Jamestown City Council
The Jamestown City Council Finance Committee has approved two resolutions related to doing a revaluation of city properties to go forward.
Finance Chair and Council Member at Large Kim Ecklund said if the City put off doing the revaluation until 2023, it’ll cost the city an additional $400,000.
City Assessor Lisa Volpe explained, “Because New York State only allows you to use data for six years, and since it’s been 15, they were willing to let it go this year but next year they’re going to want an entire project. And the previous project cost $1 million, but they’re [GAR Associates] able to get it down because New York is acknowledging what they now have.”
The proposed current cost for the City to do a revaluation is $285,000. It would be paid for using American Rescue Plan funds.
Volpe added that 40% of industrial properties have already had their property assessments reduced through the grievance procedure, with several now on the market for more than assessed value.
The resolutions must still be approved by the full City Council at its voting session on February 28, 2022.
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