Mid-Hudson Leaders Rally with Gov. Cuomo in Support of Middle-Class Tax Relief
Real Estate In-Depth | March 2019
MOUNT KISCO—New York Gov. Andrew M. Cuomo was joined earlier this month by leaders from the Mid-Hudson Valley for a rally at the Boys and Girls Club of Northern Westchester in support of his Tax Fairness for the Middle-Class Campaign to make the property tax cap permanent and cut middle class taxes.
In 2011, Gov. Cuomo vowed to bring property taxes under control once and for all. After years of trying to cap property taxes, New York passed the first ever 2% property tax cap. Since the implementation of the tax cap in 2012, local property tax growth has averaged 1.9%, compared to 5.3% average growth from 2000 to 2010, and the tax cap has produced approximately $6.5 billion in taxpayer savings in the Mid-Hudson Valley and $24.4 billion statewide.
“New York has some of the highest property taxes in the nation and people were being taxed out of their homes until we passed our historic 2% local property tax cap,” Gov. Cuomo said. “Now the federal government is taking us backwards and effectively increasing taxes on families in the Mid-Hudson Valley with its devastating cap on state and local tax deductions. We need to make the local property tax cap permanent, cut middle class taxes and fight SALT so that working people know we are on their side.”
Congresswoman Nita Lowey said, “I am proud to continue to work with Governor Cuomo to strengthen the middle class and provide economic relief to New Yorkers. While Governor Cuomo is leading the fight to make permanent the property tax cap, I and others in the New York delegation in Congress are fighting for tax fairness by supporting legislation like my bill, H.R. 188, the SALT Deductibility Act, which would restore the SALT deduction in full.”
Senate Majority Leader Andrea Stewart-Cousins said, “In my opening remarks as Senate Majority Leader, I stressed the need to make the state’s property tax cap permanent. I was proud of the Senate Majority Conference for quickly bringing this important legislation to the floor and passing it with overwhelming support. The Senate Democratic Majority will continue to stand up for struggling New York families and overburdened taxpayers, and we will work with the Governor to get results.”
Westchester County Executive George Latimer said, “I applauded the governor for recognizing that property tax payers have shouldered a crippling burden for too long. Here in Westchester County residents pay some of the highest property taxes in the nation. The 2% property tax cap is fair and sensible- especially in light of the SALT tax cap. We have heard it for years that property tax payers need relief, and this is a tremendous help for them. Anything more we can do to help property taxpayers should be done.”
Ulster County Executive Adele Reiter said, “I applaud Governor Cuomo for his commitment to making the tax cap permanent and pushing for a middle-class tax cut as part of this year’s budget. The governor understands the importance of stepping up to help middle class families as Washington continuously attacks the working class. We hope to see these critical measures pass in this year’s budget to provide much-needed relief to people in the Mid-Hudson Valley.”
Middletown Mayor Joe Destefano said, “A property tax cap is critical to middle-class homeowners who often struggle to put food on the table and live paycheck to paycheck. In the face of a tax assault from the federal government, Governor Cuomo’s push to make the 2% property tax cap permanent is more important than ever. We applaud Governor Cuomo’s push to make the tax cap permanent, providing much-needed tax relief to residents in the Hudson Valley”
Rockland Business Association President and CEO Al Samuels said, “As a long-time advocate for tax caps, the Rockland Business Association applauds the Governor for this initiative. In order to be competitive in today’s economic environment we must provide the fiscal incentives that will allow us to attract, retain and grow businesses in New York. Measures like this will help us to accomplish these goals.”
Business Council of Westchester President and CEO Dr. Marsha Gordon said, “The Business Council of Westchester was proud to be a partner today and applaud Governor Cuomo’s proactive leadership in addressing the tax structure in New York State. It is essential that New York continues to attract, grow and retain business and talent, and so tackling the SALT tax imposed by the federal government, especially relevant in Westchester County, and making the property tax cap permanent are critical steps. As Westchester’s only business advocacy and economic development membership organization, we stand with the Governor on these issues, and will continue to work actively with him to develop a pro-business tax climate in New York.”
Gov. Andrew M. Cuomo launched a Tax Fairness for the Middle-Class Campaign to make the property tax cap permanent. To illustrate the benefits of a permanent property tax cap, Gov. Cuomo unveiled a digital tax calculator to showcase estimates of how much taxpayers have saved under the property tax cap and will continue to save over the next 10 years with a permanent property tax cap.
As part of the campaign, the governor remains committed to the phase-in of his historic middle-class tax cuts. Under these reforms, middle class tax rates will continue to drop to 5.5% and 6%, depending on income, when the cuts are fully phased in—an up to a 20% cut in income tax rates for the middle class—and will produce a projected $4.2 billion in annual savings for six million filers by 2025. As the new rates phase in, they will be the state’s lowest middle-class tax rates in more than 70 years.