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New York State law requires assessments to be fair each year. To determine if your assessment is fair, you will first need to check the tentative assessment roll. The assessed value of your property, as well as the assessor's estimate of your market value, are listed on the tentative roll. In most cases, the market value should equal roughly the price for which you could sell your property. If you feel that you are overassessed, you should contact your assessor; you also have the right to administrative and judicial review.
You can learn more about determining the market value of a property. In regard to the assessment roll, the market value multiplied by the uniform percentage of value (which is also on the roll and sometimes known as the level of assessment) is the assessed value. In municipalities conducting reassessments, typically the assessed value and the market value on the roll will be the same.
In some municipalities, the uniform percentage (or level of assessment) will differ from the equalization rate determined by the State. You can find the equalization rate and uniform percentage online. If the equalization rate is different than the uniform percentage, you can calculate the assessor's estimate of your property's market value by dividing the assessed value by the equalization rate.
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