BUFFALO, N.Y. (WKBW) — So maybe taking out the trash isn't your favorite thing to do.
However, for homeowner Kenneth Leveritte, he finds a sense of pride in keeping and taking care of his home.
"So you're from Buffalo and you've lived here most of the time," 7 News Reporter Sydni Eure asked.
"Yup born and raised," Leveritte responded. "Retired correctional officer. 31 years that's it. Raised my two children here. We all understand that home ownership is the first step to really generational wealth in this country and that you're able to have that for yourself and for your family should bring you a source of pride," Leveritte said.
"I'm the first one in my family to actually own a home from a family of renters. So you know we own our home free and clear. So just take pride in what you have and what you work for."
While being a homeowner has brought many joys, when it comes to the process of reassessing property values in the city of Buffalo, people like Leveritte aren't so sure what to feel or what will really happen.
"The majority of my concerns about reassessment is that it's done fairly," Leveritte said.
The Department of Assessment and Taxation is holding a series of assessment equity project information meetings to help people grasp a better understanding of the process.
One of the information sessions was held Wednesday night in the Masten District. The district covers neighborhoods in the 14208,14209,14211,14214 and 14215 zip codes.
According to the Census Data, the average household income in the Masten District is just shy of $58,000 per year. That's higher than Buffalo's median household income which is just over $42,000.
However, over the last four years, since the last reassessment, home prices have shot up in the Masten District.
Right now, the average home value is about $180,000 up more than $50,000 since June 2019.
"So doing a reassessment project and updating assessments ensures that all properties are maintained or the assessment is maintained at an equal rate to market value so that everyone is paying their fair share of taxes," Robert Koszarek, President of KLW Municipal Inc, said.
Koszarek said a common misconception is assuming your taxes will automatically increase after a reassessment.
"Just because your assessment goes up doesn't equally mean that your taxes are going to increase," Koszarek said. "So if your assessed value goes up at a percentage that is not as high as the entire municipality your taxes would actually go down."
The 2025 Assessment Equity Project is currently in the data collection phase which means now is the time to make sure your property value information is correct. You can review and correct details to ensure an accurate assessment can be given.
You can find the full Assessment Equity Project presentation and reassessment schedule from Wednesday night's meeting here.
