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Assessor: Madrid's town equalization rate set at 100% by NYS
Summary
Assessor Kevin Finnegan read a June 10 letter from the New York State Department of Taxation confirming the town’s equalization rate is 100%, a factor that affects assessment comparisons and taxation calculations.
Assessor Kevin Finnegan informed the board that the New York State Department of Taxation has set Madrid's equalization rate at 100%, according to a letter he read into the record on June 10. The equalization rate is the State's measure for comparing assessed values across municipalities and can affect how tax levies and state aid formulas are applied.
The board had no additional action at the meeting beyond the announcement. No appeal or corrective action was stated in the record; the notation in the minutes simply records the assessor's read-in of the NYS determination.
