Cuomo commission on taxes to issue report - NEWS10 ABC: Albany, New York News, Weather, Sports

Cuomo commission on taxes to issue report

Posted:
ALBANY, N.Y. (AP) - Gov. Andrew Cuomo's tax commission wants a two-year freeze on property taxes.

The state would subsidize the costs, so taxpayers wouldn't see increases. The second year of a freeze would include provisions to force local action and cuts to yield permanent tax relief.

In a report Tuesday, the commission also proposes a tax credit for homeowners who spend a large portion of their income on property taxes. Other recommendations would merge and simplify taxes for employers and reduce the estate tax.

Cuomo called the report impressive.

The report could help shape the tax cut Cuomo is promising for 2014. He supports a state-subsidized cut in property taxes that could be tied to household income so poorer and middle class families would see more of a break than the wealthier.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The full report can be found below the comments section.

Powered by WorldNow

341 Northern Blvd., Albany, NY 12204

Telephone: 518.436.4822
Fax: 518.426.4792
Email: news@news10.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Albany, Inc. A Media General Company.