Tax breaks to developers and widespread ownership of buildings and land by tax-exempt governments, nonprofits and churches means almost half of parcels pay reduced or no property taxes. It’s contributing to Buffalo’s budget woes.
The Delaware North building, recipient of major tax breaks. Photo by J. Dale Shoemaker.
The City of Buffalo last fiscal year missed out on $20 million in revenue due to a variety of property tax exemptions and abatements, according to a recently released audit.
That’s the biggest loss the city has recorded since it began tabulating the figure in 2017, city financial audits show…