Suozzi Report Calls On Property-Tax Cap, Circuit Breaker
As expected, the state Commission on Property Tax Reform, headed by Nassau County executive Thomas Suozzi, is recommending a school property-tax cap of 4 percent annual growth, tying property taxes to incomes (called a circuit breaker) and relieving schools of state and local mandates.
“There are only three options to address the ever increasing cost burden of the New York State education system: 1) decrease expenses (or at least decrease the rate of growth), 2) increase state aid, or 3) increase property taxes,” the report reads.
“These options involve hard choices, but this Commission concludes that, regardless of any other factors, it must be a priority to limit property tax increases above a capped amount.”
Here’s the report.
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Tying Property Taxes to income is very extreme. So the more money you make the higher your tax burdon will be. It is nice to say that let the super rick pay the bill. The reality is we do have some people who are very rich, but in general I believe 95% of the people who live in our community are not. The question should be. What are the actual incomes that will trigger increased property taxes. Will this include a husband and wife who are both lets say school teacher’s, police officers, fireman or any profession who make $75,000 a year. In this case the house hold income would be $150,000 to $200,000 a year. Will they be considered rich? I would like to know.
They are probably in the top 5%.
Cut the damned bureaucracy for starters! Too damned many education PhDs wandering around bumping into each other.
Ed you are probably right, they will be in the top 5% of the taxpayers. The truth is they are middleclass people, trying to make a living to support there families and just stay above their head with bills. So what does our Government do, raise there taxes.
This Circuit Breaker Bill is sponsored by Assemblywoman Sandra Galef. She does not care about the average hard working husband and wife who are just trying to get by.
Right on, Ed. Cut the damn education bureaucracy. It’s been out of control for a long time.
Cut Property Taxes – And Cut Them NOW
Unfortunately, politicians do not factor cost-of-living or differentiate between income and wealth in much of their tax policy. A couple whose combined income is $150,000 in Westchester is living a middle-class lifestyle but they are going to be taxed at both the state and federal level like they are Rockefellers.
That is very true, the bad thing about this everyone that reads this blog or the paper that sponsors it is from the Westchester/Hudson Valley. SO we all fall into that situation.
Politicians like Sandy Galef who sponsor these type of bills alway forget to mention what middle class means to Westchester. It is not the same as Buffalo or Columbia county.
It is really misleading if you do not pay attention to the issues.
You are right, we need new people in office. VOTE THEM OUT
Assemblywoman Galef’s proposal (A1575-A) would provide property relief to any family making less than $250,000 a year. Under her proposal:
If a family makes $120,000 or less, but has to pay more than 6% of that income in property taxes, they will qualify for an income tax credit equal to 70% of the overage, that is, the amount by which the property tax exceeds the 6% level.
For example, say the family makes $120,000 but has to pay 10% of that income ($12,000) in property taxes. Since this property tax bill is greater than 6% of the family’s income, under Galef’s proposal, the family will qualify for an income tax rebate equal to 70% of the 4% by which the property tax level exceeds 6% of the family’s income. In other words, they’ll get a tax rebate of $3360 to offset the costs of the property tax.
Families which make $120,001 – $175,000 would have to pay property taxes up to 7% of their income, but would qualify for the same 70% rebate for amounts in excess of that 7%.
Families making $175,001 – $250,000 would similarly have to pay property taxes up to 8% of their income, but would qualify for the same 70% rebate for amounts in excess of that 8%
Families making above $250,001 would not receive a credit.
It strikes me as a reasonable proposal, of course, we’ll see if it actually passes.
Peter,
Where does the money come from?
CUT PROPERTY TAXES NOW!!! I am hearing too many stories of cops and teachers making $150,000 a year with a fat pension. They are now the NEW rich. Meanwhile, the average working, college educated Joe is making $50,000 with NO pension. COME ON!! Does anyone care??
Recently, the Albany Times Union published a list of those taking in over $100,000 in pensions. Many were retired cops from Westchester, and there firemen and teachers. The list might still be available on the Times Union’s web site.
The Journal News ignored it all.
How many families do you know make over $250,000 a year as household income. Honestly I might know 1. I know many people so if evryone that I know will be getting a tax break and the 1 family I know who might be making over $250,000 then who will actually be paying the property taxes.
Needs More Attention had it RIGHT. Politicians like to say have the super rich pay the bill and give the middle class a break.
The numbers do not compute.
For a legislator to suggest a plan like Assemblywomen Sandy Galef has is so out of touch with reality it is sad.
What we really need is common sense to our tax struture. Not FLIM FLAN Legislation.
What a joke for these lazy Albany representatives. They need to toss the current laws on school funding and get to work rewriting them. Oh…they may have to work instead of doing temporary stop gap measures.
Our Albany elected only work Jan. thru June for an average of three days a week. Get health, NY State Pension credit and travel and hotel reimbursements. Great salary for three days a week for six months. On average 72 days work. They are all afraid of losing this so they will not rewrite school funding with caps etc. because the teachers union will go ballistic.
They should be MADE TO STAY IN SESSION for the entire year, earn their pay by re doing school funding laws and how the money is raised. Home owner assesment is outdated and other states do not use this method.
The teachers unions and the rest of the education bureaucracy (plus the Working Families party) have lined up against this very needed fix. The unions own Albany. Case closed, and NY sinks further into oblivion.
I’m afraid that you’re absolutely correct. Sad situation. And adding insult to injury, one owned man in the Assembly has the twisted power to decide all of our fates.