Eliminate the Property Tax's Investment Penalty

[Matthew.Ricchiazzi]

Mayor Byron Brown's Administration has used property reassessments to penalize homeowners for doing precisely what we want them to do: to invest in their homes, thereby rebuilding our neighborhoods. Rather than penalizing them into perpetuity with a higher and higher tax bill, a Ricchiazzi Administration will make reassessments illegal -- allowing the city to tax only a property's last transacted value.

Homeowners will have an incentive to invest in a renovation, to build out an addition, or to add a unit -- without being penalized with a higher tax bill. Established neighborhoods will become wealthier and property values will increase.

Newer homebuyers will have the incentive to purchase a fixer-upper in a transitional neighborhood, where property values are quite low and where they would enjoy the lowest possible tax bill, for the long term. Blighted neighborhoods would transform more quickly, welcoming new residents and an untold value of sweat equity.

Suburbanites, sick and tired of high property taxes in their respective municipalities, would have the incentive to relocate inside the city.


The current tax system is prone to abuse by politicians, like Mayor Brown.

Brown claims to be reducing property tax rates, which he pays for with property reassessments (the victims of which often claim the reassessments are intended to punish political opponents). In the end, homeowners end up with bigger tax bills and the politicians can claim to be "reducing property tax rates" (per thousand dollars of assessment value).

He thinks he can continue to spend more and more money, with fewer and fewer people here to pay for it, all the while claiming to have held the line on taxes.


It's time to eliminate the property tax's investment penalty.



ChangeBuffalo.org/taxes

[joe d.]

Council Prez Rich Fontana...just pushed thru a law that no longer allows a non owner occupied property owner to dump an annual 1 ton refuse for free, at the Ogden st dump...we/non occupied owners pay the same amount of user fee that a owner occupied homeowner pays, yet now we are discriminated from being able to utilize this service ...another reason not to bother with property investment/ repairs in the city..rather small minded legislation...among other headaches of investing or owning in the city of Buffalo. Amazing that the rest of the common council would agree to this knowing much of the city's properties need repairs and this just adds to the cost of doing so, along with lenghty permit process.

[Genoobie]

First of all, what is owner occupancy in the city? Something like 30% at most.

Secondly, blighted areas could attract investment, but people would not relocated because of "saftey" concerns which is really code for racism. Although there are certainly high nuisance and high petty crime areas.

I'm not disgreeing with the plan, but the predicted outcomes are not likely.

Remember, people moved out because there were too many of "them". Whoever "they" happened to be. This is why first ring suburbs are also on the economic decline and 2nd ring burbs have increasing property values and to some extent city core neighborhoods are also already on the rebound, without the tax incentive.

[gorja]

Originally posted by Genoobie: First of all, what is owner occupancy in the city? Something like 30% at most

42.6% http://quickfacts.census.gov/qfd/states/36/3611000.html http://www.bizjournals.com/buffalo/n...=image_gallery

[Genoobie]

Yes, reported rates are probably higher, but that's probably for tax purposes, etc. I would guess occupancy aroun

[4248]

I don't see how you can blame the current Mayor for a system that is used throughout most of New York State and values aren't "Invented" by the administration.

By using this gimmick - you also lock down city tax income - you'll have to make it up some where - where and how would you do that?

Mr Matthew.Ricchiazzi with rising costs of City Services - where would you make up the needed revenue ?

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I see this proposal easier to manipulate than the standard assessment revue process. Yes, in some area's you might spur investment - but that would be a small percentage when looking at blighted areas.

The real advantage for "Frozen Assessments" would be actually for the more affluent owners - those with money can purchase a marginal property - rehab it and still pay the past assessment. The "Cash Front Deals" would flourish - this is where the buyer and seller agree to a "Cash Consideration" as partial payment - the upfront cash holds down the recorded transaction price.

Last point you can freeze the cost of property taxes - but how can people living on fixed income or working/under employed afford to pay for upgrades?

Thanks
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Interesting idea - but blaming the Mayor is counter productive and not factual - stress you solutions and explain how you will accomplish them in plain common sense English.

[Matthew.Ricchiazzi]

Mr Matthew.Ricchiazzi with rising costs of City Services - where would you make up the needed revenue ?


I want to make it as difficult as possible for the government to raise your taxes.

[PWolf]

An interesting way to address penalizing people for investing in their properties is to adopt a system of taxation where land is taxed more than buildings. This method has been done successfully in Pennsylvania and other areas. See the links below for more information:

http://blogs.ubc.ca/rosonluo/2013/04...cation-policy/

[4248]

Mr Matthew.Ricchiazzi with rising costs of City Services - where would you make up the needed revenue ?


I want to make it as difficult as possible for the government to raise your taxes.

Sir, that wasn't even close to an answer - are you running on the idea Mayor Brown is a bad guy - or do you have any actual plans that show you can do better ?

Your saying you want to hand cuff Government - at the same time you say you want to be that handcuffed Government

[LuvinBuffalo]

I went to Mr. Ricchiazzi's website, and it is certainly encouraging to read the information there. Maybe there IS a light at the end of the tunnel after all........................

[leftWNYbecauseofBS]

Yes, reported rates are probably higher, but that's probably for tax purposes, etc. I would guess occupancy aroun

You're correct. I know of several teachers who call Amherst home but keep a place in the city for their job.

[WNYresident]

I went to Mr. Ricchiazzi's website, and it is certainly encouraging to read the information there. Maybe there IS a light at the end of the tunnel after all........................

I believe the Reps already endorsed someone else though.

[4248]

Personally, grew up in Buff - I still own a house and pay taxes there.

I am not taking a "Political" or Party stand here - I have family,relatives and friends who live in Buffalo. I work in Buffalo.

If a candidate can show us how they can "Achieve savings" or "Stabilize property taxes" - thats what matters.

I don't vote against someone because of race , religion or Party. I vote for candidates who have a reasonable plan that can be presented in a factual/attainable manner.

I can't vote in Buffalo - but my family and friends do - my rental property is in a high traffic area - great sign location.

Last point - I personally believe Mayor Brown has done well. He has suffered every arrow thrown his way - they even attacked his sexuality - there is nothing his own party hasn't done to try and derail his admin.

Has he made mistakes - yes - has he fired people who didn't do their jobs - yes - has he held the line on taxes - yes. Has he held a tough line on tax funded contracts - yes - is he perfect - no he's human.

Finger pointing isn't showing any creative solutions

[leftWNYbecauseofBS]

Last point - I personally believe Mayor Brown has done well. He has suffered every arrow thrown his way - they even attacked his sexuality - there is nothing his own party hasn't done to try and derail his admin.

Has he made mistakes - yes - has he fired people who didn't do their jobs - yes - has he held the line on taxes - yes. Has he held a tough line on tax funded contracts - yes - is he perfect - no he's human.

Finger pointing isn't showing any creative solutions

I would not go as far as to say Brown has done well.

For most of his time in office he has had a control board to play the bad cop. In the areas where he does have control, he has made many mistakes. The only reason why he continues to get elected is due to his support by Grassroots.
His connection or 'debt' to Grassroots was on display with the Karla Thomas fiasco. Her audacity in response to her utter incompetence was the result of her strong support in the grassroots organization.

He's not a leader in any way, shape or form. He is a pulpit puppet...as demonstrated by his love for the PR game.

[4248]

Again, I respect your opinion - when did you leave WNY?

Grassroots support - is there also a problem in your mind with this "Political Group"?

I also believe the lady in question - Karla Thomas - wasn't she relieved from that position ? I believe so !

So, if you could explain how any other candidate would be better ? Which "Plan for fiscal Reform" do you support and why?

Throwing blame and misinformation - guilt by implied association doesn't equal a viable solution.

Thanks.