Press-Republican

Wednesday

December 11, 2013

State Tax Relief Commission report yields ideas

Local, state leaders hope proposals can help individuals, businesses

(Continued)

Essex County supervisors are looking at a 15 percent tax-levy increase; that would require a majority vote to override the cap.

“We may not do it (meet the tax cap) at the county level until we stabilize our budgets,” Douglas said.

Clinton County Legislature Chairman Jimmy Langley (R-Area 7, Peru) said he hopes the recommendations become reality in the state’s 2014 budget.

“Over the last two years, we have seen the governor lead real action to rein in spending and lower taxes for the middle class,” he said.

“Adding to that is (Tuesday’s) report, a report that encourages government to build on these sacrifices to further create the type of environments where both businesses and families can flourish.”

‘MUCH LEFT TO DO’

The New York Farm Bureau especially likes the idea of increasing the threshold for the estate-tax exemption to $5.25 million.

“It isn’t difficult for farms in New York to hit the current $1 million threshold when the values of land, livestock and equipment are taken into account,” Farm Bureau President Dean Norton said in a statement.

“The change would prevent most families from having to sell off pieces of a farm that may have been in the family for generations just to pay the tax bill should a death occur.”

Assemblywoman Janet Duprey (R-Peru) said the commission report is a good start but more still needs to be done.

“My initial review of the report is positive,” she said. “Clearly, property taxes in New York have been an increasing burden on business and residential property owners for years, so providing incentives to local governments for holding the line on taxes should prove beneficial.

“However, we also need to be aware that local municipalities and schools have exhausted much of their fund-balance reserves, so it will be critical for the state to work with local officials to assure adequate services continue.”

Little said the report recommendations will likely become part of the budget discussions when work on the 2014 spending plan begins early next year.

Email Joe LoTemplio:jlotemplio@pressrepublican.com

 

 

 

Text Only | Photo Reprints
Wednesday
CVPH Job Opportunities