RealEstateRama Laws & Taxes
Tom Reed was joined this afternoon by the superintendents of the Gowanda, Lake Shore, Salamanca and Silver Creek school districts to announce that those four districts will collectively receive more than $6 million in Federal Impact Aid in 2016. Impact Aid compensates local schools for “substantial and continuing financial burden” resulting from federal activities such as when Native American populations and activities adversely impact the local tax base. This is why aid is available to these school districts.
Closed home sales in New York State jumped 7.1 percent in November 2015 compared to last November, reaching the highest total for the month in six years, according to the housing market report released today by the New York State Association of REALTORS®. Key housing market measures including median sales price and pending sales also grew in November
Standing outside of SolarCity’s new solar panel manufacturing site currently under construction in Buffalo, Congressman Brian Higgins (NY-26) discussed the recently approved extension of the Solar Investment Tax Credit (ITC) and the impact it will have on Western New York
The Dutchess County Legislature completed the 2016 county budget process last night with the adoption of the 2016 County Property Tax Levy. The final adjusted county property tax levy for 2016 is down more than $1.5 million dollars from the 2015 county property tax levy. This is a larger tax levy reduction than originally anticipated and will result in an even greater property tax rate reduction for taxpayers in 2016.
Congressman Brian Higgins (NY-26) announced details of a federal tax credit and funding package, set for consideration by the House of Representatives this week, which includes provisions to bolster Western New York’s position as a leader in biomedical and solar industries.
Congressman Paul Tonko (NY-20) this week continued his campaign to advance renewable sources of energy in asking Speaker of the House Paul Ryan and House Minority Leader Nancy Pelosi to include in a year-end tax extender package key priorities related to the Solar Investment Tax Credit (ITC)
Congressman Brian Higgins (NY-26) spoke on the House floor to urge Congress to extend the Solar Investment Tax Credit (ITC) as part of the Tax Increase Prevention and Real Estate Investment Act 2015. The bill seeks to promote economic growth by extending tax provisions that have expired or will expire in the near future. Higgins, with Rep. Richard Hanna, also led on a bipartisan letter sent to House leadership calling for the extension.
Attorney General Eric T. Schneiderman, Governor Andrew M. Cuomo, and Mayor Bill de Blasio, joined by Commissioner James S. Rubin of New York State Homes & Community Renewal (“DHCR”) and Commissioner Vicki Been of the City’s Department of Housing Preservation and Development (“HPD”), announced today that 128 landlords receiving lucrative tax benefits under Section 421-a of the New York Real Property Tax Law are now registering 1,823 market-rate apartments across New York City as rent-stabilized
LSNYC is gratified that the New York City Council and Mayor de Blasio have given New York City tenants new protections against aggressive "buy-out" practices used to force tenants out of their homes
Tax Incentive Allows Businesses, Residents, and Municipalities to Install Solar Panels; However, They Only Receive These Benefits Upon Completion of the Project; With New Installations Contemplated in Rose, Williamson, City of Rochester, Henrietta, and Parma, Uncertainty About Solar Tax Credit’s Future Could Hamper Growth of Burgeoning Local Solar Companies
The State Board of Real Property Tax Services will meet at 11:00 a.m. Wednesday, August 19, 2015. The meeting will be held in Conference Room A on the second floor of Building 9 on the W.A. Harriman State Campus in Albany.
The Erie County Department of Real Property Tax Service has announced it will be holding its annual seminar on how to purchase tax foreclosed properties. The seminar, titled “How to Purchase Tax Foreclosed Properties," will be hosted by the Director of Real Property Tax Services, Joseph L. Maciejewski and will offer insight into the foreclosure process as well as the procedure for purchasing these properties at the next tax foreclosure sale.
The New York State Senate today passed an end-of-session measure that will bring $3.1 billion in new tax relief to property owners, extend the existing property tax cap to deliver additional savings and create new jobs, improve affordable housing statewide, and continue the Senate’s ongoing commitment to ensuring that every child has access to a quality education.
At 10:00 last night, the Governor announced that the legislature had failed to extend New York State rent stabilization and rent control laws and that those protections for tenants would expire, at least for the next few days. The assumption is that the laws will eventually be extended, and that tenants will again be protected, but that there may be a short period during which the protections have ended
State Senator Brad Hoylman said: “Tonight, by allowing New York's rent laws to expire, State Senate Republicans are toying with the lives of more than two million New Yorkers. Rather than renewing and strengthening these important laws, my misguided Republican colleagues have passed phony ‘one house’ legislation that would fundamentally undermine the rent laws themselves
Assemblymember Didi Barrett (D-Columbia, Dutchess) announced the passage of legislation she authored that will ensure veterans of recent conflicts receive the property tax exemption they deserve. The bill specifically directs the Division of Veterans' Affairs to remind assessors that veterans of the Afghanistan and Iraq wars are eligible for the veterans alternative real property tax exemption
Attorney General Eric. T Schneiderman released the following statement today on New York City's expiring rent regulation laws
The state’s Office for People with Developmental Disabilities’ Finger Lakes Developmental Disabilities Service Office (DDSO) skirted state procurement laws for more than 1,400 purchases worth more than $1 million, gave one vendor an unfair advantage in obtaining the state’s business and overpaid for hundreds of household items
Sibley Building Currently Planning $200 Million Redevelopment, But Requires New Market Tax Credits to Move Forward on Plans – In Last Year’s “Fiscal Cliff” Deal, Schumer Secured Extension & Funding of NMTC
REALTORS from across New York State will travel to Albany on Tuesday, June 9, to show their support for an extension of the state’s successful property tax cap, which has helped make homeownership more affordable for both new and long-time New York homeowners.
Governor Andrew M. Cuomo today released a report (available here) detailing the success of the property tax cap in delivering tax relief for New York families and businesses. In addition, the Governor traveled to Nyack, New York in Rockland County to urge the State Legislature to extend the two percent property tax cap this legislative session.
Manhattan Borough President Gale A. Brewer and Council Member Rosie Mendez today celebrated Mayor Bill de Blasio's signature of Int. 222, legislation requiring landlords provide tenants with advance notice for non-emergency repair work that will result in disruptions to building services
The New York State Senate today passed legislation (S1074), sponsored by Senator Martin J. Golden (R-C-I, Brooklyn), that would increase the maximum income eligibility levels for real property tax exemptions for seniors for the first time since 1994. This measure would allow more senior citizens to receive increased relief from their local real property taxes.
A.G. Schneiderman Announces Settlement With Walmart Over Alleged Violations Of NYS Water Protection Law
Attorney General Eric T. Schneiderman today announced a settlement with Wal-Mart Stores, Inc. over alleged violations of a 2010 state law designed to reduce water pollution caused by excess phosphorus that runs off of lawns into New York waters. The Nutrient Runoff Law requires stores to display phosphorous-containing lawn fertilizers separately from those that are phosphorus-free, and post signs notifying consumers about the legal restrictions on using phosphorus-containing lawn fertilizer.
The New York State Senate today passed a bill to help control property tax increases by preventing large unfunded mandates from affecting municipal and school district budgets. The bill (S3144), sponsored by Senator Rich Funke (R-C-I, Fairport), would require the state to fund costly mandated programs or services, instead of placing the burden on local governments and property taxpayers