The 2022 appraisal for this house on Southwest Avenue was $460,500, which represents an increase of 58 percent ($168,600) from 2021.
The town council has passed a resolution to establish a program that would support sustainable residency for people struggling to make ends meet in Jamestown.
The resolution was passed unanimously by the councilors at their March 6 meeting. According to the resolution, the council is aware the financial cost to maintain a residence in Jamestown has “increased dramatically,” with properties “in some cases doubling and tripling in value over a short period of time.”
Residents on fixed incomes, the resolution says, have been “increasingly stressed financially” to maintain their residence due to increased property taxes from the uptick in property values. Following review and discussion of these hardships, the council finds that financial assistance to families in need of tax relief “is warranted and needed.”
The resolution establishes the “Jamestown Sustainable Resident Program” with the intent to provide tax relief to income-eligible residents.
The resolution tasks the committee on affordable housing to review “contemporary methods and programs to accomplish the objectives.” They also should forward proposed rules, application forms and assistance criteria to the council within 90 days.