New State Budget Delivers Historic Tax Cuts & Record State School Aid For Long Island

April 1, 2016 –Senator Ken LaValle released details on the New York State Budget, which passed the legislature today. 

Senator LaValle said, “The new state budget includes a record-high level of nearly $25 billion in school aid overall, as well as the complete elimination of the program-cutting GEA.  We also provide an historic income tax cut of more than $4 billion for millions of middle class New Yorkers, as well as thousands of small businesses.  It delivers property tax relief for hardworking taxpayers and seniors through the STAR and enhanced STAR programs, and ensures another round of property tax rebate checks.”

Senator LaValle continued, “This year, Long Island school districts will be receiving $3 billion in school aid, which is an increase of $200 million over last years allotment.  The new tax cut will save nearly 1 million Long Island taxpayers approximately $766.1 million when completely implemented.  The result will be an average savings of $847 per year. “

STAR rebate program; Property Tax Relief Checks

Senator LaValle said, “As the author of the STAR program, I worked to secure funding again this year for this important rebate program.  Additionally, I sought to continue the property tax rebate check program.  I was successful in obtaining full funding for both programs in the new budget.”

“By maintaining the property tax cap, making the state government live within the “2% tax cap”, continuing to fund the STAR programs, we will be able to provide the tax stability that Long Islanders deserve.” Senator LaValle concluded.

Historic State aid to our local schools; Elimination of the harmful GEA

Senator Ken LaValle said, “This year, we secured a record amount of school aid, nearly $25 billion, protecting local homeowners from higher property taxes.  This is an increase of $1.5 billion over last year’s funding. The budget provides the level of funding necessary for our schools to maintain a quality education for our children and keep school taxes under control.”

Senator LaValle continued, “Since it’s imposition, I opposed the Gap Elimination Adjustment (GEA) and I pledged to my constituents to work to eliminate it.  Over the years, the GEA forced many school districts to cut educational programs and reduce services.  In January, my legislation was approved by the Senate to completely eliminate the GEA this year.   Now, I am pleased to report that I was successful in having the GEA removed from the state budget in it’s entirety.  This restoration of aid will greatly help local school districts, and our taxpayers, with the budget funds necessary to educate our children.”

The new state budget tax relief includes:

A major new middle class income tax cut, which will reduce taxes by approximately $4.2 billion for millions of middle class families, as well as thousands of small businesses. This broad-based tax cut will reduce middle class tax rates by 20 percent. It will also establish the lowest middle class tax rate since 1948, and represents one of the largest income tax reductions in state history;

Major property tax relief, including approximately $2.7 billion in funding for STAR and Enhanced STAR;

Another round of tax rebates, with new checks being sent out to homeowners this fall; and

A record amount of school aid, nearly $25 billion, to protect local homeowners from higher property taxes.

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