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Putting Money Back in New Yorkers’ Pockets

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Putting Money Back in New Yorkers’ Pockets

March 31, 2010 - 16:42
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From the Desk of State Senator Jeff Klein…

Dear Reader:

I want to share an important milestone with you, as we work together to fight for real property tax relief now. In March, the State Senate passed my legislation which would provide immediate property tax relief for middle class and senior homeowners. My bill mandates varying degrees of relief to ensure that your hard-earned tax dollars are going back into your pocket.

Here's what my legislation does. First, it restores STAR rebate checks for seniors with annual incomes up to $150,000, based on their local property taxes. Second, it creates a circuit breaker tax credit for households earning up to $250,000 annually. This credit kicks in when your property taxes exceed a certain percentage of your household income.

For example – an Enhanced STAR eligible senior, with an annual household income of $60,000 and paying $9,000 in property taxes, would have their STAR rebate check restored at $2,933, and would receive an additional circuit breaker credit of $560. This means over $3,400 in additional tax relief than this senior received in 2009.

In addition, because rents rise when property taxes do, under my bill renters also receive circuit breaker protection based on a property tax equivalent of their rent. Finally, my bill institutes a cap on local school property tax increases to stop spiraling yearly tax increases, with any overrides requiring a super majority of local voters.

I want you to know that I will continue to fight to get this progressive and necessary relief through the State Assembly and on the Governor's desk for signature this year. I stand strong in my commitment to make targeted and real relief a reality in order to keep the dream of homeownership alive for millions of New Yorkers.

Jeff Klein
Deputy Majority Leader
New York State Senate
34th District

There are 3 Comments

appreciate an elected official communicating on this blog about these critical times. Last week I commented on S6212(yours and some cosponsors) which your blog entry covers and it is a good thing and a long time coming. I think you likely were influenced by the Suozzi report which, too, was a very good thing.

I have posted a new blog citing your vote on the lamentable Pension legislation passed in the senate. I believe you were joined by a frequent collaboratork Senator Johnson of Nassau County in this effort.

While I dont particular like your approach to raising funds from corporations and unions (was it a $50,000 entry fee) as it like the old Roman Catholic approach to selling indulgences, you are remarkably sound for someone in a broken and hardly functioning state senate. So stay well and look after the taxpayer; expecially the senior middle class man or woman who often find themselves on the cusp of extinction given the taxing issues and economic climate in the state. I am one, also a cooperative shareholder and surely you know many of us go to coops since we can no longer manage a large home or have become empty nesters. We need a little extra love and attention and it would not hurt if you used your skill and good offices to insert in any property tax bill, a requirement that cooperative boards and their management agents drew on STAR funds ONLY as envisioned by Governor Pataki and not as a lazy, irrresponsible way for the aforementioned to balance an Operating Budget.

Sounds a little like New York State government to me. Nice work and welcome to the Talk of the Sound blog.

warren gross

How much for a citizen to get exclusive face time with leadership?

Would your legislation have passed the Senate earlier if there was not a power grab work stoppage?

I am all for tax breaks but the timing of this seems odd since the State of NY does not have a budget yet.

Senator Klein, here is a novel idea for you to uphold the fight. How about we reign in spending first. Put that in writing.

Sounds great, but who's paying for it? The money has to come from somewhere and the state is broke. And what's so magical about $250,000 or is that just how Obama describes "middle" class? For this area, $250,000 isn't that much and besides you should be encouraging people to earn more and not less! All of the tax increases that NY imposes on us is killing innovation.

Also, I've read that you and your collegues are on vacation, is that true? The budget was due yesterday and you're home for the holidays, that just doesn't sit well with me. You should be in Albany taking care of the people business.

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