Friday, April 19, 2024 | St. Lawrence County, NY
By ANDY GARDNER MASSENA -- The town board is considering a tax break program identical to one in the village that reduces taxes on new construction of mixed use commercial-residential buildings. …
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By ANDY GARDNER
MASSENA -- The town board is considering a tax break program identical to one in the village that reduces taxes on new construction of mixed use commercial-residential buildings.
Property owners who commit at least $10,000 to convert a commercial building to mixed use commercial-residential could be eligible for a 12-year partial tax abatement.
The village law would give an 80 percent tax break on the new construction, which would go down in increments to 20 percent in year 12.
“It’s a little different than the exemption we have for commercial properties,” Village Assessor Mike Ward told the Town Council when explaining the tax break.
“We have to draft a local law, set a public hearing, then vote on it,” Town Supervisor Joe Gray said.
If passed, it would cover the entire Town of Massena.
