By Robert Bell
On a sunny Wednesday afternoon, Miriam Cortez stood outside Rochester's City Hall, her forehead marked with a cross-shaped coating of ashes. But it wasn't just Ash Wednesday that had her feeling stressed; it was the preliminary property reassessments by the city government that had the senior citizen worried.
Cortez's concerns resonated with many homeowners in Rochester who were shocked by the steep hikes in their property values. The reassessments, conducted every four years since the 1980s, aim to capture the market activity and provide a fair evaluation of property values. However, this time, the numbers left many residents stunned. Residential properties saw an average increase of 68.4%, compared to a 19.3% rise in the previous reassessment in 2020.
The real estate market in Rochester has been on fire, consistently ranking among the nation's hottest markets. But it's not just a local phenomenon; it's a trend seen across the country. Since the onset of the pandemic, there has been a surge in property values, driven by factors such as historically low interest rates and the desire for more space during quarantine.
Since the onset of the pandemic, there has been a significant surge in the median price of homes sold by realtors in the Rochester area.
The news of the reassessments sparked immediate concern among city residents, with thousands of calls flooding into City Hall. In response, city council members penned a letter to Mayor Malik Evans, requesting a pause in the assessments for at least two years. They raised issues of transparency and fairness in the process, highlighting the potential impact on vulnerable demographics like seniors living on a fixed income.
Beverly Wood, a homeowner in Rochester, expressed her fear of the generational impact of these reassessments. "I want to leave something for my family. I can't do that if my house is gone," she said. Wood's sentiment reflects the worries of many homeowners who fear being priced out of their own homes.
However, city officials maintain that the reassessments are aimed at distributing the tax burden proportionately, not taking away people's homes. Mike Zazzara, the city assessor, reassured homeowners that an increase in assessments doesn't automatically translate to higher taxes. The change in taxes depends on how a property's assessment compares to the average increase. If it's higher, taxes will likely increase, and if it's lower, they will likely decrease.
Councilmember Kim Smith reached out to a city official in Buffalo, where similar reassessments had caused financial burdens for residents. She worries that Rochester could face a similar outcome, worsening the housing crisis and leading to homelessness if landlords raise rents in response to higher tax burdens.
Despite the outcry from residents and council members, Mayor Malik Evans emphasized that delaying the reassessment would have unintended consequences. He argued that an increase in property values does not automatically result in higher property taxes. Evans stated that ignoring current market values to delay the reassessment could negatively impact homeowners who would otherwise receive a tax decrease and shift the tax burden.
For the city of Rochester, the growth of the tax base is crucial. Finance director Kim Jones explained that a failure to grow the tax base could lead to negative ratings from credit agencies, affecting interest rates for taxpayers and the availability of funds for capital projects. Despite the public outrage and the fear felt by many residents, city officials view the 68.4% average increase as a win for the city's long-term financial stability.
"People are terrified," expressed Alexander Pheonix, a resident of the JOSANA neighborhood. The confusion and concern surrounding the reassessments have prompted councilmember Willie Lightfoot to encourage residents to make their voices heard during the upcoming speak-to-council session.
The issue of property reassessments in Rochester is complex and far-reaching, impacting homeowners' lives and the future of the city. While city officials argue for the necessity of these reassessments for a fair and equitable tax system, residents continue to grapple with the potential repercussions on their homes and their ability to maintain their quality of life.
Robert Bell is a multimedia journalist and reporter at The Democrat & Chronicle. He was born in Rochester, grew up in Philadelphia, and studied film in Los Angeles.
