Cuomo launches property tax relief website
ALBANY Gov. Andrew Cuomo is pushing for his plan to cut property taxes in New York with the launch of a “no excuses” tax relief website Wednesday.
The website, CutPropertyTaxes.ny.gov, features Cuomo’s plan to implement a two-year property tax freeze and circuit breaker over the next few years using a projected $2 billion budget surplus.
The property tax freeze is expected to save nearly 700,000 homeowners an average of $565 by the second year of the freeze. The circuit breaker will also provide a refundable tax credit against the personal income tax, which is expected to benefit more than 2 million homeowners.
“Every year, passing our agenda has depended on New Yorkers getting involved, picking up the phone and making their voices heard,” Cuomo said in a news release. “Today we are encouraging all New Yorkers who are tired of paying too much in property taxes to join our effort to lower property taxes this year.”
Cuomo is pushing local governments statewide to create a plan to share services and consolidate. He said the expenses of the state’s 10,500 local governments are the cause for high property taxes.
The website provides state residents with information on the tax relief plan along with the option to contact local legislators, sign up for emails and submit personal stories regarding high property taxes.
Cuomo’s property tax cuts are part of his tax relief plan to also cut business taxes in the state, which includes reducing the corporate income tax rate from 7.1 percent to 6.5 percent and eliminating the corporate tax rate for upstate manufacturers.
The $2 billion tax relief proposal in the 2014-15 budget requires approval from the state Legislature by the start of the fiscal year on April 1.