The builders defend the tax law which gives respite to the owners of condos; critics seek to close ‘unfair’ loophole | Local News
Condos are typically located on smaller lots, sometimes but not always in the form of party-wall townhouses. The developers say they’re appealing to empty nesters, the elderly and others who don’t want all the burden of ownership and prefer someone else to take care of the upkeep, even if they are. they have to pay hundreds of dollars a month in association fees.
Without condominium status and the resulting tax savings, these residents could leave the area, said Marrano, whose condominium developments include the upscale community of Greythorne near Williamsville.
âIf you can provide them with that type of housing, they will stay in your community, which I think is good for everyone,â he said.
The Buffalo Niagara Association of Realtors recorded 8,000 condo sales between 2010 and 2020 in the eight counties of western New York State.
âWe promote it as real estate agents when we sell these properties,â Dan Locche, director of government affairs for the organization, said of the tax break. However, he said of condominium buyers, “At the end of the day, you pay for these services one way or another.”
There are approximately 135 condominium communities in Erie County, said Erik Finbar, West Seneca assessor and president of the Erie County Assessors Association.
In Amherst, there are about 5,000 condos among 35,000 owner-occupied homes in the city, said Assessor David Marrano, a cousin of Patrick Marrano. âAmherst is by far the highest concentration of these,â he said.