Governor’s tax cut plan shines through new website
CHENANGO COUNTY – New York State Governor Andrew Cuomo is touting an initiative to cut property taxes across the state which may have only a nominal impact on Chenango County residents.
In an attempt to bolster his proposal to cut property taxes, the Governor on Wednesday launched a new website, www.CutPropertyTaxes.ny.gov, to encourage homeowners to learn more about the initiative. The site features information on the Governor’s pending tax cut plan along with statements of support from elected officials and advocacy groups; and it serves as a resource for people to have their opinions heard.
The rollout of the new website comes only weeks before the State Assembly is scheduled to vote on the Governor's executive budget which calls for a property tax freeze and a property tax “circuit breaker” that will affect an estimated two million low and middle income taxpayers.
But the impact on Chenango County may not be as large as hoped, explained Chenango County Treasurer William Craine.
“It may only amount to saving the average taxpayer $65 to $70 over the course of the year,” he said. “We applaud the Governor's concepts of freezing and lowering taxes because we think they are too high in New York; but there's a lot of paperwork that comes with this plan and when you have a county like Westchester of Rockland, where taxes are much higher, the reductions are bigger.”
Craine said for the small reductions that could take effect in Chenango County, it may be more feasible to unhinge Medicaid costs from property taxes and instead, have New York follow suit of most other states and assume the full burden of Medicaid. “To me, that seems like a better way to implement those tax cuts with less paper shuffling and administrative work,” Craine said.
Cuomo's plans for tax relief are built in anticipation of taking a once $10 billion deficit to a $2 billion surplus by the 2016-2017 fiscal year. He outlined plans in his executive budget presentation in January to use this revenue to cut taxes for families and businesses to provide them relief and stimulate the economy.
Cuomo’s proposal offers a two-year property tax freeze for homeowners, subject to two condition: the taxing jurisdiction adheres to the state mandated 2 percent tax cap in the first year; and those jurisdictions adhere to the tax cap while also taking steps to share services or consolidate with other jurisdiction during the second year.
According to the executive budget, the circuit breaker will provide more than $1 billion in tax relief for those who pay an effective real property tax rate relative to income that exceeds their income tax rate. The initiative will apply to households earning up to $200,000 annually.
While efforts to lower property taxes are praised among local officials, it's the Governor’s incentive for municipalities to consolidate that is most noteworthy, said Norwich City Mayor Joseph Maiurano.
“I agree that there is too much redundancy in government. There's too many taxing entities in New York State,” Maiurano said. “Chenango County is a good example of too much government,” he added, citing the 21 townships, eight villages and one city that make up the county. “There's a lot that can be done in Chenango County that could save taxpayers a lot of money. I think we can serve the public just as well if we were to get rid of some of those redundancies.”
New York has a reputation of being among the highest taxed states in the nation, with an average residential bill of $5,040 annually.
In an attempt to bolster his proposal to cut property taxes, the Governor on Wednesday launched a new website, www.CutPropertyTaxes.ny.gov, to encourage homeowners to learn more about the initiative. The site features information on the Governor’s pending tax cut plan along with statements of support from elected officials and advocacy groups; and it serves as a resource for people to have their opinions heard.
The rollout of the new website comes only weeks before the State Assembly is scheduled to vote on the Governor's executive budget which calls for a property tax freeze and a property tax “circuit breaker” that will affect an estimated two million low and middle income taxpayers.
But the impact on Chenango County may not be as large as hoped, explained Chenango County Treasurer William Craine.
“It may only amount to saving the average taxpayer $65 to $70 over the course of the year,” he said. “We applaud the Governor's concepts of freezing and lowering taxes because we think they are too high in New York; but there's a lot of paperwork that comes with this plan and when you have a county like Westchester of Rockland, where taxes are much higher, the reductions are bigger.”
Craine said for the small reductions that could take effect in Chenango County, it may be more feasible to unhinge Medicaid costs from property taxes and instead, have New York follow suit of most other states and assume the full burden of Medicaid. “To me, that seems like a better way to implement those tax cuts with less paper shuffling and administrative work,” Craine said.
Cuomo's plans for tax relief are built in anticipation of taking a once $10 billion deficit to a $2 billion surplus by the 2016-2017 fiscal year. He outlined plans in his executive budget presentation in January to use this revenue to cut taxes for families and businesses to provide them relief and stimulate the economy.
Cuomo’s proposal offers a two-year property tax freeze for homeowners, subject to two condition: the taxing jurisdiction adheres to the state mandated 2 percent tax cap in the first year; and those jurisdictions adhere to the tax cap while also taking steps to share services or consolidate with other jurisdiction during the second year.
According to the executive budget, the circuit breaker will provide more than $1 billion in tax relief for those who pay an effective real property tax rate relative to income that exceeds their income tax rate. The initiative will apply to households earning up to $200,000 annually.
While efforts to lower property taxes are praised among local officials, it's the Governor’s incentive for municipalities to consolidate that is most noteworthy, said Norwich City Mayor Joseph Maiurano.
“I agree that there is too much redundancy in government. There's too many taxing entities in New York State,” Maiurano said. “Chenango County is a good example of too much government,” he added, citing the 21 townships, eight villages and one city that make up the county. “There's a lot that can be done in Chenango County that could save taxpayers a lot of money. I think we can serve the public just as well if we were to get rid of some of those redundancies.”
New York has a reputation of being among the highest taxed states in the nation, with an average residential bill of $5,040 annually.
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