Property Tax Relief

By WBNG News

July 22, 2010 Updated Mar 13, 2010 at 12:14 AM EDT

(WBNG BInghamton) Could some property tax relief be on the way in New York?

State Senate Republicans are proposing new legislation called the Homeowner Protection and Property Tax Rebate Act.

Under the plan, homeowners would receive a check equal to their 2008 STAR property tax rebate or receive a rebate based on their income, through a new property tax relief credit, whichever is more.

"This is the time to do it. When the state is really hurting for money and there are difficult times. So I think the proposal makes a lot of sense," said State Senator Thomas LIbous.

The proposal also caps property taxes, reduces local costs by permanently banning all unfunded mandates, and freezes property taxes for seniors 70 and older who live on fixed incomes.

The plan would be paid for with savings generated from the passage of a cap on state spending.

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