Property taxes increase

Local News

ALBANY, NY – A report released from the New York State Comptrollers Office this week shows property tax collections increased 2.4 percent this year from 2018.

NewsChannel 34’s Corina Cappabianca has more on what it means for your wallet and the economy.

More than 36 billion dollars in property taxes were levied this year by localities.

School districts were the biggest piece of the pie.

((Stephen Acquario, NYSAC Executive Director))
This report is a way for the public to understand where their property tax is coming from and where are they going to.

The report also shows that housing values are going up, especially in Western New York.

((Stephen Acquario, NYSAC Executive Director))
That’s a very important indicator because that means there’s more economic activity in that particular region of the state, jobs, places where communities have invested in the infrastructure.

Property values in Erie, Oswego and Columbia counties have increased by more than 10 percent from 2017 to 2019.

((Stephen Acquario, NYSAC Executive Director))
The values of those homes go up and taxation will rise with the increase in value of these properties without the government increasing the rate.

Counties levied about 6 billion dollars of property taxes for 2019.

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