Value of all property in city nears $2B
Assessment total 6.4% higher than last year
The total value of property in the city is closing in on the $2 billion mark.
The recently completed tax toll for 2018 shows the total assessed value of property in Kingston is $1,987,114,474, up about 6.4 percent from last year’s $1,867,878,021, according to the city’s assessor, Daniel Baker.
The Assessor’s Office said the jump is largely attributable to rising value of commercial real estate.
“Over the past two valuation periods (July 2015 through June 2016, and July 2016 through June 2017), the city of Kingston’s commercial real estate market showed consistent positive growth when analyzing property sales compared to their assessments,” a statement from the office said. “This upward commercial value trend has been consis-
tent throughout the entire city of Kingston’s commercial market.”
“Values in portions of the residential real estate market
have also seen growth,” the statement said. “These positives residential values appeared in the Uptown, Stockade, Downtown and Hutton Park neighborhoods.”
The total assessed value of residential properties in Kingston rose from $1,000,178,850 in 2017 to
$1,031,925,850 in 2018, or 3.2 percent, the Assessor’s Office said. The total assessed value of commercial properties rose from $867,699,171 in 2017 to $955,188,624 in 2018, or 10.1 percent.
Assessed property values are used to calculate property
tax bills.
People who own property in the city are being notified about their 2018 assessments by mail.
Anyone who wants to challenge their assessment must complete the state Department of Taxation and Finance’s Form RP-524,
then file both the form and supporting documentation with the city by Grievance Day, which is May 22.
Completed forms can be brought or mailed to the Assessor’s Office at City Hall, 420 Broadway, Kingston, N.Y. 12401 prior to May 22, or delivered to the Board
of Assessment Review on May 22 — between 3 and 5 p.m. or 7 and p.m. — in the Common Council chamber at City Hall.
The Board of Assessment Review will only consider property assessment challenges that are on the RP524 form.