The total taxable assessed value of all properties in the Town of Amherst grew by nearly 19 percent following a town-wide reassessment this year, officials said.
After exemptions of $2.94 billion are factored in, the combined value of the town's 44,000 properties grew by $1.66 billion, to $10.46 billion, said Town Assessor David Marrano. The tax rate property owners pay is determined by dividing the tax levy set by the Town Board or School Board by the total taxable assessed value.
Thirty-two percent of property owners can expect a decrease in their tax bill, while 36 percent will see little or no change and 32 percent can expect an increase, Marrano told the Town Board.
A reassessment does not raise more tax dollars but fairly distributes the tax levy based on the market value of properties, he said.