Thanks to the uncontrolled spending by the socialist team of Savage-Gillen-Stratton, the values of city homes has dropped beyond what anyone could ever imagine.  

And so, assessemnt grievance time is approaching.  Hopefully lady madonna will be gone fom the board (I can hear DV now, "no no she stays, she's the best)

Wonder if Stratton will publicize assessments on the city website instead of making people go down to city hall to stand for hours waiting to look through the assessemtn book.  I wonder if, on the website, if he will post not only the asssessments as they currently are, but ALSO the sale prices of the houses that have sold.

Oh Oh, city residents have A MAJOR PROBLEM!!!!!     Since NO ONE is buying houses in the city, there are no sale prices on which to base any assessment challenges.  And the mayor will probably say "housing values are not dropping."  (this is what DV would say).

Schenectady residents should start gearing up now.  Since no one is buying houses, residents need to start pouring through the real estate listings, the websites for the companies locally.  Watch them every week (I think they update on Wednesdays).  Look for houses in your neighborhood.  List the asking prices today, and next week and the next, etc.    And as asking prices drop that will be an indicator that there are no willing buyers for the price being asked which is proof that the house's value is too high (and therefore the assessment value is too high).  And contact the real estate agents to find out when the houses were originally listed and at what price.

Story in the TU today:    http://www.timesunion.com/living/article/Assessing-your-assessment-985542.php

Only problem is even with asssessment reduction, the tax BILL won't necessarily go down because the tax RATE will go up.  Why will the tax RATE go up?   Because the socialist team in Schenectady has to keep giving out your tax dollars to the wealthy political cronies

Lady Madonna is not going anywhere. The former Liberal Party "leader" is a clueless stooge for the whole horrible SOS/Landslide/Death Ray regime. Every property in the City is over assessed. And the DEM stooges made sure to give Solo Assessor Mastro a going away present as advised by the Clifton Park editors at the Gazetto.

     City Property values are in free fall because of Upstate's worst school system and continuous increases in City taxes/fees. Crisis what crisis? The DEMS will raise property taxes again. Mayor SOS is desperately trying to bail. The lack of leadership in the City is sickening. Sharon Jordan is finally bailing. No one left to hold the bag. Will Mayor SOS declare a snow emergency this week when the 2 foot blizzard hits?

FRONT PAGE TODAYS TU BUSINESS SECTION-Schenectady home values medians tank to a new low of $107,500. Troy is $30,000 higher. Cohoes is $60,000 higher. But they are not in Schenectady County supporting Metrograft and that buffoon at Proctor's.

     Add this to the top foreclosure County. Add this to the highest unemployment rate in the Capital District. And the State is investigating Fulton County for excessive pay for redevelopment "leaders"? Do you know the way to Schenectady? The Attorney General should open up a permanent office in this back water. Chicago East. New Orleans North. Camden North. This just in. Mercury Morris is about to announce plans for a nonprofit lunch counter in the Proctor's arcade. This will also be taxpayer supported. He still refuses to pay any fair share PILOT.

Quoted from benny salami

FRONT PAGE TODAYS TU BUSINESS SECTION-Schenectady home values medians tank to a new low of $107,500. Troy is $30,000 higher. Cohoes is $60,000 higher. But they are not in Schenectady County supporting Metrograft and that buffoon at Proctor's.

     Add this to the top foreclosure County. Add this to the highest unemployment rate in the Capital District. And the State is investigating Fulton County for excessive pay for redevelopment "leaders"? Do you know the way to Schenectady? The Attorney General should open up a permanent office in this back water. Chicago East. New Orleans North. Camden North. This just in. Mercury Morris is about to announce plans for a nonprofit lunch counter in the Proctor's arcade. This will also be taxpayer supported. He still refuses to pay any fair share PILOT.

This must be because of the DIVORCE rate!

They can't no longer expect the residents to shoulder almost the entire tax burden for the city. And the townfolks better let their officials know..........NO CONSOLIDATION!!!

The best the city residents can do is VOTE THE BUNCH OUT!! Perhaps the townfolks can help during election time, since the city officials are trying to grab the towns tax money now!!

It's because the churches refuse to pay the moron Mayor's "fair share" PILOT. ROTFLMAO!!

I scrolled up and down that list.  There was nothing lower than Schenectady (city)

Perhaps DV can enlighten us as to why the property values are plummeting in the miracle city, this city which is going through this marvelous renaissance and he says is greatly improved.

DV, why are the values plummeting in Schenectady?   Why does Schenectady have the highest taxes and lowest property values????????????

Why would ANYONE invest in the city when they stand to ONLY LOSE MONEY??????

Enlighten us

They stopped paying off Moodys.....

Quoted from mikechristine1

DV, why are the values plummeting in Schenectady?   Why does Schenectady have the highest taxes and lowest property values????????????Why would ANYONE invest in the city when they stand to ONLY LOSE MONEY??????

Enlighten us

Schenectady has the lowest resale value BECAUSE it has the highest property taxes. No one wants to pay more for taxes than their mortgage. On top of that you have to send your kids to Catholic schools. The worst government in Upstate. The worst schools in Upstate.

      This is official DEM policy. "DEMS understand the importance of high taxes"-actual quote. They refuse to cut bloated salaries nor make meaningful layoffs. They will raid reserves just like the City school bored. The same DEM morons destroying every public institution for crony capitalism.

Just checked out houses for sale in my area and houses that sold that are comparable to mine, my house is SO over assessed
http://www.trulia.com/for_sale.....LE-FAMILY_HOME_type/

Quoted from rpforpres

Just checked out houses for sale in my area and houses that sold that are comparable to mine, my house is SO over assessed
http://www.trulia.com/for_sale.....LE-FAMILY_HOME_type/

OMG!!! And what are the taxes on these homes?
EVERY SINGLE resident should march to the assessors office and grieve their taxes!!!! And call all the media outlets to report it!!

Bumble
Click on each home individually and scroll down, you will see what the houses are assessed at and lots more info. Now if I bring in info such as this and get another "insufficient data" response from Madonna and crew, like the majority of us got almost two years ago....... My uncle had his house appraised by a reputable appraiser and still got the insufficient data rubber stamp.

Who is in charge of the valuations?....the F'EN rating agencies....in a round about way....it's like a blender and while you and I are spinning in the middle
like rats in a cage...the gumba gangstas skim off the top and around the edges.....

Quoted from bumblethru

OMG!!! And what are the taxes on these homes?
EVERY SINGLE resident should march to the assessors office and grieve their taxes!!!! And call all the media outlets to report it!!

The problem is that if every resident won, say, a 50% reduction in the assessment value, then the tax RATE would double resulting in the same tax bill assuming no increase in spending.  But of course, this mayor just thinks it's fine to spend the taxpayer money.  

This mayor and his partners on the council, and Susie and Gillen have got to eliminate the tax exemptions for the millionaires downtown.  

Do you think any homeonwers could get a 100% tax exemption?   ROFL

IT WAS ALWAYS ABOUT THE TAX RATE AND LEVY......no one wants their home reassessed lower(that's just dumb)......IT'S THE GOVERNMENT, THE
RATINGS COMPANIES AND THE GANGSTA BANKS AND THE GANGSTA UNIONS.......

Quoted Text

CriticismSee also: Credit rating agency#Criticism
Credit rating agencies such as Moody's have been subject to criticism in the wake of large losses in the Asset backed security collateralized debt obligation (ABS CDO) market that occurred despite being assigned top ratings by the CRAs. For instance, losses on $340.7 million worth of ABS collateralized debt obligations (CDO) issued by Credit Suisse Group added up to about $125 million, despite being rated Aaa by Moody's.[5]

[edit] Power & influenceMoody's has been accused of "blackmail". In one example the German insurer Hannover Re was offered a "free rating" by Moody's. The insurer refused. Moody's continued with the "free ratings", but over time lowered its rating of the company. Still refusing Moody's services, Moody's lowered Hannover's debt to junk, and the company in a few hours lost $175 million in market value.[6]

"As the housing market collapsed in late 2007, Moody's Investors Service, whose investment ratings were widely trusted, responded by purging analysts and executives who warned of trouble and promoting those who helped **Wall Street plunge the country into its worst financial crisis since the Great Depression.** A McClatchy investigation has found that Moody's punished executives who questioned why the company was risking its reputation by putting its profits ahead of providing trustworthy ratings for investment offerings."[7]

[edit] Moody's ratings