Another “it depends”.
Snow that would close a Florida airport is barely noticed at, say O’Hare or St. Paul, MN, or, yes, Buffalo, NY. On a related note, slickness of the runway - due to snow, ice, rain, or anything else - can also cause major problems and different runways have different characteristics. For instance, some are grooved to provide better traction in slick conditions.
Winds are another factor - much above 45 mph as a crosswind is getting serious for anyone, and at a certain point operations have to cease.
Equipment - both on the airplane and on the ground - is also a consideration. There are some extremely sophisticated systems that, as mentioned, allow operations in almost zero visibility. However, if the airport is lacking those systems then the visibility limits are dictated by what equipment they do have.
Everyone thinks of cold and snow - but excessively HIGH temperatures can also effectively close an airport, most notably at high altitudes. Hot air is less dense than cold, and high altitude air less dense than low, and a combination resulting in very thin air can ground aircraft for the simple reason they become unable to generate the necessary lift to leave the ground.
Who flies there - different airplanes have different capabilities in regards to weather.
As a comparison - O’Hare airport in Chicago rarely closes (but when it does - boy, howdy, do people notice!). It has heavy equipment for snow removal, up to date de-icing equipment, various forms of radar and weather monitoring, a multiplicity of runways, and the most sophisticated instrument landing systems available today. My local airport, the one I fly out of, has much shorter runways (actually, it only has one), the “snow removal” consists of a plow on the front of a pickup, no de-icing equipment (other than a heated hangar and human elbow grease), we use the weather monitoring at another (nearby) airport except for windspeed and direction (we have that on the field), and our “instrument landing system” is the runway lights. We close a lot more often. But then, it wouldn’t make sense to upgrade - virtually all of the airplanes flying out of there are small and lacking in either anti-icing equipment or sophisticated instrument landing systems.
So… the most succinct answer (after all that) is that the decision is made based on safety issues - what’s a safe limit for the airplanes flying in and out, based on weather, airport equipment, airplane equipment, and other factors.