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Month: February 2020

Feb 2020

Appraisers are Valuable Resource in Property Tax Appeals, Appraisal Institute Says

When appealing their property taxes – which can be among their largest annual expenses – homeowners should consider hiring an experienced local appraiser who can help navigate the process, the nation’s largest professional association of real estate appraisers said today. “Homeowners should know that when errors are made in how local governments calculate a homeowner’s …

Feb 2020

New data shows Buffalo area is ideal for millennial homebuyers

New data shows the Queen City is becoming more attractive to young people. Last spring, data collected by the National Association of Realtors showed 42% of homes in the Buffalo-Niagara Falls-Cheektowaga areas are affordable for millennials. One reason given has to do with wages and mortgages. The association said people are making more money while …

Feb 2020

From funeral home to Taco Bell in South Buffalo

A longtime South Buffalo funeral home could be destined to become… a Taco Bell restaurant. A developer and architect from Kansas – working with Rochester project manager Ray Trotta of Holland Trotta Project – are proposing to replace the former Quinn-Amigone Funeral Home at 184 Abbott Road with a new quick-service restaurant and drive-thru. They’re …

Feb 2020

Plans unveiled for 65 apartments at Richardson Olmsted Campus

The next rehabilitation on the Richardson Olmsted Campus will consist of 65 moderate-income apartments in two historic buildings. Savarino Cos., the developer of the apartments, which are connected to the eastern wing of Hotel Henry, gave the community its first glimpse of the preliminary plans Thursday at a meeting at nearby SUNY Buffalo State. There …

Feb 2020

Tonawanda approves tax break criticized elsewhere

The City of Tonawanda will begin to participate in a program that offers lucrative tax breaks for mixed-use projects but critics say is too easy for developers to manipulate. The Common Council recently adopted the state’s 485-a property tax exemption. Supporters say the program encourages construction of residential and commercial space in vacant or little-used …

Feb 2020

City of Geneva begins property revaluation

The city’s property revaluation project has begun. A revaluation of property values is normally done every three to five years, and the goal is to create “fair and equitable values of all properties, based on current market trends.” The city said assessments are an “estimate of the current market value of your property as determined …

Feb 2020

Legal action and threats entangle Hampshire project review in Mamaroneck

A contentious proposal to develop housing at Hampshire Country Club in Mamaroneck has already resulted in one lawsuit and more legal action could be looming. Hampshire Recreation LLC is turning to the courts to compel the village Planning Board to push ahead with a process that would determine whether developer Dan Pfeffer can build 105 …

Feb 2020

Schenectady veterans call for adoption of school tax exemption

Dozens of Schenectady veterans attended Wednesday’s city school board meeting to urge the board to adopt a tax exemption that benefits veterans who own homes in the city at the expense of other taxpayers. The veterans, some of whom addressed the board directly in public comments, implored the school board to approve a tax exemption …

Feb 2020

Jim Cramer: Here’s why malls in America might not be dead after all

CNBC’s Jim Cramer said he’s rethinking his negative view toward the fate of American shopping malls following Monday’s announcement that Simon Property Group was buying rival Taubman Centers in a $3.6 billion deal. “I came away saying, I guess I’m just too negative on the thing I’m most negative about … the future of the …

Feb 2020

Experts: More Gen Zers than Millennials Will Own Homes

The U.S. homeownership rate for 35- to 44-year-olds has fallen from 66% to 60% since 2009. Economists and real estate experts surveyed by Pulsenomics and Zillow most often expect the homeownership rate among this age group to increase by 2035, when the oldest Gen Z members will turn 40. Panelists often agree that preference to …

Feb 2020

Riley County Counselor adds USA 383 to growing list of backers on dark story theory legislation

The Manhattan/Ogden USD 383 Board of Education unanimously approved a resolution Wednesday in support of House Bill 2498 in the Kansas Legislature. The proposal would exclude hypothetical leased fee when determining fair market value for real property. Big box retailers commonly use the appraisal practice, commonly known as the “dark store theory,” referring to a …

Feb 2020

Gordon Biersch closes at Walden Galleria

Another bar and restaurant has closed it doors at the Walden Galleria, after nine years. Gordon Biersch Brewery Restaurant has closed. A call to the restaurant on Sunday evening went unanswered and the restaurant’s Facebook page has been taken down, but its closure was confirmed by a mall employee. News outlets in Hawaii also reported …