Binghamton Home Improvements Could Come with Tax Break
8/26/2013 (Updated 10:51:07 PM)
If you live in Binghamton, you could get a tax break if you fix up your home.
Legislation pending in City Council would allow people to make home improvements without having to immediately pay increased assessments connected to those projects. The assessments would increase in 20 percent increments over five years until the full value takes affect. The city council member sponsoring the legislation sees this as a way to motivate people to stay in their homes.
"This is one way to incentivize people to stay in the area--if they can improve their home. A lot of people like their houses. They really don't want to move but if they've outgrown them or if they want to make improvements, this is one way they can stay there," said City Councillor Chris Papastrat.
City Council will vote on the legislation September 4th.
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