Why Are People So Obsessed With Assessments?

When buyers see a property listing in Livingston County or around Conesus Lake, one number always seems to catch their eye: the assessed value. Because it’s stamped on tax records and easy to look up, many assume it’s the most accurate measure of a home’s worth.

But assessments are not the same as market value. If you’re searching for homes in the Finger Lakes or Greater Rochester, relying on assessments can leave you with a distorted view of what a property is actually worth.

Why Buyers Focus on Assessments

  • They’re easy to find: Most towns in western New York publish them online.

  • They look official: Because they come from the assessor’s office, people think they’re definitive.

  • They simplify the process: With so many variables in a real estate transaction, an assessment feels like a shortcut.

Why Assessments Miss the Mark

Assessments exist for one reason: to calculate property taxes. They’re not designed to reflect real-time market behavior.

  • Outdated cycles: Some towns in the Finger Lakes haven’t reassessed in years, so numbers lag far behind today’s values.

  • Generic formulas: Assessments often apply blanket ratios that can’t account for updates like a renovated kitchen or a premium lake lot.

  • No buyer psychology: Assessments ignore cash offers, bidding wars, and emotional value that drive real transactions in hot markets like Conesus Lake.

Examples That Tell the Story

A lakefront home assessed at $425,000 years ago may sell for over $575,000 today after updates and rising demand. On the flip side, a dated colonial in Geneseo assessed at $500,000 may struggle to bring in $440,000 because buyers factor in the cost of needed repairs.

The disconnect is clear: assessments don’t equal true market value.

What Buyers and Sellers Should Actually Look At

  • Comparable sales: Recent sales in Rochester suburbs, Geneseo, and Livonia give the most realistic benchmark.

  • Market conditions: Conesus Lakefront homes don’t behave the same as inland properties.

  • Professional appraisal: Ordered by lenders, appraisals measure current value with real data.

  • Local expertise: A team working daily in Livingston County and the Finger Lakes knows what homes actually sell for, not what tax records suggest.

Bottom Line

In markets like Conesus Lake, the Finger Lakes, and Greater Rochester, assessments are at best a loose reference point. True value is driven by what buyers will pay today, supported by comps, appraisals, and expert strategy.

If you’re buying or selling, don’t obsess over the assessed value. Focus instead on the real drivers of valueand lean on professionals who live and work in these markets every day.