In -coming from the tax reform
battle-front:
While I am gathering more data on the 16 billion stock transfer tax give -away by the state, here’s a letter that you can all relate to….
Friday, March 12, 2010If you are a Ticonderoga property owner … I urge you to read the FRONT PAGE article from TODAY’s Washington Post…. It concerns the bleak outlook that still remains for home prices all over the country.Here are my thoughts about the article:
We are all sorry about the national DECLINE in property values that have occurred over the last several years. Many of us have held out the hope that property values may have “bottomed out” and might soon go back up.
But — if you read this Washington Post article – it’s hard to believe that property values are not still falling – and may be for some time to come! It’s sad news, and it will hurt all of us! It comes on top of major declines in home values that have already occurred all over the United States. To reflect this decline, many communities have LOWERED their home assessments.How is it, then, that in Ticonderoga, our assessments are proposed to go UP an average of over 30% ??? Would these new values accurately reflect real selling prices in today’s depressed economy?
Sorry, but it just doesn’t seem to make COMMON SENSE!
Many of us feel that our property tax system is BROKEN. New York State has some of the highest property taxes in the country, often consuming 10, 15, 20% or more of a family’s gross income — all without regard to the family’s financial circumstances.
We desperately need state-wide property tax reform that will LIMIT a family’s property taxes based on individual household income! This would enable many NY families to continue to afford their homes when their income drops due to loss of a job, retirement, or illness. Such legislation is pending * [S4239A and A8702] and it would help renters as well as homeowners — but the NY legislature has yet to pass it.
In October 2005, the Ticonderoga Town Board issued a unanimous resolution asking the governor and legislature to pass earlier versions of this legislation. This was an excellent position taken by our board in support of the community.However, the Ticonderoga Town Board now seems to have abandoned the pledge it made in October 2005 NOT to do a Ticonderoga reassessment or revaluation until new legislation is passed.
To the best of my knowledge, no public hearing was ever held prior to making this decision (which was reportedly made in 2008), nor was any public statement issued by the Ticonderoga Town Board announcing it.
There are fairer ways to deal with Ticonderoga property tax problems than the proposed 2010 revaluation, coming - as it does - at this critical time of DROPPING home values!Please pass this article on to friends and neighbors concerned about our Ticonderoga property taxes.
Thanks.
- Rich Wray
Ticonderoga
RJWray@hotmail.com* If you support this pending legislation to reform property taxes, please let our state legislators know.
P.S. You are still welcome to visit the web site www.EyeOnTi.com, where you will find a copy of the October 2005 Ticonderoga Town Board resolution.
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