Senator Fuschillo Announces New Property Tax Relief Plan
Senator Charles J. Fuschillo, Jr. (8th Senate District) today announced his support for a plan to triple the size of last year’s property tax rebate program, which would result in approximately $700 in savings for Long Islanders with Basic STAR and $1,100 for local seniors receiving Enhanced STAR in 2007. The plan also establishes a Blue Ribbon Commission to make reforms to help reduce property taxes.
"My number one priority remains delivering tax relief to our homeowners," said Senator Fuschillo. "Last year, the State Legislature enacted several tax saving measures to return surplus funds to the taxpayers. As we begin a new year, I will continue to fight to deliver savings to Long Islanders."
The new property tax relief plan includes:
TRIPLE PROPERTY TAX REBATE CHECKS -- REBATE PLUS
The Rebate Plus plan would triple the current rebate program across the state in 2007 and would approximately quadruple it in 2008. Under the expanded Rebate Plus plan, in 2007 the rebates would average $700 for Long Islanders with Basic STAR and $1,100 for Long Islanders with Enhanced STAR.
In 2006, rebate checks for Long Islanders averaged approximately $240 for Basic STAR recipients and $400 for Enhanced STAR recipients.
The program will be funded using the state’s budget surplus.
Blue Ribbon Commission on Property Tax Reform
The Senate’s property tax relief plan would establish a Blue Ribbon Commission to examine and make recommendations on specific areas of reforms for local governments and school systems with the goal of reducing the property tax burden in New York State.
The Commission will report at the end of calendar year 2007 on a reform plan for schools and local governments to lower local tax burdens with a focus on enhanced accountability, alternative financing methods, governance options, property assessment plans, and tax containment policies. The Commission would also be charged with examining possible alternatives to the real property tax for funding schools and changes to the property assessment system.
The new property tax relief plan will build upon the tax saving measures the state initiated last year. These include the elimination of state sales tax on clothing and footwear purchases under $110; the capping and lowering of the state sales tax on gasoline; a personal income tax credit of $330 per child for parents with children between the ages of 4-17; and the elimination of the marriage income tax penalty.
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