KINGSTON – Ulster County Tuesday night became the first county in the state to adopt a local law providing a 50-percent property tax exemption on its portion of the tax bill for eligible low-income homeowners who not otherwise be able to buy a home.
The homes would have to be sold by nonprofit organizations like RUPCO, Habitat for Humanity and the Kingston Land Bank, said Legislator Lindsay Grossman.
“It provides a meaningful lowering of the cost of home ownership for working families. As we all know, buying a house isn’t just the point and time in which you buy that house, it’s all about the annual cost, and this allows people to lower lost and stay in their homes for longer,” she said.
This exemption was created through a state law to allow counties, municipalities and school districts to provide property tax relief for qualifying permanently affordable homes.
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