State Tax Commissioner Kenneth Adams was in Beverly Kinney's Grand Island home Wednesday to pitch for Governor Cuomo's property tax relief program. The plan is part of the ongoing budget debate in Albany.
With a small group in the home of a Democratic Town Board candidate, the former economic development commissioner was pitching the governor's carrot and stick property tax program. If property taxes are kept below the cap, the program proposes a rebate to owners and renters.
Adams says the tax cap and the possible rebate are especially important to older homeowners.
"If you look at people who are retired and on a basically fixed income, like a pension, Social Security, et cetera, (they) are at a greater risk at having more than six percent of that go for a property tax that has tripled in 20 years," Adams said.
"They are at very, very great risk because their income is flat and probably hasn't been rising."
For homeowners with incomes below $250,000 a year, the tax relief would apply if property taxes are more than six-percent of their income. The tax break and a similar break for renters are before the Legislature as the budget deadline approaches March 31.
