Senator Bonacic Discussing Property Tax Relief and Reform
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. Far more needs to be done, but anything we can do to limit spending, and also provide immediate tax relief is a step in the right direction, Senator Bonacic said.