Assemblyman Bob Oaks (R,C-Macedon) reacted to the Assembly majority 2006-07 state budget proposal by saying it spends too much and brings too little relief to overburdened property taxpayers across our state.
"The first priority in this year’s budget process should be to agree to use the surplus for tax relief for our residents," said Assemblyman Oaks. "The Assembly majority proposal provides only limited tax relief but fortunately there is still time to negotiate an on-time budget that gives needed help to homeowners.
The Assembly minority plan, first introduced in the "Save our Homes" package of legislation, would expand the benefits of STAR from a $30,000 exemption to $50,000 and senior enhanced STAR from $50,000 to $80,000. This plan would give $1.75 billion of tax relief statewide and reduce the school property tax bills by hundreds of dollars for every homeowner in our region and throughout the state.
Under the Assembly majority plan, a homeowner would only receive a tax break if their property taxes were greater than 7.5% of their income, meaning a working family of four with a household income of $50,000 and a property tax bill of $3,750 or less would see no relief. Similarly, a family with an income of $75,000 and a property tax bill of $5,625 or less would not benefit.
Budget Conference Committees have already started to meet," said Assemblyman Oaks. "We are making excellent progress toward meeting the April 1 budget deadline, but our final state budget must include meaningful property tax relief for all of our homeowners."