Cuomo proposes property tax breaks for LIers

Gov. Andrew Cuomo announced a plan Wednesday to give more than 1 million Long Island residents a break on their property taxes. Under the proposal, homeowners who make less than $250,000 a year and

News 12 Staff

Jan 15, 2015, 2:39 AM

Updated 3,416 days ago

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Cuomo proposes property tax breaks for LIers
Gov. Andrew Cuomo announced a plan Wednesday to give more than 1 million Long Island residents a break on their property taxes.
Under the proposal, homeowners who make less than $250,000 a year and pay more than 6 percent of their income in property taxes would get a property tax credit. For the average Nassau property owner, it would be a $1,200 credit. In Suffolk, it would mean a $1,100 credit.
"On a sliding scale, the less you make, the more of a subsidy. It would be the first property tax cut, and the first time we actually get ahead of this problem," said Gov. Cuomo.
It's estimated about 330,000 homeowners on Long Island would benefit from the tax credit.
The governor says renters who make less than $150,000 a year could also see a credit of $400.
There are two hurdles to property tax breaks becoming a reality. Local town governments must agree to stay within the state's 2 percent property tax cap and the New York State Legislature will have to approve the plan since it's a part of the governor's proposed budget.
Political analyst Jerry Kremer says Gov. Cuomo shouldn't face too much opposition.
"There's enough interest here," said Kremer. "I think what he's saying to the Legislature is, 'how can you turn this down?'"
In a statement to News 12, Republican state Senate Majority Leader Dean Skelos said he indicated that any property tax relief plan should be broader and larger in order to include more middle-income New Yorkers.


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