Some upstate homeowners could soon see a break on their property taxes, according to the Times Union. A proposed state bill would let certain municipalities offer up to a 10% tax exemption to residents who live in their homes year-round.
State Sen. Michelle Hinchey introduced the measure to help communities where short-term rentals and second homes have driven up housing costs. Eligible homeowners must use the property as their primary residence and qualify for the STAR school tax relief program.
The proposal mainly targets counties like Ulster, where vacation rentals have surged and many homes sit empty part of the year. Lawmakers are now reviewing the bill in the Senate Housing Committee.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].