Another senior property tax rate cut may be coming

Buffalo, N.Y. (WBEN) - A reduced property tax rate for eligible senior citizens may be cut even more.

The Erie County Legislature, led by Amherst lawmaker Jeannie Vinal, is considering a proposal that could see senior citizens who earn less that $45,000 annually may be eligible for a property tax rate cut of 65%, while senior citizen households whose annual income is $50,000 or less may be eligible for a 50% reduction in their property tax rates.

Vinal said the new reduced rates would be the first the county has offered since 2018.

"Seniors have already paid enough," Vinal said.

Erie County has been offering varying forms of property tax rate reductions for eligible seniors - those in the low-to-moderate income brackets - since the early 1960s.

The current reductions would be added to already existing property tax rate cuts for seniors who qualify because they are veterans, disabled or volunteer firefighters - among other examples.

"This would be an add-on," Vinal said.

Vinal estimates, in enacted, the new round of property tax reductions would serve two main pirposes.

First, it would allow seniors to remain in their homes.

"Nobody wants to see senior taxed out of their homes," Vinal said.

Second: By cutting a combined $7 million in property taxes, it would add more discretionary dollars back into the economy.

"It puts new money back into the economy," Vinal said.

Already in the legislature's pipeline, the proposal will be reviewed by the county lawmakers Finance and Management Committee and the brought back to the legislature in mid-to-late September for a formal vote.

If approved, the reductions would take effect on Jan. 1.