Saladino: Budget Agreement A Victory For Homeowners
March 29, 2006
Calling it an important victory for New York taxpayers, Assemblyman Joseph Saladino today announced that the 2006-07 State Budget will contain several tax relief measures that he and the Assembly minority conference have advocated for throughout the Legislative Session. Saladino said, “This is only the beginning. I have made it clear that taxpayers need real relief and I am pleased to see that the work that myself and my Assembly minority colleagues have done has resulted in substantial tax relief whether it’s for seniors, parents, or any property owner.” Assemblyman Saladino noted that some outcomes of the agreement to be included as part of the 2006-07 State Budget include:
- $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 nearly $4 billion worth of tax cuts over 2 years.