(WBNG Binghamton) New York Governor Andrew M. Cuomo on Monday announced support from more than 225 local elected officials for his plan to cut property taxes.
“Property taxes are one of the single greatest financial burdens for New Yorkers, and we can no longer allow our reputation as the tax capital of the nation hurt our homeowners,” Governor Cuomo said in a news release. “Just as we have worked to right size state government and bring our finances under control, local governments must continue to do the same. Our property tax reform agenda delivers more than $1 billion in tax relief while also encouraging local governments to address the crushing weight of the bureaucracy by working together to share services. Support for our approach is growing every day, and I commend the local leaders and countless New Yorkers who have voiced their support by calling on the legislature to make property tax reform a reality.”
According to a news release from Cuomo's office:
Suffolk County Executive Steve Bellone said, "In the last three years, Governor Cuomo has proved to be a committed partner to Suffolk County. He recognizes that high property taxes remain a high burden on our homeowners and that we need to continue to attract new businesses to our region. His State of the State agenda will address just that and continue to push New York on a path to economic growth. From tax relief to exciting proposals for our education system to rebuilding our communities after Sandy, the Governor's agenda for this year is full of promising initiatives. I applaud his vision and offer any support to push it forward."
Suffolk County Legislature Presiding Officer DuWayne Gregory said, "I applaud Governor Cuomo's proposal to freeze property taxes for two years. A property tax freeze will provide substantial tax savings for state residents and will act as a powerful tool to attract new business to the state and create jobs. The Suffolk County Legislature understands the vital importance of lessening the property tax burden and that is why we have not raised general fund property taxes or have decreased general fund property taxes in Suffolk County for the last 11 years."
The Governor’s plan would freeze property taxes for two years in communities where the local government also takes steps to consolidate and share services, and would provide relief based on an individual homeowner’s ability to pay. During year two of the Governor’s freeze proposal, nearly 700,000 Long Island homeowners could benefit, with total savings of as much as $394 million and an average benefit of $565. Under the circuit breaker proposal, approximately 367,700 households will qualify for an average real property personal income tax credit of $755, totaling $278 million in savings to Long Island residents.