Property tax relief is on the way for some seniors and people with disabilities.
The Common Council on Tuesday approved a resolution that amends the Real Property Tax Law to increase the income eligibility thresholds for property tax exemptions. The resolution was submitted by South Council Member Christopher P. Scanlon to address rising costs of living that have burdened seniors and people with disabilities living on fixed incomes, Scanlon said.
About 350 elderly, longtime homeowners in the City of Buffalo will be getting property tax relief – while city lawmakers begin discussions with the state to expand the exemptions citywide to other seniors who meet the criteria. With the 2020 citywide property tax revaluation, many are concerned the rise in property values may lead to steep increases when the
Under the new amendment, the maximum income eligibility for seniors to obtain a real property tax exemption will increase from $29,000 to $50,000, as of July 1, 2022. This change will be applied to the taxable status date of Dec. 1, affecting the fiscal year 2024-2025.
An estimated 4,100 additional properties could be eligible for property tax relief, officials said.
Additionally, the amendment raises the maximum income ceiling for qualifying for the 50% level of…
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