February 20, 2004

Real estate value issues

Tompkins County will consider ending annual assessment, after a number of years in which real estate prices and assessments have increased substantially. State aid supporting annual assessments may not come this year, and property-owners have been unhappy. On the other hand, as Legislator Kathy Luz-Herrera points out, if prices were to fall again, people could be stuck with inflated assessments for a while to come.

(In good news for the taxes related to those assessments, the Journal reports that county sales tax revenue for January is up 19%.)

The Journal's editorial continues with the theme of housing costs, examining yesterday's story on homelessness and also looking at ways municipalities can support affordable housing through zoning and other mechanisms.

Posted by simon at February 20, 2004 8:51 AM in , ,
Note on photos