BUFFALO, N.Y. — The City of Buffalo says it mailed more than 17,000 notices to property owners whose assessments changed as part of its ongoing annual reassessment program aimed at keeping assessed values aligned with market conditions and preserving a 100% level of assessment.
The Department of Assessment and Taxation reviews sales-to-assessment ratios across all parcels, validates property sales and checks for physical changes to properties each year, adjusting assessments when necessary, the city said. Notices are sent only to property owners whose assessments changed.
The city said the annual process is required under New York State Real Property Tax Law and helps maintain an accurate and equitable assessment roll by identifying changes in property values more regularly than infrequent, citywide reassessment projects.
Buffalo’s current level of assessment is 100%, meaning assessed values reflect full market values as of the city’s valuation date of July 1, the city said. The department reviews every parcel’s inventory at least once every five years and analyzes neighborhood sales annually to update assessments.
Property owners who receive notices were advised to compare their preliminary assessments with their estimates of full market value and to review the resources included with the notice, including instructions for reviewing comparable sales and examples of documentation that may support a request for an informal review.
The city said property owners seeking an informal review can submit the Residential Informal Review Application by mail or in person to the Department of Assessment and Taxation, along with supporting documentation. Additional information is available on the City of Buffalo website.
City officials framed the annual reassessment approach as a way to spread reassessment costs over time, minimize sudden adjustments to tax bills and give property owners greater predictability.
