New York’s REALTORS applaud governor’s action to reduce property taxes; urge action by Legislature

Albany, NY - April 28, 2009 - (RealEstateRama) — Statement from New York State Association of REALTORS President Daniel J. Hartnett: New York’s 56,000 REALTORS today applaud Gov. David A. Paterson for taking a first step towards providing meaningful property tax relief for our state’s homeowners. His executive order will require state agencies to detail the fiscal impact of proposed legislation, require that this statement accompany legislation sent to the Legislature, and require agency review of existing regulations to determine potential ways to reduce the fiscal impact of existing mandates on local governments by December 1, 2009.

Gov. Paterson’s action is a positive start in addressing the highest-in-the-nation tax burden that continues to crush New York State’s homeowners. The New York State Commission on Property Tax Relief found that New York State’s local taxes are the highest in America – 78 percent above the national average. It also found that property tax levies in the Empire State are rising at more than twice the rate of inflation and salary growth;  and in terms of tax rate, nine of the 10 highest counties in the nation are in upstate New York.

New York’s REALTORS call upon the members of the state Legislature to follow the governor’s example by enacting structural reforms to the tax system that will foster tax savings to property owners. The cost of unfunded state mandates forced on local governments falls directly on the backs of homeowners, many of whom are already struggling to make ends meet. Every step the state takes toward lower homeownership taxes is a step toward increasing the state’s quality of life and economic vitality.

We urge Albany lawmakers to act on the proposals contained in the state Commission on Property Tax Relief’s report that were not included in the executive order.

The New York State Association of REALTORS is a not-for-profit trade organization representing more than 56,000 of New York state’s real estate professionals. The term REALTOR is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS. These REALTORS are also members of the New York State Association of REALTORS as well as their local board or association of REALTORS.

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Salvatore I. Prividera Jr.
Director of Communications
and Marketing

 

 

 

 

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