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Guest Column: Tax Relief for Homeowners |
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NY State Senator Michael Nozzolio
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Friday, 31 August 2007 |
 One of the biggest issues facing New York State today has been the dramatic increase in property taxes for homeowners. As your New York State Senator, I am fighting to reduce the amount of property taxes that individual homeowners have to pay. I understand the financial struggles of people living on fixed or limited incomes and know how difficult it is for them to find the money to pay their taxes. Almost every week, I receive a call or a letter from someone struggling to make ends meet. They have made it clear to me that the burden of these taxes has become too much for many of them to bear.
As property taxes grow, our economy suffers because people don't have the resources to create new businesses. Although we have made some strides in the right direction, we can't lose sight of the fact that we need to continue our efforts to cut taxes, enhance the STAR program, and reform the costly Medicaid system.
That is why I fought for and supported efforts to establish the REBATE-NY program. This program provides tax relief directly to the homeowner. This year, my colleagues and I in the State Senate successfully fought to include an additional $1.3 billion in relief in the 2007-08 budget. Many homeowners will see a significant increase in their rebate this year as well as next year. It is my hope that the rebate will help to lessen the tax burden currently being placed on homeowners and will help to support the local economy.
The New York State Department of Taxation and Finance has indicated that they have begun mailing information packets that explain how local property owners can sign up for this important tax relief program. Homeowners that have not received their application forms in the mail yet can expect to receive them in the very near future.
It is important to carefully review the information you receive as homeowners will be required to fill out an application to receive the rebate.
Seniors that are 65 years of age or older, who already receive the enhanced STAR exemption, will not be required to apply for their rebate. It will be mailed to them automatically.
All notices will be sent out by the end of September to give people enough time to fill out the application. The deadline to submit applications is November 30, 2007.
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