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Council to study property tax “circuit breaker” aimed at protecting low‑income homeowners
Summary
Council members discussed a proposed property tax cap (referred to as a ‘circuit breaker’) intended to protect low‑income and elderly homeowners from tax increases tied to revaluation; members raised questions about who would bear the cost and whether a cap or rebate is preferable.
Majority Leader (name not specified) told the Buffalo City Council that item 94 would go to the finance committee to evaluate a property tax cap intended to protect low‑income and generational homeowners from being taxed out of their homes.
“It's to evaluate in a a way to protect those most vulnerable homeowners, from being taxed out of their homes,” Majority Leader said, explaining the proposal would use census data, age and income to…
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