By Mary Marvin, Mayor of Bronxville

Oct. 30, 2025: Village Assessor Mark Heinbockel refreshed the Trustees’ knowledge on all aspects of property assessment at our most recent Board of Trustees’ work session.

His presentation was so informative that I thought it important to share with all Village residents.

The following is a distillation in Q and A form

1. What is considered in the valuation of my home?

Location, Location, Location is the most common factor in the valuation process, however other factors including condition, quality of improvements, size and amenities are factors in the valuation of real estate.

2. How does supply and demand affect pricing?

The market is driven by many factors which create demand; schools, access to major transportation arteries and shopping to name a few. A significant factor is the supply of available housing stock and the demand by potential buyers to acquire them. Limited inventory accompanied by consumer demand creates a sellers’ market, a situation we are currently experiencing in the Village.

3. Are assessments changed based on sales?

The Village of Bronxville is a revaluation community and as such assessments can be changed up or down based on sales pricing. Other factors can change assessments, such as permits/significant work and trending (changes to market values within the community).

4. How does an Assessor value properties?

Assessment offices base values on many factors of which a recent sale is the most typical. Permits signifying improvements, i.e.: new kitchen, baths, and additions are factors. In a revaluation community like Bronxville, market activity for the entire Village is also considered.

5.Do properties appreciate or depreciate at the same rate?

The answer to this question is generally no, however in a changing market, appreciation or depreciation can generally be attached to all properties just at different percentages.

6. Does an increase in assessment in the Village of Bronxville affect my Town taxes?

The Town of Eastchester has its own assessment process. Eastchester is not a revaluation community and therefore cannot make changes to assessments in a similar fashion as Bronxville. As example, if a Bronxville property sells and its Village assessment increases to reflect that sale price, the Town of Eastchester cannot raise its assessment based on the same sale, therefore the Town assessment remains the same.

7. Are interior inspections required?

Interior inspections are typically done as a result of permits to do work. However, they are not required for assessment purposes. The assessor’ office reviews plans and walks by properties to see progress of improvements.

8. Is there a process to protest your assessment?

While most people protest because they think their taxes are too high, the protest process is really about the value of the residence. Typically a homeowner needs to know the value of his or her property and if it is correct, the protest process can be futile. The best method of proof is an appraisal of the property by an objective appraiser. The protest process is not designed to be confrontational and can be done by the applicant without aid of counsel. It should be noted that my taxes are too high is not a competent protest and will generally be dismissed. The more proof submitted, the better the odds of success.

9. What is the effect of, for example, a finished basement that does not have a C of O? Does the Assessor value the basement and does the Assessor check if there’s a C of O and report the lack thereof?

The Assessor cannot value the unknown. If work was completed without the benefit of a permit, the Assessor cannot speculate on said improvements until they become known.  If a property is listed and these improvements are advertised, then the new information becomes part of the valuation process.  The Assessment Office looks at every permit and C of O during the course of the year. 

10. How do you factor in a situation such as the following: Someone’s parents bought a house years ago for $100,000. Now the family needs to sell and knows the capital gains will be huge anyway so does not ask perhaps a number they could get?  

The Assessor is charged with providing a market value for each property within the Village boundaries, therefore regardless of any accounting calculus, our value will strive to achieve market value. With respect to the claim that someone overpaid because of acquiring a certain style home or a famous local architect or neighborhood, these conditions in themselves can create a market or set a future standard of value.  In a rising market, everyone essentially overpays, because that is what the market will bear. Quality generally wins in the end.  When demand wanes or supply increases the market typically will self-correct appropriately.