May 24
2024
Buffalo back on top in race with Amherst
Housing prices as well as downtown and waterfront development help boost city's taxable value, but Amherst isn't far behind.
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Back in 2000, the value of taxable property in Amherst eclipsed that of Buffalo. It was believed to be the first time that had happened and raised questions about the city’s fiscal health.
By 2015, Amherst growth was slowing as Buffalo’s picked up. In 2021, fueled in part by rising housing prices, as well as downtown and waterfront investment, Buffalo’s tax base edged ahead. The most recent figures peg the 2023 value of Buffalo’s taxable property at $15.3 billion, compared to Amherst’s $14.5 billion. We should note, however, that Amherst inches closer each year.
