Assemblyman Al Stirpe (D-Cicero) announced that legislation he sponsored to allow certain villages to create a tax exemption for newly constructed single- and multi-family residential properties has passed the Assembly (A.5987-C).

“It’s more important than ever that we take smart and effective steps to encourage growth in our communities that will last for years to come,” Stirpe said. “That starts with making the best use of our land and bolstering efforts to reinvigorate local infrastructure. Bringing more homeowners into our communities will help create more sustainable neighborhoods, improve the local economy and further fuel our state’s recovery.”

For several years, Stirpe has championed this legislation to encourage smart growth in Central New York communities. If enacted into law, this bill would allow certain villages to provide a five-year property tax exemption for eligible residential properties, starting at 25% and decreasing by 5% each year.