251 --- 05/15/20 09:09 AM Re: Assessments up 13% in City of Geneva [Re: bluezone]
Tacitus Offline
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Registered: 03/23/15
Posts: 339
Exactly how would you use Victor numbers? The two municipalities are so strikingly different that there's no comparison. Maybe you can try to create a comparison of actual house prices, but how do you account for the differences in commuting distances, school systems, even proximity to landfills? It's hard to even compare city vs. town of Geneva.

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#1548312 --- 05/16/20 10:48 AM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
It's hard to even compare city vs. town of Geneva.


If you offered a comparable from the town of geneva was it reject?

What reason did the assessor give for the reject?

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#1548335 --- 05/16/20 03:11 PM Re: Assessments up 13% in City of Geneva [Re: bluezone]
Tacitus Offline
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Registered: 03/23/15
Posts: 339
I have not, and would not, offer a town property as a comparable. It's much better to use a city property for the reason that the assessor has just posted his own opinion of the selling price, the assessment, and he can hardly argue against his own work. It takes out the variables that need to be quantified, but can't: the obvious tax issue, but also the increased distances to services, a fire department with a core of paid professionals, police vs. sheriff, etc. [This is not a slam on volunteer firemen, or the sheriff, it's just some of the differences between City and Town.]

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#1548461 --- 05/18/20 07:19 AM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
It's much better to use a city property for the reason that the assessor has just posted his own opinion of the selling price


If he offered comparables question every aspect of them

Were the comparables all purchased by investors?

Have any of the comparables had any major renovations recently while yours has not?

Are there any negative aspects of neighboring properties that would lower your value that the assessor would not know about?

Any aspects that the assessor uses to raise your assessment you must point out the negatives


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#1548511 --- 05/18/20 04:29 PM Re: Assessments up 13% in City of Geneva [Re: bluezone]
Tacitus Offline
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Registered: 03/23/15
Posts: 339
You belabor the obvious, while perpetrating misleading guidance:

It doesn't matter if a property was purchased by investors (and how would you verify that?).

There is no way to track renovations in other properties without camping out in the Code office, currently under lockdown.

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#1548517 --- 05/18/20 04:39 PM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
It doesn't matter if a property was purchased by investors (and how would you verify that?).


Usually an investor puts ownership into an LLC Corp and they do not get the star rebate
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#1548519 --- 05/18/20 04:41 PM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
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Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
There is no way to track renovations in other properties without camping out in the Code office, currently under lockdown.


Email or call the code office

They are most accomoodating when one asks for information
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#1548524 --- 05/18/20 05:03 PM Re: Assessments up 13% in City of Geneva [Re: Tacitus]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 33447
Loc: USA
Originally Posted By: Tacitus
It doesn't matter if a property was purchased by investors


Are you suggesting an investor would not pay more for a home just to put 5 or more college students in it and charge each student $1000 or more per month?

One students monthly rent would pay for a $200,000 (30 year) mortgage payment with the current low mortgage interest rates

The remaining students monthly rent ($4,000) would largely be profit for the investor
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#1548549 --- 05/19/20 04:42 AM Re: Assessments up 13% in City of Geneva [Re: bluezone]
Tacitus Offline
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Registered: 03/23/15
Posts: 339
I'm saying that, as an assessment issue, who bought a property, and for what reason, is immaterial.

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