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Editorials
As a resident of the Town of Lancaster, I have been a proponent for revaluation when the process if fair and when every property owner pays their fair share of taxes based on property market value.
Being a townhouse homeowner, paying Association fees for private services not provided by the town, while at the same time paying full town, county and school property taxes, I have actively pursued ways of preventing developers from coming into our town and perverting Condominium Law 339-y by building stand alone patio homes that look exactly like single-family homes and get 40 percent tax breaks.
Until a few years ago, there were but a few buildings getting 339-y consideration and they were multi-story and multi-unit structures with common walls. I had written about and supported Legislature bills that never made it to the floor that would have reformed this perversion over the past several years.
Amherst seniors have voiced that taking away their tax rebate would impact their ability to remain in their homes. Yet I have heard from other seniors and those interested in purchasing patio homes that they were told by the builders and/or realtors that they could afford to buy more house for their money because their taxes would be lowered by 339-y tax break consideration.
Developers are using 339-y as a marketing tool; a tool that places other developers not seeking 339-y status at disadvantage and association homeowners like myself who pay for services not provided by the town and who also pay full property taxes but do not receive tax breaks.
Until recently I have heard of no Albany bill that would reform 339-y and satisfy those currently receiving tax breaks (grandfathered), those that would receive them in the future and for those locked out of the system because “no conversion” ordinances were instated by municipalities in the 90’s to block existing associations with like circumstance from receiving due consideration.
Municipalities should give tax breaks to associations based on association costs to provide services not provided by the town.
Although a 40 percent tax break may be justified for homeowners residing in true condominium developments, four stories or higher and sharing common walls, same tax break percentages for units priced above $200,000 more than not offsets the costs of the services not provided for by the town, oft times paying for their full association fees and then some.
A patio home valued at $300,000 in Lancaster would be taxed at approximately $9,000. With a 40 percent tax break, the assessment is reduced to $180,000 and the taxes paid would now be $5,400, or a reduction of $3,600, or $300 per month – which far exceeds the cost of services not provided for by the municipalities, the full association assessment fee and for part of the mortgage.
Municipalities and their Assessors who advocate property tax fairness based on property market value are well aware of the unfairness of 339-y and have petitioned Albany numerous times for reform. Unfortunately, Albany and reform is an oxymoron!
It would only be fair to give associations who likewise pay association fees to cover private costs for services not provided by the town and who do pay full property taxes to get like percentage tax breaks.
Fairness implies assessments are based on property market value. 339-y fairness should have as its intention that all share in tax breaks based upon association costs of services not provided by municipalities.
Make it fair! All associations paying for private services not provided for by the town should receive tax credits based solely on association fee percentage that provides for services not provided for by the municipality.
© Copyright 2008 by Speakupwny.com
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