tax credit

Local developers have been watching Washington carefully, as Republicans in the two houses put together their tax bill, with potentially devastating effects on local development.

WBFO's Mike Desmond

Gov. Andrew Cuomo is blasting the Trump Administration's federal tax proposal, saying it will cost New Yorkers more than $17 billion.

New York State has set up a website for taxpayers who thought they were eligible for the Family Tax Relief Credit of $350  - but didn't receive a check. 

Natale Builders

A bill has passed in the Senate that aims to increase the number green homes built in New York State. The bill would give municipalities the power to grant a tax exemption to have a green home built in their locale.

Increased preservation tax credit closer to law

Jun 19, 2012

The State Assembly has passed legislation that increases the tax credit for historic preservation projects. 

The bill, co-sponsored by Assemblyman Sean Ryan, raises the available credit from $5 million to $12 million. 

The credit has been used successfully to restore and renovate older buildings, like the Hotel Lafayette in downtown Buffalo.  Supporters say increasing it will create greater incentive for developers to bring aging structures back to life.