The New York State Senate on Thursday, passed legislation, (S.6212a) co-sponsored by Senator John Bonacic to provide a “Circuit Breaker” to families in New York State who pay a higher than average share of their income in property taxes.
The New York State Senate on March 18, 2003, passed legislation, (S.6212a) co-sponsored by State Senator John Bonacic (R/I/C - Mt. Hope) to provide a Circuit Breaker to families in New York State who pay a higher than average share of their income in property taxes. People buy a home under the presumption that their income can sustain the home, and also sustain tax increases at the rate of inflation. This legislation would provide some relief for families whose income has not sustained, or whose taxes have exceeded the rate of inflation.
State Senator John J. Bonacic (R/I/C – Mt. Hope), is urging the Governor to call the special Legislative session and force a vote on the school property tax cap in the State Assembly. The State Senate has repeatedly passed a school property tax cap.
Attorney General Andrew Cuomo has proposed a 2% tax cap on school property taxes – which Senator Bonacic supports. The NY Post has reported that Assembly Speaker Sheldon Silver is open to supporting a tax cap – but only if Cuomo is elected Governor.
State Senator John Bonacic (R/C/I – Mt. Hope), today said the State Senate has passed legislation (S.2706) which would enact Governor Andrew Cuomo’s school property tax cap legislation for schools and local governments. In addition, the Senate passed legislation (S.2707) to ban new unfunded mandates.
“Governor Cuomo heard statewide what we in the Hudson Valley and Catskills have known for years – property taxes are chasing people from our State. The special interests may oppose a property tax cap, but overwhelmingly, when asked, taxpayers support it.”
Senate Republicans have a long history of fighting for property tax relief for hardworking homeowners and their families. We created the original STAR school property tax relief program, led the fight for passage of the two-percent property tax cap, and initiated the STAR rebate check program, which was eliminated by Democrats in 2009.
While we look forward to discussing the specifics of Governor Cuomo's proposal when he unveils his entire Executive Budget, it is essential that any enacted property tax relief plan ensures all middle-income families in every region of the state receive property tax relief.