2022 ASSESSMENT CHANGES
A MESSAGE FROM MAYOR PAMELA D. PANZENBECK
Dear Glen Cove Taxpayer,
You recently received a letter from the City of Glen Cove regarding changes to your property’s assessment value. I am hoping to address any confusion you may have regarding this matter.
*** THIS CHANGE IN ASSESSMENT DOES NOT INCREASE YOUR TAX LIABILITY ***
YOU HAVE MY ASSURANCE THAT WE WILL WORK DILIGENTLY TO CRAFT A RESPONSIBLE BUDGET!
During the preparation of the City’s 2022 Assessment Roll it was determined that an adjustment to all residential properties was necessary for the City of Glen Cove to achieve a 100% full market value assessment in light of the increasing real estate market.
Assessments are based partly on property sales from the past year and, as we all know, home prices have increased dramatically. This explains why the assessed value of your home has increased.
As Assessed Values of taxable parcels increase, tax rates decrease. This is because the tax levy (the amount required to operate the City) is now distributed over a greater tax base. (These adjustments do not account for physical changes to your property.)
I hope this helps to clarify the reason for the increase in assessed values and if you have any questions, please contact our assessor at [email protected] or (516) 676-3564.