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Hearing today on North Tonawanda tax breaks
Updated: August 21, 2010, 3:13 AM
NORTH TONAWANDA — A public hearing will be held today in City Hall on a proposal to give tax breaks for owners who turn commercial buildings into multiple-use properties.
The proposed law, already approved by city lawmakers, would give property tax breaks for 12 years for improvements worth at least $10,000.
Under the proposal, the entire value of the improvements would be kept out of an assessment for the first eight years. In each of the next four years, assessments would increase by 20 percent of the value of the improvements.
In the 13th year, the property would be fully assessed.
The proposal was introduced by First Ward Alderman Dennis M. Pasiak and Third Ward Alderwoman Nancy A. Donovan. It passed the Council by a unanimous vote Nov. 3 and has been supported by Mayor Lawrence V. Soos.
The measure allows city residents to get the break on both their county and city taxes and had to be passed locally for the county exemption to become available. The Niagara County Legislature passed the measure in April.
“Many of our old neighborhoods are beginning to show real signs of wear and age,” Pasiak said in a statement, “and if we don’t take steps to help landowners improve their properties, then North Tonawanda may begin a real slide.”
Donovan said the measure, which requires commercial and residential uses for a property considered nonresidential, encourages owners to make improvements without initially penalizing them for doing so.
“This law will encourage building owners to help us fight blight by making their properties more appealing without fear of an increase in their assessment,” Donovan said.
City officials have said they believe the law could go a long way in helping several areas in the city, including sections of Oliver Street.
Niagara Falls already has enacted a similar measure.
Today’s public hearing will begin at 5:30 p. m. in the Common Council Chambers in City Hall, 216 Payne Ave.
Under city law, the mayor’s office holds a public hearing after the Council enacts a measure.
The law will become effective once it is filed with the state Department of State.
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