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RENOVATION HELP IN THE TOWN OF UNION

WBNG News 09.03.2010 14:20
RENOVATION HELP IN THE TOWN OF UNION - US - renovation - homeowners


Town of Union, NY (WBNG Binghamton) People in the Town of Union looking to upgrade their homes can now take advantage of a special tax break.



t's all part of the Home Improvement Exemption.

Usually if you put an improvement or addition on your home, your property taxes rise.

But those renovating in the Town of Union will now be exempt from those additional taxes for the first year.

After that, they will pay 12.5% of the total tax each year.

For example, if the renovation raises your taxes by $1,000, you won't pay any of that for the first year.

The second year, you'll pay $125.

And $250 in the third year.

Town leaders say it will benefit the entire community.

" So it's a big. big deal for trying to get our community to look better, and for people to save on taxes, and it's a win win for everybody."said Councilman Frank Bertoni.


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