OSWEGO – The county will hold a public hearing on March 15 at 2 p.m. in the Legislative Chambers, 46 E. Bridge St., Oswego, in regard to proposed county Local Law #1 of 2018.
The proposal would amend Local Law #1 of 2015 regarding extending the Residential Building Capital Improvement Exemption pursuant to Real Property Tax Law 421-f.
The current legislation provides an exemption from taxes and special ad valorem levies for capital improvements to residential buildings within the county.
However, it is set to expire on March 12.
The amendment would extend the expiration date to March 1, 2028.
The exemption is an eight-year sliding scale for residential properties with eligible capital improvements.
Currently, 17 properties have been granted this exemption.
Also on March 15, the county will hold a public hearing regarding proposed Local Law #2 of 2018.
In 2009, the county adopted the Cold War Veterans’ Property Tax Exemption Act.
It created an exemption for Cold War veterans under Real Property Tax Law 458-b within Oswego County.
The proposed local law would amend it as follows:
Notwithstanding, the 10-year limitation imposed by the foregoing provisions of Section 5, Paragraph C, of this local law any exemption authorized by this local law shall apply to qualifying owners of qualifying real property for as long as they remain qualifying owners, without regard to such 10-year limitation.
Application for exemption shall be made by the owner, or all of the owners of the property on a form prescribed by the state subject to the terms and conditions set forth in Real Property Tax Law 458.b.
The local law may be repealed by the county. Any such repeal shall occur at least 90 days prior to the taxable status date of the County of Oswego.
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