Members of the Oswego County Legislature’s Community and Consumer Affairs Committee will consider a resolution that would provide a property tax exemption to homeowners who make capital improvements to residential properties.
The committee will consider the matter during Thursday’s meeting,
which is generally held Wednesday but had to be moved due to a nuclear
According to an informational memorandum submitted by Legislator Dan
Farfaglia, the resolution would bring back a program that expired
several years ago, however, few residents took advantage of the program.
The proposed law would give residential homeowners the opportunity to
make improvements in excess of $30,000 for a 100-percent exemption on
the increase in the assessed value attributable to the reconstruction,
alteration or improvements for the first year and for the following four
years on a sliding scale basis.
The exemption would be limited to $80,000 in increased market value of the property. POST