Assessor says in-house appeal blocked state'proposed spike, saving Peekskill taxpayers about $655,000

The city's assessor told the Committee of the Whole that an in-house appeal of the New York State Department of Taxation and Finance's proposed 2026 equalization rate prevented a sharp, state-proposed increase in assessed commercial values.

"Our successful challenge stopped a nearly 22% artificial spike in commercial property market values," the assessor said, describing five submissions to the state over six weeks that identified errors in the agency's analysis. He said the corrected rate reduced projected commercial value increases and lowered Peekskill's share of the Westchester County tax levy.

The assessor credited a targeted postcard mailing campaign to roughly 5,100 residential property owners for stabilizing exemptions and increasing veterans' and senior exemptions; the office said it administers about 2,800 exemptions annually. He also reported that the corrected equalization work will produce an estimated Westchester County tax-levy savings of $655,000 for Peekskill taxpayers in fiscal year 2027.

Council members thanked the assessor and his small staff for handling the appeal in-house without hiring an outside expert. The office noted the assessment team consists of two employees and that the 2027 assessor budget is roughly $1,700 lower than 2026.

Council did not take a formal vote on the assessor's budget at the session; the presentation closed with council questions about outreach and exemptions.