Details

Written by Lee Fischman

Category: Real Estate

Published: 13 March 2019

Scarsdale’s tax roll deeply affects our pocketbooks. The tax roll is based on property assessments. The problem is, assessments change over time based on all sorts of factors and, even in the best of times, they can be inaccurate. When they get too far out of whack, a municipality-wide revaluation is called for.

In 2014, Scarsdale conducted its first revaluation in 40 years, after the case had been made that its largest homes were being under-assessed. Just two years later, in 2016, a new assessment was conducted. There was controversy about why the 2016 revaluation was done so soon, and then about how it was conducted, which I’ll not go into here. But how have we done since?

I reported on the health of the assessment back in November, but my work did not include the prime summer sales season. That was the period to see whether assessments were still “correct enough” and there was a good chance they would not be, given the dramatic changes in Federal tax deductions and other factors. I’ve now been able to obtain sales through mid-February 2019 and we can see how assessments have held up.

Homes in Scarsdale could be particularly prone to inaccurate assessment because they are so wonderfully varied. Assessments could systematically err based on homes’ values. Let’s call this “fairness”. For example, if home A is worth $1 and home B is worth $2 then the assessment for home B should be twice that for home A. To the extent it isn’t, it’s “unfair”.

How fair are Scarsdale’s assessments? Let’s see, year by year, noting that these are “tax roll years” starting in mid-September:

The 2014 reval left assessments slightly biased against more expensive properties and therefore biased in favor of less expensive properties. By the year after, for whatever reason, assessments became worrisomely biased against more expensive properties. The 2016 reval restored order, essentially favoring neither more expensive nor less expensive properties. Since 2016 however, bias had crept up – in favor of less expensive properties. That is where we were left in November and I was afraid this would become a trend, but it may not have. Valid sales between mid-September and mid-February were relatively few at 48, but they may indicate that assessments once again favor neither cheaper nor more expensive homes.

I do not know why assessments have once again become unbiased with respect to price. There are many things happening in the Scarsdale real estate market: varying payouts in the finance industry, a seeming influx of first-generation home buyers, new construction in the mid- to high value range and, of course, changes to deduction of state and local sales taxes. Scarsdale’s market is like New York’s weather, with changes being introduced from every direction.

We also care that homes of the same value are assessed the same. That’s also not easy because in this Village, no two homes look alike. Let’s call this “consistency”. For example, if home A is worth $7 and home B is worth $7 they should be assessed the same. How consistent are Scarsdale’s assessments? Let us again see:



The short and only answer is that assessments for properties of the same value have always showed a fair amount of variation, and they continue to. This isn’t unexpected nor worrisome according to the guidelines of the assessors’ organization (the IAAO) although my hunch is that accuracy can be improved.

There is a difference of opinion about whether revals should be undertaken regularly or only when needed. I’m not sure myself. It seems that we don’t need a reval now, although I’ve only looked at Village-wide assessment fairness and consistency. There could be specific issues, for example, in certain neighborhoods, that my work did not capture.

I hope that this sort of analysis can become a regular function of the Assessor’s office, and that it is always publicly reported. The community needs to be fully informed, or we risk another brouhaha like we suffered in the 2016 revaluation.

For those of you who would like to read further, the Scarsdale Forum released a voluminous set of recommendations on future revaluations, which is available here:

Notes:
An important part of this work has been making sure that formulas and data are correct. I appreciate Michael Levine's review and input in this area. I will gladly provide my materials to anyone else who asks. Contact the Editor and she will forward the request.

This analysis included residential sales only. It excluded land sales, Christie place sales, transactions that were marked by a NYS-standard “condition code” indicating an irregularity, and properties renovated within two years of the assessment.
Ranges for fairness (PRB) and consistency (COD) were obtained from “Guidance on International Mass Appraisal and Related Tax Policy”, International Association of Assessing Officers, 2013.

Sales:
6 Ogden Road
Conveniently located in Fox Meadow, this 4,393 square foot sunny 5 bedroom, 3 full, 2 half bath Cape style home has a great layout for entertaining. It is a .39 acre level property. Main entry to gracious foyer leads to family room with a door to screened porch. This home features a large modern eat-in chef's kitchen with new windows, DCS 4 burner cooktop-grill, Sub Zero fridge, and a walk in pantry. Enormous dining room with door to screened-in porch. Large ensuite master bathroom with clawfoot tub and separate frameless shower. Powder room with new fixtures completes this spacious level. Upstairs to 3 family bedrooms, beautifully updated hall bath with double sinks. Features a sitting area, closets galore, and a bonus full height attic. Large finished basement.

Sale Price: $1,375,000
Assessed Value: $1,350,000
Real Estate Taxes: $31,424

1 Hutchinson Avenue
A ranch on nearly 3/4 acre level lot. Enjoy huge sunlit rooms with vaulted ceiling. Beautiful dark hardwood floors throughout. Fireplace in the living room. Large windows throughout the home to bring in the natural light. Chef's kitchen, with ample cabinet, counter space, and granite countertops. Large Bedrooms with lots of cabinet space. Remodeled bathrooms. Stunning backyard.

Sale Price: $687,750
Assessed Value: $725,000
Real Estate Taxes: $17,000

Featured Listings:

5 Highland Way, Scarsdale
Welcome to a Stunning, Sunny Fox Meadow Center Hall Colonial Set in Exquisite Landscaping. Beautifully renovated with fine architectural designs. Meticulously maintained. A coveted 8 minute walk to the Hartsdale Train Station. Lots of fun spaces for family and friends. A HOME TO LOVE AS SOON AS YOU WALK IN THE FRONT DOOR!
Learn more here.
Listing Price: $1,950,000

6 Revere Road, Scarsdale
Great opportunity to renovate this sun-filled five-bedroom home in the heart of Wilmot Woods on .29 acre of park-like property. This wonderful home opens to an entry hall with door to charming screened-in porch, large living room with wood burning fireplace and wall of built-ins. Don't miss this opportunity to make this the home of your dreams in a fabulous location, close to transportation and shopping.
Learn more here.
Listing Price: $639,000

Open Houses:

97 Garden Road, Scarsdale
Open House 3/17 from 2pm-4pm
Exceptional Georgian Colonial in the Grange. This gracious home sits on over one level acre of park-like grounds, complete with modern in-ground pool with Jacuzzi/electric cover and deco tennis court surrounded by beautiful stone wall. This amazing yard is completely fenced and boasts exquisite perennial plantings.
Learn more here.
Listing Price: $2,895,000

27 Parkfield Road, Scarsdale
Open House 3/17 from 1pm-3pm
Stunning three level Split, close to public transportation, parks, and recreation. Sunny living room with open flow to dining and family rooms. Eat-in chef's kitchen is adjacent to both the family room and breakfast area. Several bedrooms on second floor with a hall bathroom; one bedroom has an en-suite bathroom.
Learn more here.
Listing Price: $1,500,000

35 Gordon Place, Scarsdale
Open House 3/17 from 1pm-3pm
Handsome brick Colonial beautifully set in a tranquil, convenient neighborhood on a professionally landscaped, level .31 acre. Steps to the commuter bus and close to elementary school on the sought after "alphabet streets" in Edgemont, this freshly painted home offers a flexible floor plan and gracious layout.
Learn more here.
Listing Price: $1,239,000

Details

Category: Real Estate

Published: 20 March 2019

Sales:
32 Doris Lane
A new construction to be built in Scarsdale School District by a local premier builder. The first floor has an open layout with a formal living room, dining room with butler’s pantry, powder room, and an oversized eat-in kitchen with center island, sliding french doors that lead to a large deck and is also connected to the family room. The first floor also has a study/guest bedroom with full bath, mudroom, pantry and laundry room. The master suite has tray ceilings, 2 large walk in closets and a spa-like master bath. There are three additional bedrooms and two full baths on the second floor. The lower level has an additional 1800 square feet that can be finished with a bedroom, full bath and large playroom.

Sale Price: $2,250,000

31 Claremont Road
Wonderful Greenacres six-bedroom Colonial set on the most beautiful piece of private land with exquisite gardens. This home has an easy flow for entertaining and everyday living. There are hardwood floors, an abundance of windows that allow natural light and architectural moldings throughout this home. Built-ins line many of the walls and the home has many fireplaces. The new Trex deck overlooks the property and the bluestone patio.

Sale Price: $1,075,000
Assessed Value: $1,275,000
Real Estate Taxes: $31,433

Featured Listings:

4 Brookline Road, Scarsdale
Perfection in new construction exists. This transitional Tudor has it all. Gracious 3 story entry foyer with stunning oak staircase, custom millwork, cove moldings. Accent lighting, select 4" white oak floors, custom closets throughout. Gourmet kitchen/family room has flat panel inset cabinetry, large walnut island and more.
Learn more here.
Listing Price: $3,450,000

315 Evandale Road, Scarsdale
Hamptons-style living in award-winning Edgemont school district. Custom built, Dutch-style Colonial, designed in 2003 by Greenwich architects Alisberg Parker. No detail overlooked in this elegant six-bedroom, seven-bath home, with exquisite millwork throughout. Situated on .93 acres, with expansive 20'x42' gunite pool.
Learn more here.
Listing Price: $3,249,000

Open Houses:

75 Morris Lane, Scarsdale
Open House 3/24 from 12:30pm - 2pm
One of Scarsdale's premier properties with fabulous curb appeal, this spectacular sun-lit Tudor home with a slate roof, is situated in the heart of Murray Hill on a lush and level 1.5 park-like acres. Picturesque and tranquil outdoor entertaining spaces include mature plantings and a large stone patio.
Learn more here.
Listing Price: $2,995,000

32 Ledgecrest Road, Scarsdale
Open House 3/24 from 2:30pm-4:30pm
Highly sought-after Boulder Ridge complex offers a country-club lifestyle at it's best and 24 hour gated security. This Castle Hill unit has a private deck off the living room in addition to a walkout lower level with blue-stone patio and privacy. No need to worry about landscaping or snow removal, all is included.
Learn more here.
Listing Price: $799,000

11 Foxhall Place, Scarsdale
Open House - Sunday, March 24th 1:00 PM - 3:00 PM
4 Beds 3.1 Baths 3,821 Sqaure Fet
Meticulous and Picturesque Center Hall Colonial Located on a Lovely Street in Heathcote. Super Convenient Location! Wonderful Young Floor Plan with High Ceilings, Bright Spacious Rooms. Expansive Eat-In Kitchen w/Stone Countertops, Counter Seating as well as a Cheerful Breakfast Area wuth French Doors to the Fabulous Deck and Grounds.
Learn more here:

List Price: $1,749,000

Details

Category: Real Estate

Published: 06 March 2019

Two nice sales this week as March begins - plus some beautiful listings of homes with pools below:

Sales:
35 Bradford Road
Be captivated by the curb appeal that draws you to this sprawling stone and shingle colonial. Alfresco dining poolside enriches your lifestyle. Brilliantly landscaped for beauty and privacy, this offers a setting well-suited for gracious entertaining and easy everyday living. All generous room proportions. Herringbone mahogany floors on first floor. Kitchen has indoor barbecue. Shoreline pool. Stand alone Generac generator automatically goes on if there's a power outage.

Sale Price: $1,850,000
Assessed Value: $2,250,000
Real Estate taxes: $54,567

21 Kensington Road
Majestic 6 bedroom, 5 bathroom Tudor located in prime Fox Meadow neighborhood. Magnificent architectural details and stunning craftsmanship in this grand Tudor includes patterned hardwood floors with mahogany inlays, high ceilings (9-10 ft), oversized leaded glass windows with stained glass medallions, authentic beamed ceiling in huge, open living room, stunning views of rear stone veranda and property. Elegant entry with grand staircase, spacious sun-drenched rooms, updated bathrooms, central air, 2 wood-burning fireplaces, California closets, 2-car garage. Serene Master bathroom offers updated bath with soaking tub, jetted shower, dual sinks and radiant heat floors. Large lower level recreation area with fireplace has gym area with full bath and steam shower.

Sale Price: $1,825,000
Assessed Value: $1,800,000
Real Estate taxes: $44,906

Featured Listings:

2 Normandy Lane, Scarsdale
Hamptons Lifestyle in Scarsdale! Exceptional Center Hall Colonial estate with spectacular 2.6 lushly landscaped acres, pool, tennis and 2 bedroom entertaining Pool House. Recently redesigned by Greenwich architects, Alisberg Parker, this home was renovated in 2011-2013 with great attention to detail.
Learn more here.
Listing Price: $5,999,995

393 Clayton Road, Scarsdale
You can have it all. A rare opportunity to live in the sought after Alphabet Streets of the award winning Edgemont School District in a spectacular center hall colonial with circular driveway on .85 private park like level acre with heated in-ground pool and pool house.
Learn more here.
Listing Price: $1,800,000

Open Houses:

22 Fairview Road, Scarsdale
Open House 3/10 from 1pm-3pm
Fall in love and move right in to the exciting rebuild nestled in the grand Greenacres' Estate area. Offering supreme privacy, minutes from transportation, shops and schools, this quality built home sets the standard for today's open concept living with the seamless flow of rooms so the whole gang can share time together.
Learn more here.
Listing Price: $1,978,000

35 Sheridan Road, Scarsdale
Open House 3/10 from 1pm-3pm
Your "Chappaqua dream" right here in Edgemont. Sitting pretty on almost 1 private, level acre, this move-in-ready center-hall 5 bedroom, three-½ bath Colonial offers a country setting along with the convenient location in the mix of the neighborhood streets. Rarely do you find such a large piece of property so close to all.
Learn more here.
Listing Price: $1,599,000

1144 Post Road, Scarsdale
Open House 3/10 from 1pm-3pm
This is a buyer's opportunity to finish this 1931 English Cotswold home as buyer chooses. House to be sold in current incomplete status. The open floor design on the main floor awaits the kitchen and finish flooring. The expansion includes 5 bedrooms and 5 en-suite baths, to be final-finished.
Learn more here.
Listing Price: $998,000