A New President, A New Plan

AMANDA MORRISON / NNY BUSINESS
Ty A. Stone poses in front of the John W. Deans Collaborative Learning Center on Jefferson Community College Campus.

Ty Stone sees Jefferson Community College as integral part of Northern New York development. [Read more…]

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.

[Read more…]

Tri-County Doctors: The business of recruitment

DAYTONA NILES / NNY BUSINESS
Dr. David Wallace just started his job at the River Hospital in Alexandria Bay.

[Read more…]

Cultivating Continued Care options

AMANDA MORRISON / NNY BUSINESS
Nurse Michelle Wood adjusts the hat on a patient at the center.

[Read more…]

Midwifery Awakens in the North Country

AMANDA MORRISON / NNY BUSINESS
Josephina Yankovski holds baby Eli while being cared for at Carthage Area Hospital by midwife Joyce Wilder.

[Read more…]

Changing Cancer Care Options

AMANDA MORRISON / NNY BUSINESS
Construction work continues on the foundation for the new Cancer Treatment Center at Samaritan Medical Center.

[Read more…]

Serving the North Country: CCE of Jefferson County isn’t just about agriculture; programs serve thousands of residents.

DAYTONA NILES / NNY BUSINESS
Kevin Jordan, executive director of Cornell Cooperative Extension of Jefferson County

[Read more…]

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.

Youth Philanthropy Council Program Successful

Rande Richardson

By: Rande Richardson

“Educating the mind without educating the heart is no education at all.” –Aristotle

Now in its eighth year, the Northern New York Community Foundation’s Youth Philanthropy Council program continues to thrive as more and more high school students learn about the north country’s nonprofit organizations and the way they impact the lives of us all. In addition to the way it helps engage the next generation within their communities, it also helps provide valuable insight into what way they want to make their mark and change the world. This is on top of the $20,000 in grants they will award this June.

    We also get a glimpse into the way they prioritize and make decisions. We see what resonates with them and what types of organizations they feel provide the most value, and those they don’t. Nonprofit organizations should take note as they will eventually need to effectively engage future generations to remain relevant and supported.  

    For some time, we have sought a way to begin engaging even younger students. As the end of the school year approaches, an initiative is being prepared to be launched when school resumes in September. Targeted at middle school students, this new giving challenge program will be a precursor to the current Youth Philanthropy Program and will help spark an increased awareness of, and interest in, the work of area organizations.

    The Community Foundation and Stage Notes Performance with a Purpose, who share similar objectives, will join forces for good, empowering area middle school students to identify the way they would like to see their communities enhanced. Stage Notes will dedicate $5,000 of their show proceeds this summer, combined with $5,000 from the Community Foundation. By the time we enter the season of gratitude and giving in November and December, a total of $10,000 will be awarded to area nonprofit organizations.

    Students will compete for multiple, various grant awards.  Although specific details will be forthcoming, the challenge will involve two major components. Seventh- and eighth-graders will be asked to write about what “community” means to them— their definition of community and what elements help make the place they live strong and vibrant. The students must then explain which nonprofit organizations they believe can best support their vision for their community in areas of both basic human needs and overall enhancement of quality of life. The winning students will visit the organizations, personally present their gifts and see with their own eyes how their sharing and caring makes a difference, recognizing that the generosity of others has made it possible.

    We hope this program encourages families to think about what others do to make the place they live better and the role they can play in encouraging it, today. As a society, we believe in the importance of educating the mind, and both the Community Foundation and Stage Notes want to continue to encourage fostering educating the heart.

    There is no better way to involve youth in making a difference than allowing them to be a part of the decision making process. We also reinforce that we are a community together and we need good citizens to perpetuate making that community the best it can be.

    Sure, the grants themselves will have a direct positive effect on nonprofit organizations and the work they do, but it is even more exciting to think about the long-term multiplier effect of encouraging this type of thought at a young age. We look forward to sharing the results with you.

    One way or another, our children’s vision for our community will become our vision for the community. These types of meaningful experiences will help provide inspiration throughout life and refine a more deliberate approach. We all have a responsibility to help ensure the community they inherit is one we all would wish for them so the phrase “good enough”  is never used for the place they spend their lives. We know summer vacation is just around the corner, but you can understand why we’re already excited to get back to school!