October 30, 2009

Legislators Iannello, Reynolds Call for a County Tax Abatement Law for Home Improvements

Legislators Michele M. Iannello (D) Kenmore and Legislator Robert B. Reynolds (D) Hamburg introduced a resolution today calling for the creation of a County Tax Abatement Law which would provide an exemption of taxes for capital improvements to residential homes. "This law will encourage residents who want to make renovations on their homes more affordable," stated Iannello. "Property owners take a double hit when capital improvements occur. Not only are the improvement costs involved but assessments and taxes to their property rise accordingly," added the Legislator.

The resolution calls for Erie County, as a taxing jurisdiction, to enact a law that would exempt significant residential capital improvements costing between $3,000 and $80,000 on a decreasing scale. A 100% exemption on the improvement costs the first year would be followed by a 20% decrease in the exemption until full assessment takes place after five years. This would apply to single homes and two family homes only. Normal maintenance and repairs would not qualify.

"The long range benefits far outweigh the short term exemption. When you take into consideration the construction costs for labor involved, the materials involved and the affect on the adjacent properties, there is no question it is a positive for the neighborhoods of Erie County," stated Legislator Reynolds. Recently, a similar law was enacted by the City of Tonawanda Common Council in an attempt to improve the quality of housing stock.

"Erie County, suffers from many older neighborhoods with young families and such a law would offer a great opportunity for them to improve or enlarge their homes as their families grow. It is a pro-active measure to encourage people to remain in Erie County," said Iannello

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