Long Island Homeowners Are One Step Closer To Property Tax Relief
Assemblyman Michael J. Fitzpatrick (R,C,I-Smithtown) yesterday voted for Assembly legislation creating a personal income tax credit to help relieve homeowners from New York’s repressive property tax burdens.
“Long Island homeowners are a step closer to property tax relief,” said Fitzpatrick. “The tax credit is needed relief for many seniors and families.”
The School District Property Tax Credit and its amount would vary depending on where each homeowner resides. The rebate check would equal about 30 percent of the savings realized from the existing School Tax Relief (STAR) program. Legislators estimate the savings at between $200 and $800.
In addition, senior citizens eligible for Enhanced STAR, and whose incomes are less than $67,850, would receive an additional 67 percent credit increase.
“Senior homeowners on Long Island have been hit hard by property taxes that are 53 percent above the national average, causing many of them to sell their homes and move away from friends and families,” remarked Fitzpatrick. “The tax credit would give some needed relief to seniors.”
The state Department of Taxation and Finance would issue claim forms in the amount of the credits homeowners qualify for by September 1. Homeowners may collect their credits early via advanced payments or collect the same credits when they file their personal income tax returns. To receive advanced payments, property owners most submit the appropriate forms before November 15.
“Long Island homeowners suffer some of the highest property taxes in the nation,” added Fitzpatrick. “The tax credit is an important step in relieving this burden, but it is only a first step. Reforming state government and restraining spending at every level of government is the only way to make property tax relief permanent.”