His homeowner tax relief legislation incentivizes growth in Erie County's recovering housing market
State Sen. Marc Panepinto advocated for his tax relief legislation (S.3644) today before the Senate committee on local government, where he is the ranking member. After its unanimous passage, he released the following statement:
"As the ranking member of the local government committee, I am proud that my first piece of legislation passed addresses environmental responsibility and the crushing burden that is our property tax climate. By authorizing a green home tax exemption in upwards of 35 percent, the state not only encourages the use of renewable energy and resources, but delivers on incentivizing much-needed growth in Erie County's recovering housing market. I hope that the full Senate will consider the passage of this critical legislation."
S.3644 accomplishes the following:
•Establishes a green development home tax exemption for Erie County
•Authorizes a 35 percent exemption from local real property taxation for homes that are part of green developments as Leadership in Energy and Environmental Design-certified or certified by the National Association of Home Builders
LEED is a green building certification program that recognizes best-in-class building strategies and practices, developed by the U.S. Green Building Council (http://www.usgbc.org/LEED).
NAHB is a trade association that helps promote the policies that make housing a national priority.
Panepinto represents the 60th Senate District, which includes parts of the City of Buffalo as well as communities in both the north and the south towns of Western New York.