Gov. Andrew Cuomo highlights plan to pass package of tax bills in State of the State address
WOODBURY - One highlight of Gov. Andrew Cuomo's State of the State address on Wednesday was his plan to ask lawmakers to pass a package of tax bills.
The package would include a two-year freeze on property taxes that would apply to homeowners whose school district, town or village stay within the 2 percent tax cap.
The property tax freeze would be in place for two years, but only if local governments adhere to the 2 percent tax cap.
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A second proposal Cuomo discussed was the so-called "circuit breaker." Depending on a resident's salary, property taxes would not exceed 3, 4 or 5 percent of their income. If they do, the state would pick up a portion of the difference, up to a maximum of $1,000.
It's not clear yet how homeowners would get the tax break. It could be anything from a credit on their income taxes to a check in the mail.
More details are expected in two weeks when Cuomo presents his budget to state legislators.