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Councilmember introduces property-tax circuit breaker resolution to protect long-term low-income homeowners
Summary
A councilmember proposed a citywide property-tax circuit breaker to limit tax burden for long-term, low-income homeowners and asked the administration and state representatives to study feasible designs and fiscal effects.
A councilmember introduced a resolution asking the City of Buffalo to study a property-tax circuit breaker to protect long-term, low-income homeowners from disproportionate tax increases after the council approved an 8% property-tax levy increase.
The proposer told the finance committee the circuit-breaker concept would cap property-tax liability relative to household income and apply on a sliding scale so lower-income households…
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