As Budget Deadline Nears, Larkin Discusses Difference Between Governor's And Senate's Budget And What They Mean To Your Property Taxes

Senator Bill Larkin (R-C, Cornwall-on-Hudson) today announced highlights of the Senate’s property tax proposals for the 2007-08 state budget.

As Chair of the Budget Conference Committee on Taxes & Economic Development, Senator Larkin said the Senate is fighting to keep property tax relief in the final state budget:

Local taxes per household in New York ($6,377) are the highest in the country and more than two times the national median ($2,952).

The Governor’s budget proposes no property tax relief at all for taxpayers. "Families simply can’t afford their property taxes and seniors are being taxed out of their homes," said Larkin. "To make matters worse, most of their school districts wouldn’t even receive enough of a school aid increase to keep up with inflation -- and property taxpayers will have to make up the difference."

The Senate is fighting to expand the property tax relief rebate program to provide $2.6 billion in property tax relief this year and $3.4 billion in 2008.

"We want to triple the size of direct property tax rebate checks in the first year and almost quadruple checks in the second year," said Larkin. In 2006, rebate checks averaged $175 for non-seniors and $300 for seniors. Under Rebate Plus, the rebates would average $525 for non-seniors and $900 for seniors.