The Village of Spring Valley has adopted in the past a resolution providing property tax deductions for eligible first-time homebuyers, aimed at easing the financial burden for new homeowners in the village. Notably, this program is available not only to new purchases but also to qualifying homes bought before the program was adopted.
Under the new program, qualifying first-time new construction homeowners are eligible for a tax deduction that gradually decreases over five years. The deduction schedule is as follows:
- Year 1: 50% reduction
- Year 2: 40% reduction
- Year 3: 30% reduction
- Year 4: 20% reduction
- Year 5: 10% reduction
To qualify, applicants must meet specific income and purchase price criteria, which are detailed in the application guidelines.
An additional provision in Spring Valley allows first-time buyers who have renovated an existing home to qualify for this deduction, provided the construction begins within 90 days of the purchase and exceeds $3,000 in costs.
Applications must be filed by December 30th. For Spring Valley residents interested in applying, applications can be submitted to Kristen Padilla, the Village Assessor Clerk, at kpadilla@villagespringvalley.org, or by phone at (845) 352-1100 x193. Applicants are also encouraged to cc Deputy Mayor Yisroel Eisenbach at Yeisenbach@villagespringvalley.org or contact him directly at (845) 826-4639 for assistance.
For detailed eligibility information and to download the application form, visit the official link here.
Deputy Mayor Eisenbach has offered his personal assistance to any applicants needing guidance and can be reached via his provided contact information.
