All systems are go for the City of Lockport’s first citywide property revaluation since 2011.
The Common Council voted 4-2 Wednesday to keep the program going, defeating a resolution that would have suspended it until next year.
Assessor Tracy A. Farrell warned the Council that the city would have to pay its appraisal firm, GAR Associates, $200,000 to appraise the city’s 8,200 properties again next year.
In the meantime, she said, the city’s total assessment would drop from the current 67% of true market value to 55%, as estimated by a state agency.
In December 2019, the Council voted to pay GAR $400,000 for a two-year appraisal process.
Alderman Mark S. Devine, R-3rd Ward, introduced the resolution to suspend the revaluation, but his only support came from Council President Paul M. Beakman Jr., D-1st Ward.
Lockport residents have until April 1 to submit assessment challenges. If they are dissatisfied with the results of those reviews, they can go before the city’s five-member Board of Assessment Review on May 24.
Published by The Buffalo News