MAMARONECK After heavy opposition from condominium owners over a provision which could have more than doubled their taxes, the Town Board unanimously decided against the so-called “Homestead Option” after a public hearing tonight.
The measure would have allowed the town to assess condominiums the same way it does single-family homes. Officials had been considering it as part of an ongoing community-wide revaluation of of properties.
According to a presentation by GAR Associates, hired by the village to conduct the revaluation, the median assessed value of a single family homes would go up from $845,000 to $913,000, or by 8 percent.
For condominiums, the median would go up from $193,000 to $299,000. If the homestead option were adopted, that assessment would have gone up by 150 percent, to $505,000.
Condominium residents at the hearing, many of them senior citizens, said the measure was unfair and that it would make living in town unaffordable.
About 650 of the town’s 1,000 condos would have qualified for homestead status, the majority of which, about 400, are located in the Village of Mamaroneck.
Nikica Rendic, a resident of Harbor Hills Condominiums, said her taxes would have more than double if the provision was adopted.
She said she bought a condo in the town to have a 4-year-old son have access to good schools.
“If the homestead option is adopted, my taxes will go up by 150 percent, and I would have to 99 percent sell my condo,” she said during the hearing.
Arnie Berger of the Carlton House Condominium read a letter on behalf of residents there.
“The senior citizens on fixed income and any significant increase in taxes would result in a financial hardship,”he said.
According to state law, no formal vote needs to held if the homestead option is not being adopted.
In deciding to abandon the homestead idea, Supervisor Nancy Seligson said it would “benefit those who otherwise would not be able to afford to live here.”