Implement incentives for new homebuilders and restoration of existing properties
A OPINION by Jesse Wilson, Wellsville
Allegany County home sales have increased over the last five years, which has increased the tax base. Despite that increase in real market value, the county still must consider raising taxes. Instead of increasing taxes there needs to be a focus on drawing money into the County by other means such as:
- Bringing people out of bigger cities like Buffalo and Rochester to build homes in the area instead of bringing in campers that don’t contribute to the tax base.
- increased population and building would generate more property taxes
- local business would see increased traffic in their establishments which would increase the sales tax base.
- On newly constructed homes there should be a five, even ten year property tax cap of $5,000 total annual property tax. The size of the home is not important as long as it is built using local Allegany contractors and building material suppliers. No mobile homes or glorified sheds, building permit required. 3% maximum increase in assessed value per year
- If there aren’t enough licensed contractors in Allegany County to meet the housing demand outside contractors could qualify if they paid a fee and agreed to only source materials from Allegany County suppliers.
- Anyone who owns or buys an older home in need of renovation in the County and puts $50k into needed renovations the home will get a 25% decrease in property taxes and no more than a 3% yearly increase after that. There must be a noticeable improvement (with receipts) to the home and its exterior appearance.
Allegany County has passed a law allowing them to raise property taxes on a lot of people who are working and supporting the local community, but who can’t afford to pay any more in taxes. If you keep raising taxes you will effectively be pushing good tax paying residents out of the County or into the social welfare system you are struggling to pay for now.
I believe if the county can implement incentives for new homebuilders and restoration of existing properties that will produce results. By building new homes and reducing blighted homes, the county can increase the tax base and not need to raise property taxes.
Allegany County is a beautiful place to live, but we need someone to step up and fight to bring the people, the industry, and the money back to it.
Jesse Wilson is a retired real estate developer and has been a Allegany County property owner for 25 years. He loves the area and thinks that many others would invest and build if the opportunity presents itself.
