AMHERST, N.Y. — Residents in the Town of Amherst and Village of Williamsville will soon receive in the mail their new full-value property assessment.
The town adopted a resolution in 2022 to update the assessments to 100% full market value. Town officials say current property assessments are only 62% of their market value.
In a release, they say for a property currently assessed at $300,000, the full market value is estimated at $438,000.
Town of Amherst Assessor Emily Murphy said in a release that no new taxes are raised due to an assessment equity improvement project.
“The project merely redistributes the tax burden. Budgets and levies are determined by towns, counties, schools, and villages. Property assessments are the mechanism to collect the budgets and levies,” Murphy said.
Town officials also say property exemptions will increase to their full amount. They cited an example that if a current Senior Enhanced Star Exemption is $60,250, after the update, the exemption should be about $95,000.
The town has put together a new property information database (PROS). You can find more information here: www.amherst.ny.us.
This news comes after the town raised taxes 11.4% last November.
Amherst Town Supervisor Brian Kulpa said in January the tax hike was needed to fund increases for employee salaries and benefits as well as various projects in the town, including the conversion of 9,000 street lights to LED's, the transformation of the former Westwood Country Club into a new town park and plans to transform Boulevard Mall into residences and community spaces.
RELATED VIDEO::
