New York homeowners lining up to prepay property taxes in order to reduce their federal income taxes will also be in line for a temporary added cut in their 2017 state personal income tax. As a result, however, the prepayment phenomenon will also at least slightly erode the state government's already sagging income tax receipts in the current fiscal year—while making many of the same homeowners liable for at least a small tax hike in 2018.The rush to prepay local property taxes before the end of 2017, encouraged by Governor Cuomo in reaction to federal reform, will have some unintended consequences. Read More
Month: May 2017
Governor Andrew Cuomo is ending the year on a strong pro-taxpayer note, vetoing union-backed legislation that would have blocked the Nassau County Interim Finance Authority from imposing pay freezes to balance the county budget. Read More
Wonder why New York pays through the nose for everything from health care to construction projects to auto insurance — and taxes? A new report from the Empire Center has a one-word answer: lawsuits. Read More
Following several ignored Freedom of Information Law (FOIL) requests for its teacher and superintendent contracts, the Empire Center for Public Policy today will file a lawsuit against Malverne Union Free School District in Nassau County on Long Island. Read More
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