Homeowners See Assessment Spike in Greece

Homeowners See Assessment Spike in Greece

Some homeowners are prepared to appeal their new assessments.
Homeowners in the Town of Greece will start to see new tax assessments.

The town says 32,000 residential properties will get new assessments.

The process is required to happen every four years.

Some homeowners are prepared to fight what they say are incorrectly valued properties.

Karen and Art Reynolds are one couple that live on Manitou Road.

They say their new home's value jumped $7,500.

"You break it down, it ends up being enough a month to push our mortgage over $1100 a month. That's the problem. Is it Greece's problem, no. But it is something that coud eventually push us out of our home," said Reynolds.

They believe that the assessment is not taking into account the true value of the home, which has had little improvements over the years.

"We are still living with the exact same structure, the exact same everything. There haven't been any improvements, so where does the increase come from, it only comes from what is sold around us, not from our house itself," said Karen Reynolds, a homeowner.

Town Assessor Leo Carroll said the new assessments are based on 3,000 sales in 19 neighborhoods.

He would not say how many homeowners are seeing an increase.

Preliminary figures show that an extra $110 million in value was added, which is about 2-percent.

Karen Reynolds plans to fight the assessment.

Homeowners can begin the appeal process in December.

They must make an appointment before March in order to do that.
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