HelpContact UsFOILSite Map

Custom Navigation

Living in Tompkins County linkLearning in Tompkins County linkVisiting Tompkins County linkBusiness in Tompkins County linkTompkins County Government link

Capital Improvement Exemption Approved for Residential Properties

You are here:

You are here

> Capital Improvement Exemption Approved for Residential Properties


Injury from falling is a major risk for older adults and people with disabilities.  Click HERE to review information on how to prevent falls from the Office for the Aging.

The Health Department is providing flu vaccinations for adults at its building, 55 Brown Road, across from the Airport.  Call 274-6616 to schedule your appointment.  More information

previous next

Capital Improvement Exemption Approved for Residential Properties

Thursday, November 7, 2019

After a public hearing (no comments received), the Legislature adopted a new Local Law that enacts a new real property tax exemption for capital improvements to residential properties, under Section 421-F of New York State Real Property Law.  The vote was 12-2, with Committee Chair Michael Lane and Legislator Henry Granison voting no. 

The law provides for an eight-year exemption that phases in the increased value for capital improvements made to one- to two-family residential properties.  Such an exemption is already in place within the City of Ithaca and the Town of Dryden.  As he has previously, Mr. Lane said that, while the concept is very good in theory, he does not think many will apply for it, and he expects it will add a lot of work for the Assessment Department.