Senator John Flanagan (2nd Senate District) announced that the New York State Senate has passed major property tax reform legislation that will alter the property tax structure throughout New York State and provide needed relief for residents. The main component of this legislative package is the possibility of the complete elimination of residential school property taxes in school districts that vote to phase out property taxes over five years, with revenue replaced with additional State funding.
"The number one concern that taxpayers on Long Island have is their ever-increasing tax burden. This program is a dramatic step in our fight to provide the relief that our families and our seniors need and it is a step we must take now," stated Senator Flanagan. "In the past few years, I have fought for property tax rebates, increased aid to our schools to lower the burden on our homeowners and for other tax relief measures but now is the time to take a dramatic step to reform our entire tax system."
The New York "Stop Taxing Our Property" Reform Plan (NY-STOP) would:
"State mandates place an unfair burden on our taxpayers and this legislation will help to fix this inequity," added Senator Flanagan. "This entire package is aimed at relieving the pressure that school taxes place on the homeowners of our state and is a true overhauling of our current system. The time has come to stop taking small steps in providing piecemeal relief. This Senate proposal provides critically needed broad sweeping changes that protect our taxpayers while maintaining educational excellence."
The entire package was sent to the Assembly for further action.
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