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01/10/2022 Assessment Community Weekly

Update to Solar and Wind Appraisal Model

We recently became aware of a computational error in the Solar and Wind Appraisal Model. The error resulted in an underestimation of energy output for solar plants that are 5,000 kW or less.

The model on our website has been updated to correct the error.

There have been no changes to any of the assumptions or any of the other calculations in the model.

2022 Agricultural Values

The 2022 Agricultural Assessment Values per Acre are now available from Agricultural assessment information.

We will let you know the RPSV4 update is available later this month.

Q and A: 467 and unemployment exclusion

Q. An applicant for the senior citizens exemption reported $20,040 in unemployment compensation on his federal income tax return. He also claimed an Unemployment Compensation Exclusion (UCE) in the amount of -$10,200, giving him a net taxable amount of $9,840. When determining his eligibility for the senior citizens exemption, should the entire $20,400 payment be treated as income, or just the net taxable amount of $9,840?

A. In our non-binding view, the entire $20,040 unemployment compensation payment should be treated as income when determining his eligibility for the senior citizens exemption. While it is true that the first $10,200 of unemployment compensation is to be excluded from income for 2020 federal income tax purposes, there is no such exclusion for purposes of the senior citizens exemption (or for 2020 NYS income tax purposes either, for that matter).

2021 legislative summary now available

The Summary of 2021 Real Property Tax Legislation is now available on our website.

In addition, for the historians among you, the legislative summaries and lists of property tax-related bills back to 1997 are archived online.

New Judicial case

We’ve added Bayview Loan Servicing, LLC v City of Middletown to New Judicial cases.