HOOSICK FALLS, N.Y. (NEWS10) – A property reassessment was something the Town of Hoosick had been discussing since last year.
The supervisor says they have not done a reassessment in decades and it was not scheduled because of the contamination.
Homeowners say they definitely have questions about how it will impact this reassessment.
“Once it showed up on Monday it said you had two days to schedule a meeting and that’s pretty inconvenient,” Kevin Allard, resident in the Town of Hoosick, said.
Allard is referring to a letter sent out informing homeowners about a property reassessment for the town of Hoosick and the village of Hoosick Falls.
The letter informed residents that they must make an appointment for Thursday with GAR Associates about the reassessment.
“I believe it was Tuesday,” Chris Rowlands said. “I was not able to attend.”
So for those who could not attend like Rowlands and Allard many questions remain, like how will the PFOA water contamination impact assessment values?
“We have people in the town that have their POET systems, treatment systems, how are you going to differentiate and what value are you going to put on that versus a home that doesn’t?” Allard said.
Vice President of GAR Associates David Barnett said all they can do is look at sales that have transferred in a recent sale date range and that is going to be the greatest indication of what the effect is on property values.
Allard says he already has some indication of how some home values have dropped. He says before the PFOA water contamination was discovered he listed his father’s home in the village at $159,000, but last year after the contamination was known to the public the house sold for less.
“When we sold it last year it went for $119,000, so it was $40,000 less than what the home was originally valued at when it first went on the market.”
Barnett says GAR has to first collect data and next begin evaluations.
“Let’s be clear, this is not a science. Certainly, there are adjustments that are going to be made during a formal review process,” Barnett said.
Some residents who did not want to go on camera said they welcome the assessment and think it’s a good thing. GAR says they will begin the process next month.