ASSESSOR GEORGE MADISON
518-696-3112 x6
Fiscal Year Start: January 01
Valuation Date: July 01 of previous year
Taxable Status: March 01
Tentative Roll: May 01
Grievance Day: 4th Tuesday in May
Final Roll July 01
TOWN OF HADLEY
PROPERTY ASSESSMENT
As part of the ongoing Annual Reassessment Program in the Town of Hadley, the Assessor’s office will be reviewing and analyzing the assessments of each property. According to the Real Property Tax Law. On or about March 01, impact statements will be mailed to all properties with assessment changes. All property assessments must be valued at the same uniform percentage. The Town of Hadley's assessments are at a uniform percentage of 90% of market value.
THE PROCESS
Beginning in May, property owners whose assessment has been challenged at the informal hearing will be receiving a change of assessment notice. The Tentative Assessment Roll will be filed on or before May 01th according to the law.
RESOURCES AVAILABLE
AFTER APRIL 01
1. Reports: Residential sales and property inventories will be published and available for inspection at the Assessor’s office.
2. Internet Access: The Tentative Assessment roll will be on the Internet on or before May 01th.
3. Your assessment should reflect the current market value for your property. To review your assessment, please follow the steps listed below:
§ Verify property information
§ Review inventory data on an individual property
§ Review current sales information
§ Analyze sales information about similar properties
In comparing similar sales it is important to remember that location, style, age and size are critical to the comparison process. For example: if you purchased your home for $200,000 on a particular street or neighborhood DO NOT look for homes that sell for $100,000 in other neighborhoods or compare a 5 year old house with a 50 year old house. BE REALISTIC AND HONEST.
INFORMAL REVIEW PROCESS
The Assessor's Office will continue to offer property owners an Informal Review Process through May 22nd if a physical inspection is required.
FORMAL REVIEW PROCESS
The Board of Assessment Review will meet on Tuesday, May 22th. If you feel your assessment is incorrect you must fill out the RP-24 Complaint on Real Property Assessment form and provide the Board of Review with information that supports your opinion of market value. Appointments will be taken when the paperwork is submitted.
THE GOAL OF THE ASSESSOR’S OFFICE IS TO DETERMINE THE FAIR AND EQUITABLE ASSESSMENT FOR YOUR
PROPERTY.
EQUALIZATION RATE
A weighted average ratio of the total assessed value in a municipality divided by the total market value. An equalization rate of 20% indicates that assessments were at an average of one-fifth of the market value when the equalization rate survey was made.
RESIDENTIAL SALES RATIO: Applies to 1,2 and 3 family homes, this ratio is what the property is assessed for divided
by the Market Value. Current residential sales ratio is 74% for the Town Hadley.
LEVEL OF ASSESSMENT: Is determined by the Assessor, it is the percentage of full market value of the Assessments.
The level of Assessment must appear on the Tax Bill. The current level of assessment for the
Town of Hadley is 90%.
ESTIMATED TAX
To determine the estimated taxes on a parcel multiply the assessment by the Tax Rate. You must also consider water and lighting districts.
TAX RATES
2007 Land,county,town & fire $8.44 per 1,000
2007 Water 1 (south Hadley) $1.57 per 1,000
2007 Water 2 (hadley) $2.09 per 1,000
2007 Lighting district $0.57 per 1,000
2006 Corinth School $15.30 per 1,000
2006 HLCS $ 9.84 per 1,000
EXAMPLE: Estimated tax on a 100,000.00 home
your assessment is $100,000.00 land and County $8.44
Water 1 $1.57
Corinth School $15.30
Total $25.31
100,000.00 divided by 1,000 = 100
100 x $25.31 = $2,531.00 estimated tax = $2,531.00
County Tax Rate - When it is used: County taxes are billed and payable in full every January.
How it is used : Used to levy county tax on each property within the Town of Hadley.
Town and Special
Districts: When it is used: Town and special district taxes are billed and payable in full every January.
How it is used: Used to levy the Town tax on each property within the Town of Hadley.
School Tax Rate - When it is used: School taxes are billed in September with no penalties. Paid after September and
penalties are applied. If not paid the school taxes are relivied on the January
Town and County bill.
How it is used: Used to levy school tax on each property within the Town of Hadley.
If you have any questions or comments, please call the Assessor's Office at
518-696-3112 X6.
