To the editor:
Hudson is going through a property value reassessment which has been a difficult process and/or shock to many. We are a wonderful small city, and my husband and I have chosen Hudson as our home. But as new-comers to our town, we have also helped to drive an increase in property values. Some call this gentrification, which has a particular impact on our long-term residents. Some might say that they should be glad that their property values are going up since they now have a more valuable asset, however, they may not want to move! Until they are ready to sell, they are just faced with a higher tax bill.
Other cities, including Philadelphia, have tackled this problem with a Long-Term Resident Program (LOOP). The key components are that 1) the value of the property has increased by over a certain percentage since the last assessment, 2) the owner has lived in the house for a certain length of time, and 3) the household income is below a certain amount depending on the number of people living in the home.
The property tax process is governed by New York State law. If we want a program like this in Hudson, we need to lobby for a change at the state legislature. If you think this is a good idea, please write your representatives in Hudson and state legislature to build support.
Property taxes are how we pay for our city’s services. The reassessment process ensures that our taxes are distributed fairly. We are happy to pay our fair share of taxes, and we don’t want to see our long-term neighbors hurt.