Note: This article is not meant as tax or legal advice and you should always check with your Accountant and/or Real Estate Attorney to verify your current tax options.

Our Board recently had a meeting with our tax assessor Al Garzi. He said that we would be reassessed every four years at 70% of market value.

It’s hard to say that The Town figures will be exactly the same as the figures the real estate community will use since it depends on supply and demand as well as updates etc.

The more updated a home is, the faster it will sell, and since everyone is very busy today with more two family careers, there is less time to tackle home remodeling projects.

If you were thinking of selling in the next year or so I would love to hear from you. Sometimes we can put buyers and sellers together if we know someone has plans to move, then you can save the hassle of being on the market for several weeks or maybe months.

Please remember that for all residents 65 or over, you should call the Town Hall to get your $787 tax credit. Also, for people with incomes not to exceed $55,000, you can defer up to 100% of your tax bill plus simple interest.

The mill rate will be going down consequently the taxes on personal property (cars) will be less. Al said that he expects that when the current evaluation is completed, the town’s Grand List of taxable property will have grown substantially from it’s current $2.75 billion to around $3.9 to $4 billion.

The revaluation is required by the state. The new values will be in place for the Oct. 1, 2002 assessment year, meaning it will not affect tax bills until July 1, 2003.