- Is your assessment fair?
- Understanding the difference between Assessments vs. Taxes
- Understanding the Equalization Rate
- How to Estimate the Market Value of Your Home
Parcel Count and Total AV
Assessments are based on . . .
- Neighborhood Code
(not necessarily on your street)
- Property Class
(210 = single family home, 220 = two family home)
- Building Style
(ranch, colonial, cape cod, raised ranch, etc)
- # of Bedrooms
- # of Bathrooms
(with a shower is considered a full bath)
(or a wood burning stove)
- Any additional structures on the property
(decks, sheds, barns, etc.)
- Land size and type
(wetlands, pasture, wooded, etc)
All this information is compared to homes that have sold in the Town of Newstead in a three year period. Adjustments are made to the selling price for any differences between the property being assessed and the ones which sold that are being used as a comparison.
Some sales are considered invalid if there was a special circumstance to the sale. Sales between relatives, estate sales, divorce settlements, bank foreclosures, etc. are not considered useable. The selling price of these sales does not reflect true market value.
It is important to keep the Assessment Department up to date with the inventory on your home. The assessment can only be as accurate as the information we have!