Tag: Property Tax

One of the best things about New York's newly adopted state budget for fiscal 2016 is something that's not in it (yet): a costly new state subsidy of homeowners' local property taxes. Governor Cuomo's Executive Budget proposal included an income tax credit (of the type also known as a "circuit breaker") that, when fully implemented by 2019, would funnel $1.7 billion a year to about half of the state's homeowners, plus renters. Read More

E.J. McMahon, president of the Empire Center for New York State Policy, criticized the various rebate programs, saying they mask the root cause of New York’s high taxes. He said the state needs to reform laws and lessen mandated costs on local governments to drive lower taxes. “This is what happens when the state gets involved in redistributing money in the name of property-tax relief,” he said. Read More

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The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.