12/11/2009

Scaled Assesments in Erie County?

Posted by MJ

Buffalo News reporting it is a possibility. It has been discussed here before and this quote form the article sums it up well:

She said it's similar to the property tax breaks that go to businesses that expand, or the tax breaks that Erie County grants for investment in historic homes, a measure that passed with Republican support in 2002. "If the abatement is good enough for businesses, and it is good enough for historic buildings, then why isn't it good enough for residents who want to fix up their homes?" she asked Thursday.
I could see not finding this favorable in an already hot real estate market. But it would sure be beneficial to  distressed neighborhoods. It's tough enough justifying many improvement when other houses nearby are dragging down values. Its a double slap to be hit right away for stepping out on a limb to make things better.

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