3577 Terrace Road
Cortland, NY 13045
607-756-6091






Town of Cortlandville - Equalization Rates

 

Why is equalization necessary?

Equalization is necessary in New York State because: (1) there is no fixed percentage at which property must be assessed; (2) not all municipalities assess property at the same percentage of market value; and (3) taxing jurisdictions, such as most school districts, do not share the same taxing boundaries as the cities and towns that are responsible for assessing properties.


What is an equalization rate?

At its simplest, an equalization rate is the state’s measure of a municipality’s level of assessment. This is the ratio of total assessed value to the municipality’s total market value.

Equalization rates do not indicate the degree of uniformity among assessments within a municipality.

 YEAR

 EQUALIZATION RATE

 LEVEL OF ASSESSMENT

 2005

 100.00%

 100.00%

 2004

 93.00%

 93.00%

 2003

 95.00%

 95.00%

 2002

 100.00%

 100.00%

 2001

 100.00%

 100.00%

 2000

 100.00%

 100.00%


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