What is “Assessed Value?”

Lance Evans

By: Lance Evans

The word “assessment” is defined as “the evaluation or estimation of the nature, quality, or ability of someone or something.”  In real estate, the terms “assessment” and “assessed value” are used frequently and are interchangeable.  

                Frequently people ask why a property is on the market for more than the assessment and if, after the property sells, the assessment will be adjusted to reflect the purchase price.

                I  spoke recently with Brian Phelps, the city of Watertown’s assessor for the past eleven years. We talked about his experience, what an assessor is, and what his or her job is. 

                Assessors are certified by the New York State Department of Taxation and Finance. They need to take a basic certification class and then need to take continuing education periodically.

                Mr. Phelps, who has 20 years of experience as an assessor, began his career as one of three elected assessors in the town of Champion. At one point, prior to being hired by the city, he was employed by three different towns in three different counties. This allowed him to see different systems and ways of doing his job along with a wide variety of properties and economic factors.

                Assessments are, at their core, opinions of value. They differ from an appraisal, which looks at an individual property. The assessor looks at the properties as a whole. His/her estimate of the value of real property is converted into an assessment and is one component in the computation of real property tax bills.

                While properties are treated similarly, assessments allow for differences like square footage, lot size, and features like a pool, porch, deck, etc. They also take into account the general condition and upkeep a property has. Variations like a big upgrade or a decline in maintenance can affect the assessment. An assessor  has access to building permits and he evaluates these based on how they impact the quality and condition of the property.

                His job is to “hit the value” with his assessment. Since he has access to property sales, I asked him what happens when a property sells. Does that automatically mean a change in the assessment? His answer was no.

                Before going further, it is important to note that the city of Watertown assessments reflect 92 percent of a property’s value. This means that if a property is assessed at $92,000 and sells for $100,000, the assessment was right on target. 

                When there is a large variance (higher or lower) in the price versus the assessed value, it could trigger a review of the assessment. Mr. Phelps pointed out that what usually has happened is that what was sold is not what was valued in the assessment. There are times when a buyer pays more than a property would normally be valued.

                For instance, in a “hot” market where properties are selling very fast and have multiple offers, the price paid can easily be much higher than the assessment. Similarly, if an area has suddenly experienced a quick drop in market value, properties can sell well below assessment.

                Either way, the assessor looks at the reasons surrounding the difference between the assessed value and the actual sale price and may adjust it accordingly. Mr. Phelps looks at the property as it was valued and what actually sold.

                Outside of a city-wide revaluation, the main way an assessment changes is a physical change to the property like an addition, something that markedly improves the value, or something that causes a dramatic drop in value. 

                Earlier, I noted that the assessment is only one component of how the real property tax bill is calculated. The other portion is the tax levy that the municipality, county Legislature, and local school district set as the amount that needs to be collected. The levy is the amount of money needed to fund government operations after accounting for state aid, sales tax and other income sources.

                According to Mr. Phelps, the total value of property in Watertown is roughly one billion dollars. If the City Council determines that the amount needed from property tax is ten million dollars, then the City’s portion of the property tax will be $10 per thousand dollars of assessed valuation. In the earlier example of a property assessed at $92,000, then the bill would be $92.

                Next month, I will be looking at how appraisals work and how they differ from assessments and how they can help determine the market price for a property.

ESPRI Taking Shape in Helping Reduce Area Poverty

Eric J. Hesse, right, New York State Division of Veterans Affairs director, earlier this year met with community advocates during a training session for the Watertown Empire State Poverty Reduction Initiative. Hesse, a retired colonel who spent 10 of his 26 years in the military at Fort Drum, outlined the state’s role in helping the local ESPRI effort. Meeting with him were task force chairs, left to right, Kevin Hill, Workforce Development, Krystin LaBarge, Education, Carolyn Mantle, Education vice chair, John Bonventre, Transportation, and Angie King, Housing.

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Seek Online Reviews…the best thing you can do for your business this season

Brooke Rouse

Many businesses are cautious to encourage customers to leave reviews. Our hope is that every business is doing their very best to serve the customer, so that the potential of negative reviews won’t be an issue. There are always people who will find a reason to complain; however, a majority of people who go online to place a review do so because they are pleased with the experience.

    Online reviews can help increase your exposure on the internet, for no cost. There are several sites that are used nationwide when people travel, move to a new place or seek out a new product or service.  If you do not exist online, the customer may never find you. Some of the most popular review and search sites are Google, Facebook, Tripadvisor and Yelp.

    The first step is to type your business into your computer browser. See what comes up. There may be several places where your business is listed and may already have reviews that you did not know about. Take the time to click the link. Nearly every site soliciting reviews for businesses will have a tab to ‘claim your business’ or a place where it asks ‘is this your business?’. Click there and proceed with the steps. You will verify your business information and be able to provide additional information: keywords, website, hours, photos, descriptions, etc. Take the time to make a folder on your desktop with all of this information so that you can quickly upload it and copy and paste it to several sites. They all ask for the same information.

    Claiming your listing and enhancing it with information and photos will help more people find you and be attracted to your business. It will also encourage your customers to post a review because they know you have taken the time to present the business in a professional way. Note that all of these sites will offer you the opportunity to upgrade, for a fee. This is always optional and you can consider the benefits as part of your marketing plan.

    Review sites are applicable to every type of business. Tripadvisor is extremely popular with travelers or people in a new place and includes restaurants, attractions, tours, community features, transportation, museums, etc. All of the other sites are comprehensive and host review pages for all categories of business: hardware, landscaping, home repair, child care, mechanics, hair dressers and on and on.  Start with the popular sites mentioned above. Be aware that they also each have a verification process to ensure the listing is connected to a physical address. These are all map-based websites and mobile applications; therefore, the physical address is the most important. Pay attention to that process and be sure to complete all steps.

                Once your listings are updated, you can encourage customers to post reviews…throw a little card in your bag or with the receipt when you know you have a satisfied customer. Provide them with the sites and thank them for their business. People love being a part of small business success! And if there are businesses you love, be sure to get online and give them a 5-star rating.

BROOKE ROUSE is executive director of the St. Lawrence County Chamber of Commerce and Tourism Promotion Agent. She is a business owner, holds a master’s degree in tourism and is a former SUNY Canton Small Business Development Center Advisor. Contact her at brouse@stlawrencecountychamber.org or 315-386-4000.

Realtors Meet with State Legislators

 

Lance Evans

Last month I wrote about our meetings with our United States senators and congresswoman in mid-May. Several days after returning, a number of area Realtors and other interested parties went to Albany to meet with our state representatives on May 23 about several state-specific issues of interest to area homeowners. This was part of the New York State Association of Realtors’ annual Lobby Day. Over 250 Realtors from around the state participated.

    The Tri-County area was represented by Linda and Pat Fields (Linda J. Fields Broker and Professional Institute for Real Estate Training), Lisa L’Huillier (Hefferon Real Estate), Karen Peebles (Berkshire Hathaway HomeServices CNY Realty), Chuck Ruggiero (Hefferon Real Estate), Cheryl Schroy (Key Bank), Vickie Staie (Staie on the Seaway Real Estate Services and Appraisals USA), and Jennifer Stevenson (Blue Heron Realty) along with me. During the day, we met with Senators Joe Griffo (47th District), Betty Little (45th District) and Patty Ritchie (48th District). In addition, we had meetings with members of the Assembly Will Barclay (120th District), Ken Blankenbush (117th District), Marc Butler (118th District) and Addie Jenne (116th District). We informed them about the current housing market and our stances on several issues.

    We began by talking about the NY First Home Program. This is a first-time home buyer savings account program introduced by Senator Little and Assemblyman Phil Ramos (6th District). If passed into law, it would create a new tax-free savings account modeled after the State’s 529 College Savings Program. NY First Home would help New Yorkers achieve the dream of homeownership by creating a dedicated savings account to be used exclusively to cover costs associated with the purchase of a first home in New York state, whether that is a single family residence, condo, cooperative apartment or townhome.

    Using this program, New Yorkers could cover costs associated with the purchase of a first home using this dedicated savings account to deposit up to $5,000 ($10,000 for couples) of after-tax dollars annually, receive a state income tax deduction on the principal investment and grow savings tax-free, and then apply the savings and interest towards the purchase of a first home in New York state.

    The largest inhibitors for hopeful first-time home buyers in New York state are the initial up-front closing costs and high down-payment requirements. Enactment of NY First Home would provide New Yorkers with a practical savings mechanism to make buying a first home more affordable in New York state. This incentive would also have a positive effect on retaining young people in the state and provide a boost to local and state economies.

    A Sienna Research Institute poll in December 2016 found that 84 percent of New Yorkers supported NY First Home and 80 percent agreed that the governor and Legislature should make assisting New Yorkers in saving for a first home a priority.

    This bill passed the Senate during the 2016 session and is working its way through both houses in 2017.

    Our second issue concerned reinstating the STAR Exemption Program and sunset the School Tax Relief credit program that was written into law last year. Although both called “STAR,” the two programs work differently. The previous version provided immediate or “upfront” reductions in school taxes for homeowners.

    The change in 2016 to the STAR credit program led to confusion with new home buyers unsure of whether or not they would see the upfront savings as an exemption or be mailed a check under the credit program. In the worst instances, many homeowners received STAR credit checks later than when their school taxes were due, making it difficult to pay the full school tax bill. It is also still unclear from the Department of Tax and Finance whether or not future STAR credit checks will be taxed as income. This legislation would return the STAR program to a predictable upfront tax benefit to New York’s homeowners.

    The legislation has passed the Assembly and is working its way through the Senate.

    Realtors will continue to watch these issues and advocate for current and future New York property owners with our federal, state, and local officials.

LANCE M. EVANS is the executive officer of the Jefferson-Lewis Board of Realtors and the St. Lawrence County Board of Realtors. Contact him at levans@nnymls.com. His column appears monthly in NNY Business.

The Philanthropist in all of Us

Rande Richardson

Philanthropy is a major part of what defines America. In the north country, philanthropy has enhanced our communities. Do you consider yourself a philanthropist? When the Community Foundation embarked on the concept of developing a philanthropy center, inspired from a similar model in Central New York, a friend’s response was: “I love the idea, but I wish you would call it something else.”

    For someone who has spent a significant time striving to make service to the place you live increasingly inviting, inclusive and diverse, I was taken aback, perhaps even a bit offended. I quickly realized that somewhere along the line, the word “philanthropy” had lost its true meaning in the Greek origin of the word: “love of humankind.”

    Make no mistake, there are wonderfully generous people who have the ability to give financially in support of philanthropy, and our communities are phenomenally better for it. I am fortunate to witness it nearly every day. Financial resources can and have accomplished great things; however, money alone does not define philanthropy. Without other elements of philanthropy, the impact is never as great nor as sustainable.

    Theoretically, everyone has the ability to love their fellow human beings. It is as simple as using any of your resources to make life better for other people. Time, energy, ideas and advocacy are something anyone can share. In fact, many north country citizens have already done this, and have for hundreds of years. Some of our region’s greatest institutions, programs, and nonprofit organizations were made possible because of philanthropy in all of its forms.

    Have you ever volunteered for a community organization or effort? Have you taken time to help someone without a thought of receiving something in return? Have you ever given blood? Have you been a volunteer coach or mentor? Have you provided support or encouragement to someone when they’ve experienced a difficulty or a loss? If so, you are a philanthropist.
    So, by definition the opportunity to be a philanthropist is available to all of us. At the Community Foundation, we’ve encouraged more people to participate through programs that have helped inspire children, youth and younger generations. We’ve created mechanisms that provide people of all means a seat at the table for community change. It has resonated. We’ve grown. We have philanthropists that never thought they could be, seeing the meaningful impact they never thought they could have. Together, we’ve created more opportunities for caring more, loving more, sharing more and helping others more through giving in all of its forms.

    I believe that by practicing philanthropy in the way we want to shape our community and our world, we lead happier, healthier lives. We must inspire and nurture the ability for everyone to know they’ve done something to make their community a better place for others, and themselves. Time, energy and ideas are things everyone with some skill or talent can share, and have the joy in giving them.

    We all have a stake in the failure or success of community philanthropy. I challenge you to be thoughtful, intentional and deliberate in the way you affect humankind, looking to do it in more stewarded, lasting ways. Be confident that you’ve got what it takes to use your life to fulfill the true meaning of the word in support of the things you are most passionate about

    So who gets to call themselves philanthropist? It is a concept and a title that is accessible to everyone. It is important to embrace the broadening “democratization” of philanthropy, widening the playing field, and send the message that we must continue our focus on giving in all ways, including volunteerism and nonprofit service and leadership as well as monetary. Without the passion and resources devoted to philanthropy, not only would our communities be less vibrant, so would each of our lives. The next time you hear the word philanthropy, I hope you see yourself, your family, your children and your friends as the catalysts for real change.

    Our time on this earth is relatively short. That should not stop us from aspiring to have our impact be enduring. Now that I think of it, being a center for philanthropy (in all the ways it is expressed) is exactly the right name, for the right cause, at exactly the right time.

Rande Richardson is executive director of the Northern New York Community Foundation. He is a lifelong Northern New York resident and former funeral director. Contact him at rande@nnycf.org.

Your PTAC Counselor and Their Services

Amber Stevens

Before taking you on a journey through a typical day as a PTAC counselor, I’d like to preface this with a brief explanation of what “PTAC” stands for, and why, if you’re a business owner, you may want to consider giving your local PTAC office a call.  PTAC, the first of many acronyms you’ll find throughout this article, stands for Procurement Technical Assistance Center.  It is a designation given to over 3oo offices nationwide that provide cost-free assistance to U.S. businesses who participate, or have the potential to participate in the government marketplace.

    Something that is crucial to keep in mind here is that the government buys just about everything!  Are you a small business selling a product or service?  If so, chances are high that some form of government, whether on the federal, state or local level, could potentially have a need to buy what you’re selling some day. They just don’t know it yet.  According to USASpending.gov, a Department of Treasury website that tracks federal spending and contracts, more than $9 billion in federal contracts were awarded to New York state companies or organizations throughout fiscal year 2016 alone.  An additional $1.4 billion were awarded to subcontractors in the same year.  These are significant dollar figures representing a market that simply should not be ignored due to the perceived complexity of doing business with the government.

    With the continual expansion of Fort Drum’s infrastructure over nine years ago, came the apparent need for a regional PTAC in the north country, and with the help of organizations such as New York Business Development Corporation (NYBDC) and Fort Drum Regional Liaison Organization (FDRLO), a PTAC program was established at the Greater Watertown-North Country (GWNC) Chamber of Commerce in Watertown.  North Country PTAC is now one of eight regional centers located in the state, and assists close to 600 clients across 11 of the most northern counties in the state.  Federal funds awarded to firms located within this 11-county territory have reached just over $3 billion year-to-date in  fiscal year 2017 making up for just 3 percent of the $99 billion in federal funds awarded across New York state so far this year.

    All PTAC programs are unique in their own way and ours is no exception, as it is one of few in the country whose host organization is a Chamber of Commerce.  Not only is the GWNC Chamber the largest business association in the north country, but its close proximity to a military installation makes it an ideal host for the North Country PTAC program and a one-stop shop for all your business needs.  It Is important to note that although there are many benefits to becoming a member of your local Chamber of Commerce, there is no membership requirement to receive the free and confidential services provided by the North Country PTAC program.

    A PTAC counselor’s job is to act as a resource to businesses in pursuit of government contracts at federal, state and local government levels.  On any given day, this could mean conducting one-on-one counseling sessions where they are assisting clients with registrations and certifications, determining their company’s readiness to sell to the government, or advising businesses how to go about finding, pursuing and managing government contracts. Clients are also encouraged to sign up for the PTAC’s Bid-Match service, an electronic tool available to all businesses that will help them identify bid opportunities by sending email notifications when the client’s products and/or services match requests for proposals (RFP’s) posted on online bid board sites.

    In addition to one-on-one sessions, North Country PTAC coordinates and provides classes, training seminars and online webinars to provide the critical training and in-depth assistance our local businesses need to compete and succeed in defense and other government contracting.  Throughout 2016 the program sponsored 35 networking and educational events with a focus on a variety of contracting topics including, but not limited to Veteran Owned Business Certifications, MWBE Certifications, new acquisition procedures, specialized solicitations, federal contracting and many more.

    Although assistance is targeted toward small businesses, especially veteran-owned, and woman- and minority-owned enterprises, large businesses can benefit from PTAC services as well by participating in trainings, and with help identifying qualified subcontractors and suppliers.

    Your local PTAC Counselor is not only meeting new people and learning new things every day, but is required to be an expert on all things related to government procurement.  Although it is a challenging role that requires a solid understanding of stringent government standards and complex contract requirements, it’s fulfilling to know that the efforts put forth by the North Country PTAC program do, and will continue to, boost economic activity in the north country by helping local businesses navigate contracting processes.

    North Country PTAC helps create jobs and drive economic benefits in our community.  In 2016 alone, North Country PTAC increased its broad base of capable suppliers and enhanced competition by providing over 500 hours of counseling time, created or retained over 9,000 jobs, and added 92 new clients to its database.  The overall database stands at 591 active clients.

    If you own and operate an established business located in the north country, you are eligible to become a client of North Country PTAC.  To do this, you can go to www.northcountryptac.com, click PTAC SINGUP at the bottom of the page, then complete and submit the online application form. 

                Feel free stop by or call the PTAC office located within the GWNC Chamber of Commerce between 8a.m. and 4:30p.m. Monday through Friday at 1241 Coffeen St., Watertown, NY 13601 or 315-788-4400.

National Grid has Programs to Assist Agriculture

Jay Matteson

Farms and agribusinesses considering improving their energy efficiency or an expansion project should look closely at the program National Grid offers. They have been a good partner to many farms across Northern New York offering financial assistance for energy projects. As an example, National Grid assisted a 430-cow dairy just north of Albany in 2015. The farm wanted to improve their energy efficiency and increase their productivity.  National Grid was able to help the farm achieve both objectives through $18,000 in energy efficiency incentives and a $50,000 grant from National Grid’s Economic Development Agribusiness program.

    National Grid offers a variety of energy saving farm incentives. Improved lighting systems can increase milk production per cow and provide a better work environment for farm staff. National Grid provides significant incentives for converting old light systems to newer higher efficiency systems. There is a range of incentives offered depending upon the type of fixture.

    Fans can be a huge electricity demand during the warm summer months. Without fans, herd health and production can drop significantly. It is important to provide well-circulated air flow and cool temperature to keep your cows happy and minimize fly problems.  Through National Grid’s help, farms may be able to obtain more efficient fans that improve air quality and cooler temperatures.  In addition, variable frequency drives and controls can be put in place to allow fans to run only when needed adding additional savings onto a farm electricity bill.

    Assistance on upgrading milking equipment may also be possible from National Grid. Variable frequency driven vacuum pumps, air compressors, pumps, air dryers, milk precoolers, heat exchangers and chillers are eligible for National Grid incentive payments. Many farms have already taken advantage of incentives from National Grid to upgrade this equipment.

    Some of our farms located in the rural areas of Northern New York face limitations because of the power supply to the farm.  In order to upgrade or expand facilities, farms sometimes face needing a three-phase power supply to farm instead of single-phase. This can be a very expensive proposition as the farm will incur the costs of running three-phase power to the farm, if the supply is not present in front of the farm already. National Grid does have a grant program to decrease the cost of obtaining three-phase power. Potentially, depending upon the specific situation the farm faces, it may receive up to $200,000 for running three-phase power.

    The National Grid Agri-Business Productivity Program is available to assist dairy farms, commercial farms, food processing businesses and controlled environment agricultural facilities with energy efficiency improvements, renewable energy projects and delivery or productivity improvements. To be eligible a business or farm must receive electric or natural gas from National Grid and be undertaking an energy efficiency project through any public agency or utility program or be purchasing /installing equipment for a renewable energy project to service the facility. A project that is constructing or upgrading a new controlled environment agriculture facility may also be eligible.  Awards up to $50,000 are possible.

    Our office has a great working relationship with the Economic Development and Corporate Citizenship office of National Grid in Syracuse. Mr. Joe Russo is great to work with and has worked hard to help farms and agribusinesses with their projects.  If you are interested in learning more about these programs, please give our office, Jefferson County Economic Development, a call at 315-782-5865 or by email to coordinator@comefarmwithus.com or contact Mr. Russo directly at 315-428-6798.  You’ll find a good partner through National Grid with your energy efficiency or expansion projects.

Jay M. Matteson is agricultural coordinator for the Jefferson County Local Development Corp. Contact him at coordinator@comefarmwithus.com. His column appears monthly in NNY Business.

Greetings to the members of the Class of 2017!

Bob Gorman

Those of you who should have been in the Class of 2016 have already learned an important business lesson about this esteemed institution that honors you today: The journey is more important than the destination — as long as your check doesn’t bounce.

    And speaking of business, all of you will be looking for a job soon and there are a couple of things you ought to know. Your perception of the job market and what you think employers are looking for is likely very different from what the job market is and what employers are actually looking for.

    It’s like the difference between a recession and a depression. A recession is when your neighbor loses his job. A depression is when you lose YOUR job. The Rev. Jesse Jackson campaigned for president in the 1980s using this concept. Even though national unemployment was 5 percent at the time, he would tell listeners: “But if YOU are the one without a job, the unemployment rate is 100 percent.”

    Your perception of the job market is affected by the government, which relentlessly tinkers with the economy to create more jobs. Thus, you may be under the impression that everyone is doing his utmost to ensure that everyone has a job.

    And you would be wrong.

    Government says it wants full employment. But business and industry strive for minimum employment because minimum employment is the key to keeping down costs.

    Thus, as you look for a job you should know this: Nobody really wants to hire you.

    This is evidenced by the fact that in most cases, the job you will be applying for has been vacant for some time.

    Business and industry often allow jobs to go unfilled for a while to control expenses and to learn — or be reminded — of just how important the job is to the company. By the time you show up for the interview, the company has only recently — and reluctantly — decided that someone must be hired.

    There are some very sound business reasons for this reluctance.

    1) You are costly. Your salary is all that you see, but the company sees health benefits, insurance, Social Security and a variety of other costs. You think you’re getting paid $30,000, but to the company you are costing it $40,000 or more.

    2) You don’t know anything. You’ll even admit it in a job interview by saying such things as, “I’m a quick learner,” or “you’ll only have to tell me once.” To the company you are a person who won’t generate a return on its investment for at least a year.

    3) You have just spent four years in college being coddled in a manner the rest of the world can’t afford to replicate. There are a lot of chuckleheads who six months out of college quit their jobs and run home to mommy after being wounded by some minor inconvenience. Thus, you are considered a flight-risk hire.

    So if nobody wants you, how do you get a job? The first thing you must do is decide what you want to accomplish in your interview. That means you must learn what the company wants to accomplish.

    Of course, there are several things you shouldn’t do during a job interview. Never ask:

* When do I get a vacation?

* When do I get a raise?

* Will I have to work overtime?

    Never announce which sports teams you hate. Don’t say church is for idiots. If asked about hobbies, don’t meander into your sex life. And don’t get cute and ask what the company is doing to save the Brazilian rain forest, unless the company is actually trying to save rain forests.

    Obviously, what you say will be held against you. In a way, what you are trying to do is have a lively discussion without putting your foot in your mouth.

    Make a list of questions and store them mentally. Learn about the company’s history on its website. They do not have to be great questions, but they will show that you are actually interested in learning about the company. How long does training take place? How many employees are there? Does the company encourage people to be involved in community activities? After all, most businesses and industries want to be good corporate neighbors and want employees who are on the same wavelength.

    Basically, you have few advantages during the interview other than trying to control who is doing the talking.

    Will any of this work? There are no guarantees, of course. Nobody has a sure-fire method for getting a job. But I do know how you can at least be asked to come in for that crucial job interview.

    On your resume, write the following:

SHORT-TERM GOAL

    “To do my job so well that within a year after I’m hired my supervisor will receive a promotion and a pay raise.”

    I know this doesn’t jibe with your notion that the world is about you. But forget the jibe; you need a job. Trust me, this will work.

                Good luck on your future, especially to those of you who added a self-inflicted extra semester or two to your debt load.

Realtors Advocate For Property Owners and Buyers

Lance Evans

The month of May saw Realtors from our area join their counterparts across the state and nation to advocate for consumer friendly real estate issues and oppose measures that would hurt property owners and buyers.

    During the week of May 15 to May 20, the National Association of Realtors (NAR) held its annual Legislative Meetings & Trade Expo in Washington, D.C. Attended by approximately 8,500 attendees from across the country and around the world, the week included about 200 meetings and events that covered many real estate topics and allowed Realtors to take an active role in advancing the real estate industry, public policy, and the Association. 

    The tri-county area attendees included Jennifer Dindl (Humes Realty and Appraisal), Carolyn Gaebel (Bridgeview Real Estate and Gaebel Real Estate Services), Lisa L’Huillier (Hefferon Real Estate), Brittany Matott (County Seat Realty), Al Netto (Weichert Realtors, Thousand Islands Realty), and Jennifer Stevenson (Blue Heron Realty), along with myself. During the week there were NAR and Women’s Council of Realtors committee meetings, idea exchanges with other Realtors and staff, and information and updates that will assist all of us in better serving the area’s real estate consumers.

    On May 18, we met with Congresswoman Elise Stefanik and joined colleagues from around the state while meeting with Senator Kirsten Gillibrand and Senator Charles Schumer. We focused on three main issues.

    The National Flood Insurance Program (NFIP), of particular interest to our area, is slated to expire on September 30. Without reauthorization, NFIP cannot issue or renew policies in 22,000 communities where flood insurance is required for a mortgage. The NFIP was created to provide incentives for communities to rebuild to higher standards and steer development away from flood zones. In exchange, communities gain access to flood maps, mitigation assistance and subsidized insurance to prepay for future damage and recover more quickly from flooding. The NFIP was last up for reauthorization in 2008. There were 18 short-term extensions and a two-month shutdown before Congress reauthorized the program in 2012.

    We asked our representatives to pass the “Flood Insurance Market Parity and Modernization Act,” which passed the House unanimously last year, and to enable consumers to meet federal requirements with private plans that often offer better coverage at a lower cost than the NFIP.

    Tax reform was also on our list of issues. While no tax reform legislation had been introduced as of our meetings, there were several plans that had been discussed. Some of these would lower tax rates and raise the standard deduction, but would pay for these changes by scaling back existing real estate tax provisions. Proposals that limit itemized deductions, even if not directly changing rules applicable to mortgage interest, could have serious negative consequences for homeowners. 

    PricewaterhouseCoopers (PwC) analyzed a blueprint-like tax reform plan and noted that home-owning families with incomes between $50,000 and $200,000 would face average tax hikes of $815 in the first year after enactment, while non-homeowners in the same income range would see an average cut of $516. Currently, homeowners pay 83 percent of all federal income taxes, and this share would go even higher under similar reform proposals. Homeowners should not have to pay a higher share of taxes because of tax reform.

    Further, proposals limiting tax incentives for homeownership would cause home values everywhere to plunge. Estimates provided by PwC show that values could fall in the short run by more than 10 percent, with a larger drop in high-cost areas. It might take years for home values to rebound from such a significant decrease.

    The final issue we spoke about was protecting sustainable homeownership.   We asked our representatives to responsibly reform the secondary mortgage market. Failure to do so, while limiting costs imposed on homeowners, ensure proper loan disclosures, and fund necessary system upgrades for federal housing programs hurts the very fabric and underpinnings of our society.

    Fannie Mae and Freddie Mac act as a backstop for mortgages and help to safeguard 30-year, fixed rate mortgages ensuring families are not shut out of homeownership. We asked that these entities not be dismantled without identifying a viable replacement.

    The week was productive and informative. It is important that our representatives hear from Realtors advocating for property owners. The information we received at the meetings will assist us as we work for housing opportunities in the area.

LANCE M. EVANS is the executive officer of the Jefferson-Lewis Board of Realtors and the St. Lawrence County Board of Realtors. Contact him at levans@nnymls.com. His column appears monthly in NNY Business.

Farmer’s Market Season is Upon Us!

Jay Matteson

By: Jay Matteson

A true sign that Northern New York has moved away from snow season is the beginning of farmer’s markets in May. Fresh, local produce, baked goods, potted flowers and local wine are among some of the things that visitors to a market will find.  Having a great conversation with a friend, getting a bite to eat from a food vendor and sometimes enjoying musical entertainment are extras that make our local open air markets something many look forward to.

    The first market of the year to open is the big Watertown Farmer’s Market on Wednesdays, beginning May 24, in front of the Dulles State Office Building on Washington Street in Watertown. This market features almost everything you want from an outdoor market.  Local produce, eggs, meats, wine, plants, baked products, fudge, candies, honey and many other farm products are available depending upon the time of the season.  You’ll also find arts and crafts, clothing, jewelry, informational booths and many food vendors.  They commonly have musicians providing live performances during the market.  This market begins at 6:30 a.m. and ends at 3 p.m. The market accepts FMNP, WIC and SNAP benefits.

    Three markets open on Friday May 26, 2017 and run on Fridays until their end date. The Carthage Farmer’s Market is held at the Farmer’s Market pavilion on Riverside Drive from 7 a.m. to 2 p.m. This market accepts FMNP benefits.  The Alexandria Bay Farmer’s Market opens at 9 a.m. and ends at 3 p.m. It is located in the Kinney’s Drugs parking lot. The Alexandria Bay Market does not accept any benefit programs. If you can’t make any of the daytime markets, you might want to visit the Jefferson Bulk Milk (Cheese Store) Farmer’s Market on Route 3 in Hounsfield as they start in mid-afternoon at 2:30 p.m. and end at 6 p.m. This market accepts FMNP,WIC, and SNAP benefits. Another market that runs on Fridays but doesn’t open until June 2 is the South Jeff Chamber of Commerce Farm and Artisan Market.  This is the first year for this market which will be held in the big pavilion behind the Adams Volunteer Fire Department.  The South Jeff market starts at 3 p.m. and ends at 7 p.m. allowing people to visit the market after working hours. They will not be accepting any benefit programs.

    On Thursday, June 1, the Clayton Farmer’s Market opens. Held in the Village Park, this market starts at 10 a.m. and ends at 4 p.m. They are not accepting any benefit programs. This beautiful location gives visitors a nice chance to walk around downtown Clayton and view the mighty St. Lawrence River.

    Saturdays are also a busy farmer’s market day. The earliest market opens at 9 a.m. in the pavilion at J.B. Wise Place behind Public Square in Watertown. The Saturday Farmer’s Market opens at 9 a.m. and ends at 2 p.m., beginning on June 3. This market accepts FMNP, WIC and SNAP benefits.  Starting June 17 on the Village Green in Cape Vincent, you will find the Cape Vincent Farmer’s Market. This market opens at 10 a.m. and ends at 4 p.m. They do not accept any benefit programs.

    A new farmer’s market in Jefferson County is at one of our newest farm wineries. The Busted Farmer’s Market is hosted at the Busted Grapes Winery at 19557 Ball Road, Black River. They are also the only market open on Sundays. Starting on June 18, they will open at 11 a.m. and end at 4 p.m.  They do not accept any benefit programs.  This could be a fun market to visit if you’re not doing anything on a Sunday, just don’t get busted!

    All of this information is available on the calendar of agricultural events found at www.jeffersoncountyagriculture.com. The list of markets is also available in the “Local Food Guide” published by Cornell Cooperative Extension of Jefferson County. The local food guide will be available on their website, www.ccejefferson.org/local-foods as soon as it is published.