Saladino Announces Passage Of New Personal Income Tax Credit Bringing More Relief To Taxpayers
June 19, 2006
Assemblyman Joseph Saladino announced that he and the New York State Assembly recently passed legislation to further aid taxpayers. The “School District Property Tax Credit” is designed to bring tax relief directly to property owners who have been overburdened by rising taxes. Assemblyman Saladino explained that seniors eligible for the Enhanced STAR program will benefit from this new legislation, receiving a credit increase of 67 percent. Saladino said, “This package is a step in the fight to help put money back into the pockets of hardworking New Yorkers, but there is more to be done, and I will continue to fight to save taxpayer money.” “Long Islanders’ property tax bills soar higher and higher each year, and we hope this plan provides relief for seniors and homeowners alike.” If the legislation is signed into law by the governor, the state Department of Taxation and Finance would be required to send property owners a claim form by mail in the amount of the credit each taxpayer qualifies for by September 1. Taxpayers who do not want to claim the advanced payment would be eligible for the same amount of credit when they file their Personal Income Tax returns. To claim early, taxpayers must submit applications by November 15th. After the 2006 taxable year, taxpayers will claim the credit when filing their annual Personal Income Tax.