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The second revaluation will seek to shore up the original findings and update market values village wide. It will develop a new model and give homeowners a clearer picture of property and home values.
The revaluation will be overseen by John Ryan, the same man hired to observe the first revaluation by Tyler Technologies two years ago, who will reprise his role. The near $250,000 process will be paid over three years in part with some of the funding that was saved in the initial $1 million revaluation.
Much like the original revaluation, village officials will start by evaluating new sales, current construction and new permits. With that information, there will be a market model developed using comparable sales in certain Scarsdale neighborhoods and each property will then be reviewed by a veteran appraiser.
Information collected will include square footage, building style, utility information, overall conditions and other information about various properties. That data will then be inputted into a computer program that will estimate the new value.
There will be a reviewing process and homeowners will have the opportunity to appeal.
The revaluation will redistribute the village property tax burden to more accurately reflect current property values. Some homeowners will see their taxes going up, others will drop and some will stay close to where they were originally.
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