Buffalo Mayor Proposes Record 9% Hike in Property Taxes: What It Means for Residents and Businesses

Buffalo residents may soon find themselves facing a hefty increase in property taxes as Mayor Byron Brown introduces his proposed budget for the upcoming fiscal year. Under this plan, the city’s property tax levy would surge by a record 9%, marking the highest increase during Brown’s tenure. This uptick translates to an additional $14 million in property taxes collected, with both homeowners and commercial property owners feeling the pinch.

The mayor attributes the need for these increases to various factors, including rising costs in health insurance, pension obligations, and increased debt as a result of legal settlements. Additionally, investments in essential services like snow removal during winter storms contribute to the necessity of these tax hikes. While the proposed increases are significant, Brown argues they are vital for maintaining the city’s positive trajectory, emphasizing improvements in affordable housing, economic development, and public safety.

Commercial property owners are set to bear a larger burden, with a steeper increase in tax rates compared to residential properties. Moreover, fees for services like garbage collection and quality of life violations are also on the rise. Despite the substantial hike, Brown defends the move, asserting Buffalo’s competitiveness in terms of tax rates compared to neighboring municipalities. As the budget proposal undergoes further scrutiny, residents await the outcome, bracing themselves for potential impacts on their wallets and the city’s future.

Ryan experts are available to answer questions regarding this new proposal.