More talk on Potsdam assessments
We are going to talk about the Town of Potsdam preliminary assessed valuation of real property from the viewpoint of the owner occupant of a single-family house in the Village of Potsdam. The Town total valuation is up 13 percent. If your preliminary valuation is up 13 percent or less your taxes will not increase. Increases in your taxes may occur when the budgets are complete. If your preliminary valuation increase is over 13 percent, your taxes will increase. My assessed valuation increased from $100,000 to $157,00; a 57 percent increase; the first 13 percent ($13,000) is balanced by the overall increase town-wide. The remaining 44 percent ($44,000) will result in increased taxes. According to last year’s tax bills the tax rates for the, the Town of Potsdam, the school district, the Potsdam library and the village totaled 51.65, or $51.65 per $1,000 (assessed value). We will multiply my $44,000 increase by $51.65 and we discover that my taxes will increase by $2,272.60. The last tax bills totaled $3,306.59 (reflecting relevant exemptions) and so I am looking at a tax bill of $5,579.19 for next year, subject to any revisions by the assessor and the board of assessment review.