(From the 2007 Town Newsletter)

As you read this article, you have received your school tax bill for this year, or it has gone to your escrow company for payment. This bill reflects the STAR exemption, which you applied for this past year or years. If you are a new resident in town, or have never applied before, I would suggest that you get your application in now that you are thinking about it. I have the application forms in my office. Stop in and pick one up or give me a call and I will send you one. When a property with a residence sells, I am required to send an application form to the new owner.

If you have been receiving the Basic STAR exemption and one of the Owners reaches the age of 65, you are eligible for the Enhanced STAR exemption which gives you an additional amount off your school taxes. Contact me so we can get you signed up for that.

TOWN REVALUATION

At the present time, I am working on a town revaluation of all property that will be completed by March 1, 2008. The last revaluation was done in 2005 and my present schedule is to do one every three (3) years. The goal for the revaluation is to place a current market value on all properties.

For the past three years the real estate market in Ontario County has been rather aggressive, and that is also reflected in the sales of properties in the Town of Bristol. I have reviewed our sales and verified the values with the new property owners and these will be used as sales comps for other properties in town that have not sold. Each residential property will be valued based on a replacement cost and market value. Once I establish these two values, I will be viewing properties throughout the town to come up with a new assessment value. Not all properties will be adjusted the same. It depends on the present condition of the buildings, the age of the building(s), possible new construction, location of the property and several other factors.

Once the new assessment values are finalized, you will receive an "adjusted assessment notice" in the mail during the month of February 2008. For those property owners who have concerns and/or questions regarding their assessments, I will be scheduling times to meet with you at the Town Hall. You will be informed about this process when you receive your notice.