By LAUREN STANFORTH, Staff writer Last updated: 1:26 p.m., Tuesday, March 3, 2009
SCHENECTADY - More than half of city homeowners will see a tax decrease as a result of Schenectady's first property revaluation in about 15 years, according to numbers released by city officials today.
Schenectady Assessor Patrick Mastro said this morning that 55 percent of residential property owners will see some kind of tax decrease in 2010 because all property values were equalized as part of the revaluation, which took two years and focused on the city's 20,500 properties. Even more commercial owners will see a tax decrease — 57 percent of them.
Mastro said the results do not mean Schenectady property values are declining. He said the reassessment has simply brought all property owners in line with what they should have been paying for years.
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