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Tompkins County committee weighs Homestead option as assessment working group studies commercial valuation
Summary
County assessment staff and a working group updated the Government Operations Committee on differences between commercial and residential valuation, constraints in using multiple appraisal approaches, and the option of a Homestead tax mechanism to 'level out' year-to-year tax changes. No change was adopted; committee asked the working group to continue study and consult a state Office of Real Property Tax Services presenter in July.
The Tompkins County Government Operations Committee on June 9 heard a progress report from its assessment working group on how commercial and residential properties are valued and whether a Homestead tax option should be pursued.
‘‘Our office determines the market value of all properties within the county,’’ said the assessment office representative (Jay), explaining that while cost, income and sales-comparison approaches exist, each aims to reach market value and expanding the county’s database or staff to run multiple approaches would require additional budget and personnel. He said the county’s commercial properties measured at about 98% and residential at about 92% on the 2026 assessment roll.
Committee members described two recurring concerns: technical constraints in the assessor’s database and the political implications of shifting tax burdens. ‘‘I’m concerned when we say ‘level out’ because it sounds to me we’re just redistributing the residential tax burden on commercial properties,’’ said Leg. Greg Mezy, who urged caution about long-term economic effects and fairness.
Others argued the Homestead option could smooth abrupt year-to-year tax changes for homeowners without triggering a costly overhaul of valuation methods. The committee discussed whether reassessments should be annual, biennial or triennial once new software is in place.
Chair Randy Brown said the working group should continue the technical review and coordinate with county administration and the legislature before any policy move. The committee noted that Aaron Leash from the NYS Office of Real Property Tax Services is scheduled to present next month on Homestead options.
What happens next: the working group will continue exploring reassessment frequency and the Homestead tax option, report back after the NYS presentation in July, and bring any concrete staff or database requests to the legislature for consideration. No formal policy change was adopted at the June 9 meeting.
