Property Re-Assessment on the way in Waterford


Some growing stacks of coins with the word taxes on it

For the first time in more than 35 years, Waterford is planning a re-assessment of all properties. 

Although many fear a steep tax increase, officials say that's probably not the case.  The head of the company conducting the re-assessment tells the Times-Union that as homes are done, the property tax pot that the town can draw from gets bigger.  Because of that, he says the percentage that each property owner has to pay shrinks.  

In fact, he says about a third can look forward to a property tax cut, while another third won't see any change at all.

photo:  Getty Images

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