UTICA, N.Y. — The City of Utica’s assessed tax base increased by $7 million over the past year, according to the recently completed final assessment roll.
The city says the increase resulted directly from its marketing of foreclosed properties to private developers, putting those properties back on the tax rolls. It also highlights the results of the city’s economic-development initiatives and the high volume of construction occurring throughout the city.
Since 2012, Utica has sold more than 800 properties, including a dozen major commercial properties to private developers. Many are located in the downtown/Bagg’s Square corridor.
(Sponsored)
The New Rule for Independent Contractors – Are You Ready?
Effective March 11, 2024, the US Department of Labor will change the analysis it uses to determine whether an individual is an employee or independent contractor under the Fair Labor
How To Seamlessly & Responsibly Integrate AI Into the Workplace
Artificial intelligence (AI) is one of the hottest topics in today’s tech and office technology thought leadership. Everyone seems to be aware of the capabilities of AI, but some might
“The expansion and increase of our tax base is a result of hard work and the public-private partnerships we’ve fostered as an administration,” Mayor Robert Palmieri contended in a news release.
The Oneida County Department of Finance provided the city technical assistance to ensure it met all state filing deadlines.
“While more work needs to be done to continue this progress, this is a strong validation of our efforts,” Palmieri said.
