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News of Otsego County

reval

Reval Notices Arrive In Cooperstown, But It Doesn’t You’re In For Tax Hike

Reval Notices Arrive In Cooperstown,

But It Doesn’t Mean Taxes Will Rise

By JIM KEVLIN • Special to www.allotsego.com

A lawsuit that resulted in a reduction in the Key Bank assessment by about one-third caused the 2007 reval to reduce downtown assessments generally.  Since, however, sales prices on downtown blocks are exceeding assessments, Mayor Katz said.
A lawsuit that resulted in a reduction in the Key Bank assessment by about one-third caused the 2007 reval to reduce downtown assessments generally. Since, however, sales prices on downtown blocks are exceeding assessments, Mayor Katz said.
Mayor Katz
Mayor Katz

COOPERSTOWN – If you own a downtown business or high-end mansion, your property taxes may be going up, but don’t jump to any premature conclusions, according to Mayor Jeff Katz.

Property owners in the Village of Cooperstown and Town of Otsego have begun receiving new assessment notices in their mailboxes in the past few days, the result of a joint village-town assessment underway over the past few months.

Some assessments are up, some are down and some are about the same, said Katz, but he cautioned property owners:  Whatever happens to your assessment, it may not reflect in the amount of taxes you pay.

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