Binghamton, NY – March 23, 2015 – (RealEstateRama) — Assemblyman Clifford W. Crouch (R-Bainbridge) today called for the inclusion of a $500 property tax credit for middle-class families in the Southern Tier in the state’s final budget. Crouch’s call for tax relief comes in the wake of news that New York State has an additional $610 million on hand from yet another bank settlement.
“There are a lot of areas in the budget that these funds can be applied to,” said Crouch. “It is no secret that New York families are overtaxed, pay some of the highest property taxes in the nation, and are finding it extremely difficult to afford and stay in homes they want to raise families in because of the tax burden we all have to shoulder. As such, I believe our middle-class families who receive a STAR exemption should get the necessary relief that they need and deserve.”
Crouch said the one-time cash windfall is bank settlement money New York has on hand and was recently received by the New York State Department of Financial Services. He said that this money, combined with existing available funds, could make a tax relief measure possible for overburdened families.
“Along with fully funding our schools and a more equitable distribution of state school aid resources, I will be advocating for inclusion of this relief measure in the final budget,” concluded Crouch.
