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In the News

Jun 2019

Developer seeks tax deal worth $7M for hotel at St. Joseph’s Hospital

Syracuse, N.Y. — The developer of a six-story, $25.2 million hotel and apartment building at St. Joseph’s Hospital Health Center has applied for a tax deal worth $7.2 million over 15 years. BWI Hotel Acquisitions 1 LLC, a subsidiary of RPS Holdings LLC, is seeking the deal from the Onondaga County Industrial Development Agency. The …

Jun 2019

Golf Course Property Tax Bill Is Not Likely to Pass

Legislation meant to allow higher tax rates on New York golf courses looks as though it will come up short this year. Still, the lawmakers behind it vow to try again with a revised version of the bill in 2020.  At a press conference held outside the bill’s highest profile target—Trump National Golf Club Westchester in …

Jun 2019

Home buyers in Capital Region on the uptick

CAPITAL REGION, N.Y. — Residential real estate buyers are beginning to return in full force this spring, a recent update from the Greater Capital Association of Realtors reported. “The competition is fierce for well-priced homes in desirable locations,” the report said. “As prices continue to gain traction the median sales price in the Capital Region …

Jun 2019

Buffalo is shrinking, Amherst is hot: What the latest census numbers tell us

Despite the mania around downtown living and Buffalo’s urban “revival,” the city continues to lose population to its suburbs, according to new estimates from the U.S. Census Bureau. The 2018 population numbers, which cover cities and towns, show contractions in Western New York’s very largest and very smallest places even as momentum grows in places …

Jun 2019

5 kitchens and a ‘fainting room’: Who’s building Syracuse area’s biggest mansion?

SKANEATELES, N.Y. – The biggest house in Onondaga County is nearing completion. After three years of construction on the western shore of Skaneateles Lake, builders are nearly finished with a mansion that makes many other mansions look cramped. How big is it? Eight median-size new homes could fit inside. The 19,070-square-foot residence includes three separate …

May 2019

Young homebuyers scramble as prices rise faster than incomes

SALT LAKE CITY — For millennials looking to buy their first home, the hunt feels like a race against the clock. In the seven years since the housing crash ended, home values in more than three-quarters of U.S. metro areas have climbed faster than incomes, according to an Associated Press analysis of real estate industry …

May 2019

GOP blocks move on ‘dark stores’

SOMERS — A decision to table legislation on the “dark stores” loophole Wednesday in Madison was not received kindly by some in the state capital or locally. The tax loophole allows big-box retailers to base their tax assessments on abandoned or shuttered stores, saving them millions of dollars in tax breaks and shifting the burden …

May 2019

Town Explains Property Assessment Protocols

MAHOPAC, N.Y. – It’s tax time again and town officials want to make sure you have the proper information on how your property was assessed this year and how you can challenge that assessment if you believe it is too high. Town assessor Glen Droese, and Dave Barnett, vice president and certified general appraiser for …

May 2019

STAR rebates in New York: Why tax assessors are ‘vehemently opposed’ to new changes

ALBANY – Tax assessors across New York are ripping a new state law that will mean homeowners earning between $250,000 and $500,000 a year will get a check for their STAR rebates rather than receiving an upfront savings directly in their school-tax bills. The measure was tucked into the state budget last month and is the sixth …

May 2019

Buffalo home prices keep rising

Median sale price in April rose 6.3% to $144,501 $160,000 2019 $144.501 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 1999 2002 2005 2008 2011 2014 2017 Change in price from the same month the year before. Source: Buffalo Niagara Association of Realtors Home prices aren’t rising as fast as they were during the late …