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Twyndom Terrace
When Pigs Fly in New Hartford, N.Y.

Twyndom Terrace is also on the upper side of Oxford Road.  The report is a pdf document and will print on a 8 1/2 x 11 inch paper.  On the report, Year 2003 is highlighted in yellow because that is the year that the homes were in a Neighborhood Code (4807) that was reassessed.

Surprise! Surprise! Once again, another street, Twyndom Terrace, is just like Hughes Lane, Roman Road and  Tibbitts Road.   All but 2 and 4 Twyndom Terrace were in Neighborhood Code 4811 (Rural) until 2003.  In 2003, they moved the other 13 parcels into Neighborhood Code 4807 (Older Subdivisions)--that would be the year that Neighborhood 4807 was supposedly reassessed.  However, only 2 Twyndom Terrace (highlighted in gray on the spreadsheet) was reasssessed in 2003. There are 15 parcels on Twyndom Terrace, yet only one of them were reassessed in 2003.  In 2004, everyone was trended 5.5%.  Doesn't it seem odd that only 1 parcel increased in value in 2003, yet all of them increased 5.5% in 2004?  

Like the 43 parcels on Upper Tibbitts Road and 2 parcels on Sleepy Hollow Lane these 14 properties on Twyndom Terrace were merely trended in 2004 so percentage-wise the assessments were actually raised less than homes in Neighborhood Code 4817 (Starter Homes).   Neighborhood Code 4817 (Starter Homes) was trended 7.5% in 2004. 

So far, that makes a total of 78 homes on 5 streets in a very small area that have not been reassessed.  Why did they move them into Neighborhood Code 4807 in 2003 and then not reassess them?   Why were they ever in Neighborhood Code 4811 (Rural)?  Did you notice that the two parcels have a different tax map number (highlighted in green on the spreadsheet) than the rest of them.  Do you think that might be why there are two different Neighborhood Codes on Twyndom Terrace or do you believe that most of the homes are Neighborhood Code 4811 (rural) except for 2 that are Neighborhood Code 4807 (older subdivision)?   If you haven't read our report "The Rest of the Story" , you might want to do that now--it will help clarify the tax map number question.

Is it just a coincidence that most of the homes on the upper side of Oxford Road did not increase in value or is there something wrong in that part of town?   We live just below Oxford Road and we are in Neighborhood Code 4807 yet our assessment was increased 17% in 2003 and then trended another 5.5% in 2004.   Are there "pockets" of homes in New Hartford that just don't have any investment quality.  I could understand if one or two homes on a street don't increase because they are not well-maintained and in need of a great deal of repair, but 78 homes in close proximity to each other on 5 streets in a town where no one can argue that market values were rising in 2003 and 2004--just seems a little bit far fetched to me.  Don't people buy homes as investments?  Why would you buy a home that doesn't increase in value while everyone's home around you does?

Let me stress this again. The equalization rate is determined by the State using their estimation of the Total Assessed Value of the Town of New Hartford vs. the actual total assessed value of properties in the Town of New Hartford. Therefore, if there are a lot of under-assessed homes in New Hartford, the equalization rate takes a nosedive every time one of those homes sells for more than the assessed value.  Not to mention the fact that it just isn't fair to make some people have to grieve their assessment while others sit on there a$$, nor should anyone have to pay more than their fair share and clearly everyone should be paying their fair share.   Believe me everyone is affected by this type of "selective reassessing". 

Fair assessing in the Town of New Hartford?   You decide.

Take a look at our other spreadsheets (in pdf format--you will need 8.5 by 14 paper to print or you will have to piece smaller sheets together after printing) Paris Road, Higby Road, Jordan Road and Lloyds Lane.  More streets will be added.

Please keep watching this site if you want to know what really happened.  Email us New Hartford, N.Y. Online if you have any questions or better yet, check with the assessor to see if he agrees with our reports and then ask him "How Come?"

 

What is a Neighborhood Code?

The International Association of Assessing Officers (IAAO) defines a neighborhood as "(1) The environment of a subject property that has a direct and immediate effect on value.  (2)  A geographic area of properties sharing important location characteristics defined for purposes of market analysis or modeling (typically with fewer than several thousand properties)."  Notice both of these definitions revolve around the notion of effect of location on value.

In simpler terms, a "neighborhood" consists of properties that are comparable in terms of the probability of a buyer being equally as interested in buying House A as they would be in buying House B.  In other words, if I was a buyer, I would not be interested in looking at a house in a neighborhood code made up with homes that are 1,000 sq. ft. when I intend to buy a 5,000 sq. ft. home. Therefore, the 1,000 sq. ft. home should not be in the same neighborhood code as the 5,000 sq. ft. home.

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