By Lindsay Press
Governor Kathy Hochul recently signed into a law a bill sponsored by Assemblyman Tommy John Schiavoni (D-Sag Harbor) that will allow the Town of Southampton to enact a Homestead Exemption for its homeowners, as well as other towns.
This new law amends a chapter in last year’s state law authorizing the town to enact a Homestead Exemption. Under the amended law, towns with a population of 69,000 to 69,500 will now be allowed to put the exemption in place. In addition, property owners can exempt up to $50,000 of the property’s full value, instead of its assessed value.
To be eligible, the owner must obtain the form from the tax and finance commissioner’s office, fill it out and submit it to the town assessor before town taxes are due.
Schiavoni said this bill needed to be passed to address the housing affordability crisis in the town.
“This exemption … will assist families and individuals to address the challenges of affordability in this area,” said Schiavoni, who previously served as a town councilman and member of the Zoning Board of Appeals.
Citizen Advocate Ryan Horn noted that, over the past 20 years, Southampton has “undertaken a multi-pronged approach to offset the scarcity of local affordable housing.” This meant “the creation and re-creation of the Town’s Housing Office; changes to the accessory apartment law in the Town Code; and strategic partnerships with” organizations such as the Southampton Housing Authority, Southampton Business Alliance, Habitat for Humanity, and the Long Island Housing Partnership, “to name a few.”
This has resulted in the creation of “over 100 rental units and residents for ownership to qualifying applicants,” Horn said. “The past two years have also given the Town access to new tools such as the Peconic Bay Region Community Housing Fund, which will allow for the generation of even more housing opportunities on the East End.”
— Additional reporting by Hank Russell