White Plains Property Values Up Sharply: Assessment Roll Climbs 1.7%,,,$277 Million to $281.6 Million. $5 Million Largest Increase in Assessed Value in 19 Years.

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WPCNR QUILL & EYESHADE. By John F. Bailey. March 6, 2017:

The White Plains 2017 Assessment Roll was released March 1 and the $4.7 Million increase in city assessed value is the largest increase in the roll in 19 years.

The $4,730, 371 increase was the largest single year increase since 2013-14 when the roll increased to $277,740,593.

The news is good news for the city and the White Plains City School District, both of whom have been severely hurt by the lacklustre assessment values since 2011-12 when the roll has drifted between $278,2 Million and $277 Million. The increase should enable the city to keep taxes even if not lower them, unless they accelerate expenses substantially, and will definitely help the school district.

The School District is now looking at a  $5 Million increase to a $214 Million budget, (From $208.7 Million) as presented in their first run through on the budget. The assessment windfall should enable the district to reduce the project $10 increase in the Tax Rate by at least $8 unless they decide to spend the windfall. The addition in assessments reduces the tax rate, unless they have already figured in the  new Assessment Roll figure.

 

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