Disclaimer: The information contained herein is furnished as a public service by the Town of Vernon. The Town of Vernon does not warrant, express or implied, the accuracy, completeness, or reliability of this information. The user of the information assumes all risk of reliance thereon, and further, assumes all responsibility for his or her use, or misuse, of the information.
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Do you know what your Property Tax Bill is telling you? The Property Taxpayer's Bill of Rights was designed to help you better understand the information contained on all your property tax bills.
Real Property Tax Cycle and Definition of Terms - This identifies and explains important events in the Annual Real Property Assessment Tax Cycle. Specific dates vary by locality. Contact your assessor for the exact dates that apply to your property.
Exemptions - Forms and Instructions that are helpfull to determine eligability and requirements.
How to Contest Your Assessment - Process for Real Property assessment appeal.
Assessment vs Taxes - What is the difference?
Property Tax Bills- Do you know what your bill is telling you?
Tentative Assessment Roll - A Closer Look At Tentative Assessment Roll.
Common Terms and Statistics used in the Real Property Assessment Process
Equalization Rate - An equalization rate is NYS's measure of a municipality’s level of assessment. This is the ratio of total assessed value (av) to the municipality’s total market value (mv) or av/mv. The municipality determines the av and the mv is estimated by the NYS. An equalization rate of 100 means that the municipality is assessing property at 100 percent of market value. An equalization rate of less than 100 means that the municipality’s total market value is greater than its assessed value. An equalization rate of greater than 100 means that the total assessed value for the municipality is greater than its total market value. Town of Vernon 2014 Equilization Rate: 75.0%.
Residential Assessment Ratio - The ration of a residential property assessed value (av) and selling price (sp) at time of sale or av/sp. A ratio of 1.00 means that property is selling for the assessed value. A ratio of less than 1.00 means property is selling for more than it is assessed for and a ration of greater than 1.00 means that property is selling for less than assessed value. Town of Vernon 2015 Residential Assessment Ratio: 65.43%.
Level of Assessment Ratio - The level of assessment (loa) is simply the percentage of market value at which properties are assessed within a community. For instance, an loa of 50% would indicate that assessments are at half of the market value; an loa of 100% represents a community that is assessing at full value. Town of Vernon 2015 Level Of Assessment Ratio: 71.50%.
Glossary - Helpful terms used in NYS Real Property System.
Contact - Assessment Data corrections regarding inventory or suggestions for improvement