tax rebates

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Residents of school districts across the state go to the polls today to vote on budgets. These spending plans were created in the shadow of the state’s property tax cap program.

Most of the schools in New York state are offering budgets that keep tax increases below the state’s suggested two percent tax cap. These budgets are also increasing spending at an average rate of 2.6 percent.

To make up the difference, Tim Kremer, executive director of the New York State School Boards Association says most districts are dipping into savings.

New York state is ramping up its message to homeowners, urging them to reapply for the STAR Tax rebate if they haven’t done it yet. The deadline is the end of the month to get in on the tax break.

Looking at a map of the counties in New York state, Teresa Frank of the state’s Real Property Tax Services office, says a majority of homeowners in each county have reapplied for the property tax break, and there is a bit of a trend.

Gov. Andrew Cuomo seems to be setting the stage for a tax cut next year. Recently, he’s appointed a new commission to look at cutting property and other taxes, and has said the state may have a budget surplus to pay for them.

The governor announced a new tax policy commission headed by former Gov. George Pataki, a Republican, and former state Comptroller Carl McCall, a Democrat. Both are past political rivals of Cuomo.

Cuomo charged the new panel with finding a way to cut taxes.

The new state budget that lawmakers are enacting this week contains a tax package that includes both tax breaks and tax increases. The spending plan comes just two months after Gov. Andrew Cuomo  said there would not be any new taxes in the budget.

The state budget is on track to be finished on time, and before the March 31 deadline, now that all of the spending bills were finally printed shortly before midnight on Monday.

The New York State Senate held a rare Sunday session at the Capitol, in an attempt to get the state budget finished on time in the midst of major religious holidays.

Gov. Andrew Cuomo and legislative leaders agreed to a framework for a new state budget Wednesday evening, but say they are still working out many of the details.