Local Activists Join Movement Against Proposed Tax Breaks
2/19/2014 (Updated 10:48:18 PM)Less than a month after Governor Cuomo unveiled his proposed budget for the year, local groups have joined a statewide movement speaking out against Cuomo's proposed tax breaks.
Area activists say the tax breaks only benefit wealthy New York residents and that the proposed bank tax and property tax freeze would give the largest relief to wealthy homeowners and deprive resources for schools and local governments.
They say New York ranks first in the nation when it comes to income inequality and it's time for a change.
"You have about 700,000 households with incomes below $100,000 a year paying more than 10% of their income in property taxes. you've got 250,000 households with incomes below 50,000 that pay over 20% of their income in property taxes," said Ron Deutsch, Executive Director of New Yorkers For Fiscal Fairness.
"Those are the people that need help, not the wealthy homeowner in a $2 million home," he said.
Activists are calling for property tax relief through a circuit breaker system which would cap how much residents owe in property taxes based on income and if your property tax bill exceeds the cap, you would get a rebate from the senate.
For more information on the movement, visit ny-inequality.org.
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