Raia: Increased Property Tax Relief on the Way for Long Island

January 30, 2007

Assemblyman Andrew Raia (R,C,I,WF-East Northport) today applauded the property tax relief plan, released by Governor Spitzer, that echoed much of Raia’s recent agenda regarding property taxes, but said that more needs to be done to help overwhelmed homeowners with housing affordability.

“This property tax relief package is a good start, but more needs to be done to provide relief and make Long Island a more affordable place to live,” said Raia.

The governor today announced that he will include in his Executive Budget a $1.5 billion subsidy for property tax relief for this fiscal year, increasing to $2 billion for next year’s budget and $2.5 billion in the following budget.

Raia noted that the average price of a home in the 9th A.D. is $550,000 and according to the Long Island Association, a new homeowner needs a household income of $200,000 per year just to afford a new home. Housing affordability only worsens for households earning less than $100,000 and, unfortunately, affordable homes are beyond reach for many families. For those who do own homes, high mortgages are only worsened by high taxes. Raia also supports changing state mandates on local governments and schools that drive up costs.

“We must take a comprehensive approach that will render more affordable housing and improve accountability for how our tax dollars are spent. Our homes serve as the foundation for our families and I will always remain focused on ways to make Suffolk County a more affordable place to live,” concluded Raia.