Brown budget targets property tax, wage freeze

[steven]

Calling it a road map to the city's fiscal independence, Buffalo Mayor Byron Brown released his proposed 2007-2008 budget that calls for property tax reductions and opens the door for removing the four-year-old wage freeze for unionized city employees.

The $418 million budget, which Brown delivered Tuesday afternoon, is one that "combines prudent fiscal management, targeted investment for economic growth and quality of life," he said.

Under Brown's proposal, which must be reviewed and approved by the Buffalo Common Council and Buffalo Fiscal Stability Authority in the next three weeks, calls for the average property tax rate to be reduced by 7.5 percent with the city making up the difference through full property assessment.

If Brown's plan holds up, the average homeowner with a residence valued at $100,000 will save $97 on their property tax bill.

"Lower property taxes are one way to stimulate the economy," said Janet Penksa, Buffalo finance director.

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[WNYresident]

How can they lift the wage freeze while when looking around buffalo there are so many infrustructure repairs that are needed? They are never going to learn why other cities in other states are eating our lunch.

[Genoobie]

The reason other cities are eating our lunch is because of the advent of cheap AC which helped the south explode. Add to that the expense of developing brownfield (thanks to our beloved lawyers and EPA) and you might a clue as the why other cities are eating our lunch. I know the high prop. taxes don't help but tax savvy companies can probably get combined breaks that equal other states benefits.

Regards

[4248]

Question : If you own a home in the City that was assessed at $48,000.00 then they reassessed it to $64,000.00 - what kind of a break in your tax bill will you get with the Mayors "New Plan" ?

Now , if I own a $250.000.00 home that wasn't re-assessed - what kind of reduction would I get ?