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Month: December 2019

Dec 2019

New York’s super-rich migrating south for better value

Quitting New York is making financial sense for many of the city’s super-rich. Analysts say a growing number of New York’s financial elite believe that fleeing the city for other states with lower taxes and costs in order to protect their wealth is a total no-brainer — particularly since the 2019 UBS/PwC Billionaires Report found …

Dec 2019

No SALT cap? House panel OKs repeal of $10K limit on state, local tax deductions

A House committee advanced legislation this week to phase out a $10,000 cap on state and local income and property tax deductions — a key provision of the 2017 tax law approved by Republicans in Congress and signed by President Donald Trump. The bill sponsored by U.S. Rep. Tom Suozzi, a Long Island Democrat, would …

Dec 2019

2 new retail buildings going up in Syracuse area

Syracuse, N.Y. — If you’ve been to the Shop City plaza lately, you’ve no doubt noticed the new building going up near Tops. It’s the future home of the Fish Cove, the fish market currently located in a different section of Shop City, which is at the corner of Grant Boulevard and Teall Avenue. The …

Dec 2019

82 new affordable units are slated for Peekskill. Find out when and where

Editor’s note: We don’t want to leave you hanging. “What’s up with” is designed to update our previous coverage and keep you up-to-date on important projects around the Lower Hudson Valley.  Project: Eighty-two apartments at 645 Main St., Peekskill, by developer Wilder Balter Partners. They will be for households at 40% to 80% of Westchester County’s …

Dec 2019

There’s no winter cool-down for Buffalo Niagara housing market

Not even the traditional winter slowdown is taking the steam out of the local housing market. Prices keep rising at a moderate pace. Fewer homes are for sale. And homes continue to sell quickly, according to new data from the Buffalo Niagara Association of Realtors. • The median sale price in November rose to $160,000, …

Dec 2019

Trade deal could boost Buffalo Niagara auto plants, dairy farms

WASHINGTON – President Trump spells his new trade deal with Canada and Mexico “USMCA” – but for Western New York’s auto workers, farmers and business people, it spells relief. For those people and countless others nationwide, the U.S.-Mexico-Canada Agreement that Trump and his rival Democrats agreed upon this week will end three years of anxious …

Dec 2019

Falls City Council splits on property tax increase

The Falls City Council made one last change to Mayor Paul Dyster’s proposed 2020 budget Wednesday night and the city’s spending plan for the new year is now complete. The council, by a vote of 4-1, with Council Member William Kennedy in opposition, modified a 2 percent property tax increase that was contained in a …

Dec 2019

2020 Real Estate Outlook: Expert Predictions For Mortgage Rates, Home Prices, Tech And More

The 2019 housing market has been one of low rates, high demand and limited supply—particularly on the lower-priced end of the market. Will 2020 be more of the same? According to experts, yes and no. We spoke to six mortgage, real estate, and housing professionals. Here’s what they say is in store for the year …

Dec 2019

What to Watch for When the City’s Property Tax Commission Finally Issues Its Report

“To be the fairest big city, you need a fair tax system. For too long, New York City taxpayers have had to grapple with a property tax system that is too opaque, too complex, and just feels unfair,” Mayor Bill de Blasio said in May 2018 after announcing the creation of a commission to examine …

Dec 2019

City says home assessments are up all over, market is hot

ROCHESTER, N.Y. (WROC) — The city’s assessing properties to gauge increases in values to estimate the 2020 city and school taxes and 2021 county taxes. “Rochester is home to one of the hottest real estate markets in the nation,” says Justin Roj with the City of Rochester. “Home assessments are up in every single neighborhood …

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