Anyone know of any tax breaks on land? I bought some acreage a few months ago. The problwm is the taxes. I own land in 2 townships, but I bought it as one parcel of land. So each town charges me taxes. So I pay twice the county tax, twice the school tax to the same district. The land is wooded and used for recreation, hunting and timber. I dont nor never plan on living on it. What type of tax breaks are out there or what can I do to or with the land to get a little help. I use star and my veteran break on my house, so thats not an option. I am having the land reassesed. To hopefully knock a little off. Does anybody have any other suggestions, because I’m clueless.
http://www.google.com/search?source=ig&hl=en&rlz=&q=tax+accountant+buffalo+ny
I’m thinking you have one of those situations where you really need someone who knows the law…
me thinks you may need to split the parcel. I forget the terms for it… but you should def check in with a legal counsel.
+1 on talking to a real tax pro.
But my gut says you’re not going to catch any breaks. Yes, you’re paying in two districts, but you should be paying about half as much in each district as you would pay to one district if all the land was within it’s boundries.
For example using some made up numbers…
10 acres, 5 in cheektowaga, 5 in amherst, 2k in taxes to both.
10 acres, all 10 in amherst, 4k in taxes to amherst.
Right?
The taxes are just based on a percentage of the value of the land so as long as there isn’t some mistake in the paperwork allowing each township to claim 100% of the land in their figures (something I wouldn’t put past the various NY local governments) it should work out.
thats how it should be. it sounds like each town has assessed the parcel at its total acreage, and is charging him based on the total. but thats not right.
you should talk to a lawyer or property tax person.