Gov. Andrew Cuomo highlights plan to pass package of tax bills in State of the State address
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.
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.