LAKE PLACID, N.Y. (WCAX) – Some homeowners in New York’s North Country could see a tax reduction next year.
The village board in Lake Placid approved a measure that will lower the assessed value of homes for those with disabilities and who have limited income. The mayor says this is already the case for other groups, like veterans, volunteer firefighters and seniors.
He says the income threshold is capped at roughly $37,000, with the reduction amount on a sliding percentage scale.
“It’s the maximum that we can do. It is a help in this case with the disabled and limited income. We are hoping the school and town will also follow suit with the village, which would mean you get that off of all three taxes and that’s when it really starts to add up and really be a savings,” Lake Placid Mayor Art Devlin said.
He says they hope to have the changes made into law within the next few weeks.
If you’d like to apply, you’re encouraged to reach out to the assessor’s office.