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In the News

Oct 2019

Buffalo News Editorial: Guaranteeing unfairness in Cheektowaga

Cheektowaga residents probably realize that they don’t get off scot-free when town officials cancel a reassessment. That’s what town leaders did, claiming they were worried about the impact on low-income and senior citizen residents. But to property owners who understand that long periods between reassessments creates imbalance and inequity, the decision is likely to smack …

Oct 2019

Did you get your tax rebate check yet? Here’s how many still haven’t hit mailboxes

ALBANY – If you didn’t get your property tax rebate check yet, don’t worry. The state is still sending hundreds of thousands more. Since August, more than 1.4 million tax relief checks have been mailed to New York homeowners whose income was less than $275,000, according to the state tax department. Separately, 390,000 checks have gone to …

Oct 2019

Survey Results Are In: Seniors Housing Sector Optimism Pervades, Again

Are seniors housing executives bracing for a bubble, or do they see continued opportunity? The answer may be both, but the majority of owners and operators are not entering slowdown mode quite yet. KEY LEARNINGS: Seniors housing and healthcare executives are cautiously optimistic about the year ahead. An overwhelming majority of owners expect increased deal …

Oct 2019

Borrowers jump on board the refinance bandwagon as rates drop

When mortgage rates plummet to historically low levels, you have to expect a reaction from the borrowing public. And, as usual, they did not disappoint. Borrowers got themselves to their loan reps and began taking advantage of the market. According to the Mortgage Bankers Association (MBA), the volume of mortgage applications rebounded sharply last week as homeowners …

Oct 2019

Staten Island and Queens have the highest retail vacancy rates in NYC

New Yorkers know the empty storefront phenomenon all too well, as myriad factors—the rise of online shopping, higher rents, and the like—lead to disappearing mom-and-pop shops and neighborhood stores across the five boroughs. Two months after the City Council passed a new bill to create a database to track retail vacancies, a new study by …

Oct 2019

New York City apartment prices hit four year low

Manhattan apartment sales tumbled during the third quarter and prices fell to their lowest level in four years, a Wall Street Journal analysis showed. Much, but not all, of the decline was triggered by a higher state transfer tax on luxury Manhattan real estate that took effect in July, brokers and market analysts said. To …

Oct 2019

Buffalo Mayor endorses Council proposal offering property tax relief to some seniors

Mayor Byron W. Brown has endorsed a plan to provide tax relief to some lower-income senior citizens who may be impacted by the city’s reassessment. “I want to thank Council President Darius Pridgen, who worked with my administration on this, for introducing the local enabling legislation and I urge the Common Council to pass it …

Oct 2019

Buffalo homeowners and Property Tax Coalition fight for lower property taxes

Buffalo homeowners and renters voiced their concerns to the Buffalo Common Council Thursday night over an increase in property taxes following the city’s home value reassessment . “Our taxes went up 250%, so we have a tax bill that’s gone from $1000 to $2500,” said a nine year Oxford Avenue homeowner. Over one-third of people …

Oct 2019

Overhaul Syracuse’s unfair property tax assessments (Editorial)

Painstaking reporting by Michelle Breidenbach and Tim Knauss shows just how unfair Syracuse’s property tax assessments have become. The city isn’t keeping up with rising property values in wealthier neighborhoods and falling property values in poorer neighborhoods. The result is that high-end homeowners are paying less than their fair share of property taxes – a …

Oct 2019

Investigation finds wide gap in Syracuse property tax assessments

Dear subscriber, If you’ve owned a home in Central New York for a while, you’ve likely at some point received that dreaded letter in the mail, notifying you that your assessment is going up. If you’ve lived here a while you probably know we have among the highest property taxes in the country, but it …

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