QUICK LINKS:

Governor Cuomo proposes tax cut plan

Updated: 01/06/2014 7:18 PM
Created: 01/06/2014 4:34 PM WNYT.com
By: Bill Lambdin

ALBANY - Governor Andrew Cuomo says it is no mystery how New York's taxes got so high. For 60 years Empire State leaders spent far more year after year than residents took in from higher income.

Speaking Monday to invited business advocates, he stressed his administration has been battling to control that spending.

"You take a person on fixed income or lower income, the property taxes in this state are just intolerable," Cuomo said.

The Governor is proposing freezing property taxes for two years, provided the homeowners' local governments live within the 2 per cent tax cap. Those 10-thousand 500 taxing entities in New York would also be required to consolidate or share services, something that's been long talked about but never seems to happen.

"If you don't make a significant difference in property taxes, you can't fundamentally get the taxes of this state under control," Cuomo said.

The Governor is also attacking the state's reputation of taxing from the cradle to the grave.

He wants to eliminate the state's take of the death tax for 90 per cent of estates currently covered, reducing the rate for the other ten per cent.

The Governor also wants to provide tax incentives for manufacturing, especially upstate.

Initial reaction was generally positive to the proposals, although select progressive groups noted big businesses would receive additional tax breaks under the Governor's plan.

Invited business advocates gather to hear Gov. Cuomo in Albany. (Cuomo is seen in the right seat, above the banner.)
Photo: Matt Soriano / WNYT

Albany

Broken Clouds
70°
81° | 68°
  • Feels like: 70° F
  • Wind: SSE 8mph
  • Humidity: 81%