The 2013-14 State Budget provides more than $1 billion in tax relief over three years for middle-class families to make up for the value of child tax credits eroded by inflation and continues the lowest personal income tax rates in 60 years.
2013 State Budget increases VLT aid by 22 percent from prior year
Host communities for Batavia Downs will receive $112K more
Albany, N.Y. – State Senator Michael H. Ranzenhofer has announced that three Batavia Downs host communities will receive a 22 percent increase in Video Lottery Terminal (VLT) aid as part of the 2013-14 State Budget.
In mid-January, Governor Cuomo unveiled his Executive Budget proposal for 2014-2015. Now, the budget review and approval process is in full swing.
Many of the tax relief proposals outlined in the State of the State address were outlined in greater detail, including a two-year freeze on property taxes, lowering business taxes, eliminating taxes for Upstate manufacturers, and accelerating the phase-out of the utility tax. As I mentioned in my column last month, these proposals may have the potential to continue chipping away at New York’s high tax burden. However, closer examination is required.
Albany, N.Y.– New York State has an on-time budget for the fourth consecutive year. Senator Ranzenhofer has issued the following statement on some of the details of the 2014-15 State Budget:
“I am pleased that the final State Budget includes many of my key priorities: fiscal discipline, tax relief, and funding for our schools. Overall, this fiscal plan is balanced and responsible, while providing victories for taxpayers, small businesses, manufacturers, and our children.”