Assessor

Assessment Information

Equalization Rate: 100%
Residential Ratio: 100%
Uniform Level of Assessment: 100%
Taxable Status Date: March 1
Valuation Date: July 1
Tentative Roll: May 1
Grievance Day: May 28, 2013
Final Roll: July 1
Last Revaluation: 2007
Number of Parcels in Municipality: 1432

The Town of Inlet’s Current Assessment Roll can be found here: Town Assessment Rolls for Hamilton County, New York

Exemptions

Veterans – The Assessor’s Office will accept applications for qualified residential property, owned and occupied by veterans who serviced during defined periods of war. Surviving spouses of a veteran may also be eligible to apply. This exemption applies to the town and county portion of the General Property Taxes. It does not affect school taxes or special district levies. The qualified residential parcel will receive a 15% reduction of its assessed value, and if combat duty can be documented, an additional 10% will be applied. If the veteran received a service-connected disability rating, one-half of the disability rating will be added to the exemption.

Basic STAR – The Basic STAR exemption is for all owner-occupied residents. This program is open to homeowners of all ages and income. The application must be completed and returned to the Assessor’s Office. Basic STAR applications do not need to be renewed.

Enhanced STAR – The Enhanced STAR exemption is for all owner occupied residents that are at least 65 years of age and the adjusted gross income of all owners is under $70,650, excluding income from IRA distributions. The application must be completed and returned to the Assessor’s office along with proof of age, residency and a copy of their 2006 federal income tax return.

New Options for Enhanced STAR – Income Verification Program – Property owners who are currently receiving the Enhanced STAR Exemption have the option of eliminating the annual renewal form requirement. Enclosed with all Enhanced STAR renewals there will be an application for the Income Verification Program (IVP). If a senior chooses this option, they will not have to annually renew their application or submit their income tax form.
The STAR Program & Forms

ALL APPLICATIONS MUST BE FILED ON OR BEFORE MARCH 1.

Responsibilities of Assessor’s Office

All property in the Town of Inlet is assessed at full value. To maintain fair equitable and uniform property values tha taccurately reflect changes in economic  conditions and real estate values, town-wide revaluations are conducted annually.

The Assessor’s office is responsible for assessing all town property and administering property tax  exemptions. Tax rolls are open for public inspection during weekday working hours. Tentative tax assessments can be provided prior to property purchases.

Assessors are interested only in fairly assessing property in their assessing unit. If your assessment appears to be in line, but your tax bill seems to high, the assessor cannot change that. Complaints to the assessor or the Board of Assessment Review must be about how the property is assessed. Complaints about high taxes should be addressed directly to the taxing jurisdictions such as the school district board, the county legislature or the town board, who set the tax rates. The Assessor does not set budgets or the tax rates resulting from the budgets.

FAQ’s

• Uniform Percentage of Value
The percentage of market value (full value) used by an assessing unit to establish uniform assessments. This value must appear on the tentative roll. Real Property Tax Law Section 305 specifies, “all real property in each assessing unit shall be assessed at a uniform percentage of value…”
• Taxable Status Date
The ownership and physical condition of real property as of this date are assessed (valued) according to price fixed as of the valuation date. All applications for property exemptions must be filed with the assessor by this date.
• Residential Assessment Ratio (RAR)
A percentage established by the State Board of Real Property Services according to law, using the ratio of assessed value to the sales price for each usable residential sale in a recent one-year period. Ratios are then listed from highest to lowest; the midpoint (median) ratio is selected as the RAR. The RAR can be used to prove that a residential property is assessed at a higher level than other homes on the assessment roll. Your locality’s RAR indicates at what percent of full value residential properties are assessed. For example, a RAR of 20 indicates that residential properties are assessed at approximately 20 percent of their full value.
• Equalization Rate
“State equalization rate” means the percentage of full value at which taxable real property in a county, city, town or village is assessed as determined by the state board.” (RPTL Section 102) The rate is a ratio of the sum of the locally determined assessed values for all taxable parcels for a given assessment roll divided by ORPS’s estimate of total full value for that same roll.

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