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Drawing on limited prior research, it outlines CLT structure and reviews how individual assessors in New York address valuation without clear legislative or administrative guidance.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/research-report/","Research & Report",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/valuation-of-community-land-trust-homes-in-new-york-state/268511/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/valuation-of-community-land-trust-homes-in-new-york-state/268511.png","ImageObject",300,407,{"name":42,"@type":43},"Paura","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-09-19","2026-09-15",true,{"@type":52,"interactionType":53,"userInteractionCount":30},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"What property type does the article focus on for valuation?","Question",{"text":62,"@type":63},"The article focuses on owner-occupied, resale-restricted homes located on leased land through community land trusts (CLTs).","Answer",{"name":65,"@type":60,"acceptedAnswer":66},"Why is CLT home assessment described as difficult for assessors?",{"text":67,"@type":63},"The legal structure is complex, and comparable properties are scarce across most municipalities, limiting traditional comparison-based valuation.",{"name":69,"@type":60,"acceptedAnswer":70},"How can resale restrictions affect property tax outcomes?",{"text":71,"@type":63},"If resale restrictions are not reflected in tax assessment, homeowners may be taxed on values they do not actually own under the restricted resale rules.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},268511,1789431763,{"code":4,"msg":81,"data":82},"success",[83,87,91,95,100,105,110,114,119,122,126],{"id":22,"doc_module":4,"doc_module_name":25,"category_name":84,"show_sort_weight":85,"slug":86},"Story & Novel",90,"story-novel",{"id":26,"doc_module":4,"doc_module_name":25,"category_name":88,"show_sort_weight":89,"slug":90},"Literature",80,"literature",{"id":33,"doc_module":4,"doc_module_name":25,"category_name":92,"show_sort_weight":93,"slug":94},"Exam",70,"exam",{"id":96,"doc_module":4,"doc_module_name":25,"category_name":97,"show_sort_weight":98,"slug":99},5,"Comic",60,"comic",{"id":101,"doc_module":4,"doc_module_name":25,"category_name":102,"show_sort_weight":103,"slug":104},6,"Technology",50,"technology",{"id":106,"doc_module":4,"doc_module_name":25,"category_name":107,"show_sort_weight":108,"slug":109},7,"Healthcare",40,"healthcare",{"id":111,"doc_module":4,"doc_module_name":25,"category_name":29,"show_sort_weight":112,"slug":113},8,30,"research-report",{"id":115,"doc_module":4,"doc_module_name":25,"category_name":116,"show_sort_weight":117,"slug":118},9,"Religion & Spirituality",20,"religion-spirituality",{"id":117,"doc_module":4,"doc_module_name":25,"category_name":120,"show_sort_weight":117,"slug":121},"World Cup","world-cup",{"id":123,"doc_module":4,"doc_module_name":25,"category_name":124,"show_sort_weight":123,"slug":125},10,"Lifestyle","lifestyle",{"id":127,"doc_module":4,"doc_module_name":25,"category_name":128,"show_sort_weight":96,"slug":129},19,"General","general",{"code":4,"msg":81,"data":131},{"doc_id":78,"user_id":132,"nickname":42,"user_avatar":133,"doc_module":4,"category_id":111,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":30,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":123,"language":139,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":140,"faqs":141,"seo_title":142,"seo_description":12,"update_tm":79,"read_time":143},13056712833777,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","Valuation of Community Land Trust Homes in New York State  \nBy daVid WEst  \nThis material was first presented at the International Association of Assessing Officers’(IAAO) 77th Annual International Conference on Assessment Administration in Phoenix, Arizona, on September 21, 2011. The research was conducted through a grant by the Academic Partnership Program, which is administered by the IAAO Research Committee.  \nThis article examines assessment  \nof a rare but quickly growing typeof property—owner-occupied, resalerestricted homes on leased land. This property arrangement is facilitated by community land trusts (CLTs) in order to stabilize low- and moderate-income neighborhoods and to perpetually recycle the subsidy required to make home ownership affordable for low-income buyers. CLThome ownership differs substantially from other property interestsand merits specific consideration in the context of property assessment to ensure equitable taxation (Robinson 2008) .  \nThere is currently very little research on the topic of CLT home assessment, but CLTs and policy organizations, including the Urban Land Institute and the National Housing Conference, are calling for state-by-state examination of approaches used in assessing CLT homes (Davis 2006; Robinson 2008; Rosenberg 2010) . As a contribution to the wider research agenda and to help assessors understand CLTs, this article briefly describes CLTs and their national position and history and then examines the methods used by individual assessors in  \nNew York State, where, like many states, there is little legislative, judicial, or administrative guidance for valuing this type of property.  \nBackground  \nCLTs started in the United States in the mid-1980sand grew very slowly. However, during the last decade, both the number of organizations and the number of units managed has grown exponentially (Davis 2010) . The increasing importance of CLTs is evidenced by an official federal definition of CLTs in section 233 of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 12773). A critical mass seems to have been reached as the housing bubble and government austerity measures fuel the need to preserve home affordability and the need to stretch subsidy dollars used to develop affordable housing.  \nBy March 2010, 229 CLTs across 32 states were registered with the National CLT Network. The fastest growing CLT segment is organizations created in coordination with municipal housing agencies to protect units created through  \nDavid West is a master’s degree candidate in regional planning at the Department of City and Regional Planning, Cornell University, Ithaca, New York.  \nJournal of Property Tax Assessment & Administration • Volume 8, Issue 4 15  \ninclusionary zoning. In 2010, in response to a survey, 78 CLTs indicated they had developed a total of 1,193 units in the last 3 years and expected to develop another 1,372 units by 2012. One CLT in Irvine, California, has been funded to develop 10,000 units between 2006 and 2016.  \nAlthough the current number ofCLT homes is small, the effect of assessment methods on CLT homeowners is quite substantial. In his recent book, Shared Equity Homeownership, Davis (2006) describes the stakes with a hypothetical situation in which a low-income homeowner is sold a CLT home (assessed at $210,000) for $84,000 thanks to a government subsidy. Resale restrictions limit the future sale price to a percentage of the purchase price. Unless these restrictions are considered in tax assessment, 5 years after purchasing the home in a hot market, the owner could pay annual taxes on more than $200,000 of value he or she does not own.  \nThis problem is widespread. In Northern Virginia, Habitat for Humanity homeowners with resale restrictions are paying more in taxes than for their mortgage because the restrictions are not considered in assessment. This disparity represents an inherent contradiction between housing policy that is intended to create and pres","cbCaie7XLBeUxusp","https://ap.wps.com/l/cbCaie7XLBeUxusp","pdf",112686,"English","# Valuation of Community Land Trust Homes in New York State\n## Background\n## Overview of the CLT Structure\n## How CLTs Maintain Affordability","[{\"question\":\"What property type does the article focus on for valuation?\",\"answer\":\"The article focuses on owner-occupied, resale-restricted homes located on leased land through community land trusts (CLTs).\"},{\"question\":\"Why is CLT home assessment described as difficult for assessors?\",\"answer\":\"The legal structure is complex, and comparable properties are scarce across most municipalities, limiting traditional comparison-based valuation.\"},{\"question\":\"How can resale restrictions affect property tax outcomes?\",\"answer\":\"If resale restrictions are not reflected in tax assessment, homeowners may be taxed on values they do not actually own under the restricted resale rules.\"}]","Valuation of Community Land Trust Homes in New York State | PDF",25]