Citywide reassessment leads to reduction in mil rate; bills to be sent out today

The decrease is the result of the citywide Full Statistical Revaluation, which increased Rochester's net assessed valuation to $5.1 billion, up by $2.3 billion from 2023. (Courtesy photo)

ROCHESTER - The Finance Department for the City of Rochester will mail tax bills today, with payments due 30 days from the mailing date, according to a statement released by the city on Monday. Interest will begin accruing on unpaid bills starting Jan. 31.

The Department of Revenue Administration has finalized Rochester's 2024 tax rate at $14.85 per thousand dollars of property value, according to City Manager Katie Ambrose. The rate represents a significant reduction of $10.89 from the prior year's rate of $25.74. This decrease is the result of the citywide Full Statistical Revaluation, which increased Rochester's net assessed valuation to $5.1 billion, up by $2.3 billion from 2023.

The 2024 municipal tax rate breakdown is as follows:

• City: $4.36
• County: $1.65
• Local Education: $7.70
• State Education: $1.14
• Total Tax Rate: $14.85

Ambrose emphasized that this revaluation has stabilized tax rates and reflects significant growth in Rochester's net assessed valuation. An analysis report on the 2024 Full Statistical Revaluation will be shared with the City Council in the near future.

• 2024 DRA Tax Rate Memo from the Finance Department
• Revaluation Memo from the Assessor's Office