BUFFALO, N.Y. (WKBW) — Reassessment season is upon the Queen City. The ever-changing market is causing some community members, like homeowner Al Brooks, to worry.
"I was hoping to die there. I don't want to be gentrified out of my own home," Brooks shared.
A 120-year-old home is something he wants to keep calling his home. He said he's carrying on three generations of memories.
"My grandparents...they rented it originally and then they bought it. And then my father and mother lived in it and they raised four children," he shared. "And now I live in there."
His home has been upgrade free for over 20 years. Yet four years ago Brooks said the reassessment of his home increased the price from $95,000 to $140,000. He's fearful it's going to happen all over again.
"They're going to raise my valuation and they're going to jack my taxes up again," Brooks said shaking his head. "I don't think I should be penalized for what people are paying to get into my neighborhood."
Which is why he said he had to be at the Northwest Buffalo Community Center where the Delaware District Project held a reassessment information session.
"The goal of this project and any reassessment project is to make it fair and equitable," a representative said.
Although a lot of factors play into reassessments. Officials will pick five properties that are similar and will base the numbers on that. But also home availability and consumer demand, interest rates, and more play a large role.
According to Zillow property values are continuing to rise. The average home price in Buffalo is just shy of $204,000. That's up almost $60,000 from 2019 when reassessments last wrapped up.
Officials said the process has already started district by district and will extend until 2025.
