The Yonkers City Council held a meeting Tuesday night to discuss the potential re-evaluation of all city properties aimed at recalculating tax bills.

After discussing the proposal Tuesday night, council members decided to postpone their vote on the controversial plan, which will allow property owners and community members to weigh in on the topic.

If the re-evaluation plan goes forward, a new tax value will be assigned to every one of 36,000 homes and commercial business for the first time in 55 years. The process is expected to take three years and cost approximately $5 million.

City Council President Chuck Lesnick says Yonkers cannot wait any longer. He estimates that one-third of properties will see an increase in taxes, one-third will remain the same and one-third will see a decrease.

"Re-evaluation doesn't add the amount of money that we get from our taxpayers," he says. "It just changes the way the pie is sliced up so it?s more fair."

Mayor Phil Amicone called for a countywide re-evaluation in his State of the City address last May.

"It really does need to be done on a countywide basis so that Yonkers isn't put at a disadvantage to other municipalities in Westchester,? says Amicone?s spokesperson David Simpson.

Simpson adds that Yonkers loses millions of dollars every year in tax settlements from property owners who challenge their tax bills and re-evaluation would correct the problem.