Rye Brook, Port Chester and Rye Neck Homeowners and Commercial Property Owners will soon be receiving a mailer from the Town of Rye in connection with the Town’s recently announced Town wide reassessment (also known as a “reval” or revaluation). This initiative will culminate in new assessments for all properties for the 2020 Town assessment roll, which will affect 2021 property taxes.
Reassessment is the process of appraising all real estate in a municipality according to its full market value to ensure that property owners pay their fair share of taxes. The process is revenue neutral, meaning the purpose is not to increase the total amount of property taxes the Town receives. The purpose of the reassessment is to keep the assessed value of all properties within the Town to 100% of market value and to ensure property assessments are fair and equitable.
Read more at PortChesterNY.com