Press release:
Assemblyman Steve Hawley (R,C,I-Batavia) today announced that a bill he introduced to provide tax incentives to renovate "zombie" properties in the City of Batavia, A.7570-A/S.5196A, was passed by the Assembly and Senate on Thursday.
The legislation establishes a program giving property-tax assessment incentives to residents of Batavia who purchase and renovate dilapidated single-family properties. The program, if successful, could be allowed in other cities statewide.
“I was pleased to have had the opportunity to work with Senator Ranzenhofer to ensure that this legislation passed both houses before the end of session,” Hawley said. “Zombie properties have plagued Batavia for years and this is a monumental step toward addressing the issue. Residents who purchase these dilapidated properties will be given a property-tax exemption to help alleviate the financial burden of repairs made to the home.
"This will ensure that home renovation costs do not exceed property value. Also, the legislation protects against large real estate companies buying many properties and subdividing them into apartments or multiple-family dwellings. The bill will now be sent to the governor for his signature. If it receives his approval the program will take effect immediately.”
Senator Michael Ranzenhofer carried the bill in the Senate and Hawley applauded his efforts and said he is pleased to have worked with him.
“By spurring redevelopment of vacant homes, this innovative program will help to benefit all taxpayers," Ranzenhofer said. "For prospective home buyers, it will provide a real incentive to make costly repairs to a distressed home. For neighbors, it will make their street a better place to live and prevent their home values from being depressed.
"For all taxpayers, it will help to dilute the burden of property taxes by adding more properties with higher valuations to the tax rolls,” Ranzenhofer said. “I am hopeful that the Governor will sign it into law.”
