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Learn about why your taxes went up (or down) Nov. 2 and 12

karenb@lakevillejournal.com

CORNWALL — New property tax assessments have hit mailboxes.

With these new assessments, the town’s Grand List of all taxable property in the town will drop in the next fiscal year by about 15 percent. The fiscal year begins July 1.

A drop in the Grand List means many property values are dropping, some by as much as 40 percent. Some will rise. It’s all a manifestation of a fickle real estate market. Property sales are one key basis for determining value.

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