Assemblyman Giglio Announces Budget Agreement
Agreement includes significant property tax relief as well as other tax cuts
March 28, 2006
“I am proud to announce that an agreement was reached tonight during Conference Committee Hearings that will provide significant property tax relief,” said Giglio. “My colleagues and I in the Assembly minority conference have continued to press the issue of real property tax relief and the homeowners of New York will now get the relief they deserve.” The Legislative budget agreement includes, but is not limited to:
- $805 million in property tax rebates this year and $960 million in 2007-08, totaling $1.765 billion;
- Providing $72 million in cost-of-living increases in senior STAR for this year and next - STAR rebates will range from $300 to $800, depending on the homeowner's age and particular property tax levy;
- Elimination of the State sales tax on clothing under $110 dollars;
- Several other measures, including a child tax credit of $300 for children ages 4-17, ultimately accumulate to $4 billion worth of tax cuts over 2 years.