The Sweden Town Assessor has been contacted by the New York State Office of Real Property Services (NYS ORPS) to perform a 2022 assessment update of residential, commercial, and vacant properties in order to maintain an equalization rate of 100% and remain eligible for state aid.
Residential home sales continue to be remarkably strong. When Assessor Tammy Baker reviews Town of Sweden sales each week, she says she is astonished that homes are still selling for so much more than what she has them assessed. According to the notice Baker received, Sweden residential property is selling at 11% more than her assessment. Other westside assessors received the following information: Clarkson is also selling at 11% more than assessed, Chili, 12% more; Ogden 11% more; Hamlin, 11% more; Riga, 12% more; Henrietta, 13% more; Gates, 11% more; Greece, 13% more; and Parma, 11% more.
Commercial property in the Town of Sweden is selling at 2% more than assessed; vacant land at 6% more than assessed.
Many Sweden property owners, particularly residential properties, have been reassessed two or three times in the last few years. However, Sweden assessments continue to lag behind market value, according to NYS ORPS. NYS law requires properties to be assessed at market value. Some residents ask what will happen if sales prices drop? Historically, that has not happened in western New York. If it does happen in the Town of Sweden, Baker says she will address it at that time. In the meantime, change of assessment notices will be mailed April 1, 2022. Almost every property owner in the Town of Sweden will be receiving one.
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