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Business

The rush to prepay estimated property taxes at the end of last year led to a flood of cash for municipalities, but also some headaches. Staff in Amherst and Clarence had to issue hundreds of refunds weeks later after precise tax debts were calculated. Local towns and villages took in millions of dollars in advance payments in late December, as several thousand taxpay…

Business

To claim or not to claim. That is the question for several thousand Western New Yorkers who prepaid their 2018 property taxes in December, hoping to be able to deduct them from their taxes on their 2017 returns, using the old rules. The prepayments had to be made by Dec. 31, 2017, in order to qualify at all, so it's too late to do so now if you haven't already. But w…

Business

Many M&T Bank employees will see more money in their paychecks, a boost the bank attributes to the federal tax overhaul. M&T is joining companies including Walmart and Apple in raising wages or handing out bonuses to employees, citing the tax legislation as the driving force. But to some observers, a tight labor market is the real motivator for employers' genero…

Business

Small to mid-sized business owners generally feel good about where the economy is headed, but are still reluctant to invest more in their operations, according to an M&T Bank survey. Fifty percent of the respondents to the survey said they expected the economy to improve in the next six months, and 55 percent expected the recent tax overhaul to have a positive i…

Business

Western New York's largest business group once again plans to focus its lobbying efforts on core issues familiar to its members: the high cost of doing business in the state, the need for more trained workers and the importance of encouraging investment in the region. The Buffalo Niagara Partnership Wednesday released its advocacy agenda for 2018, highlighting the chall…

Erie County

City of Tonawanda Mayor Rick Davis' $22.3 million budget proposal went into effect Tuesday -- after the Common Council failed to adopt an alternative budget. Davis' 2018 budget calls for an increase in property taxes of 4.99 percent, which would raise taxes nearly $90 per year for an average home. The Council held a public hearing on the budget Nov. 8, but had publis…

Erie County

Calling the state tax cap "totally unrealistic," Mayor Rick Davis unveiled a 2018 budget Tuesday that would raise property taxes in the City of Tonawanda by 4.99 percent. That would be more than two and a half times the state tax cap. The tentative budget of $22.32 million proposes a tax rate of $18.63 per $1,000 of assessed valuation, up from the current rate of $17…