New construction and higher values on some residential and commercial properties increased the tax base in Erie County’s largest town by more than $202 million.
Amherst now estimates its taxable assessed value at more than $8.58 billion. That’s up 2.4 percent from the town’s taxable value of $8.38 billion in 2013, said Supervisor Barry A. Weinstein.
Weinstein estimates about 80 percent of the growth is because of new construction placed on the tax rolls – which closed July 1 – while the rest is due to higher assessments on some residential and commercial properties that the town felt were underassessed.
“We try to maintain 100 percent of value, so we review the whole town and determine what’s out of sync this year, because the market has been so great,” said Amherst Assessor Ann Terranova.