While thousands of Southampton Town residents saw the assessed value of their properties plummet in the wake of last year’s deep nationwide recession, steep increases in assessment for many residents have highlighted the dichotomy of the East End real estate market—and borne out the shortcomings of the town’s annual assessment process put in place in 2003.
Most hamlets west of the Shinnecock Canal saw an overall collective decline in property value, ranging from just 1 percent in Westhampton, Speonk and Remsenburg to 6 percent in East Quogue, 7 percent in Flanders and Riverside, 8 percent in Hampton Bays, and more than 10 percent in Eastport. Some scattered individual properties in those areas, primarily along the waterfront, did experience increases, and the Village of Quogue saw an overall climb in its assessed... more
Most hamlets west of the Shinnecock Canal saw an overall collective decline in property value, ranging from just 1 percent in Westhampton, Speonk and Remsenburg to 6 percent in East Quogue, 7 percent in Flanders and Riverside, 8 percent in Hampton Bays, and more than 10 percent in Eastport. Some scattered individual properties in those areas, primarily along the waterfront, did experience increases, and the Village of Quogue saw an overall climb in its assessed... more
