THE NEW YORK "STOP TAXING OUR PROPERTY" PLAN (NY-STOP)

Video from Senator Bruno's NY-STOP announcement
Part I
Part II

"Join the Fight" and sign up to help elminate property taxes
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Earlier this year, I was successful in my fight to add $1.3 billion to double the size of property tax rebates as well as provide $1.8 billion in school aid increases. In spite of these historic aid increases, the combined State and local tax burden in New York is still among the highest in the nation. The rebates are a big help, but we need to do more to reform how we pay for education.

We need to take a big step - and do something dramatic to address this problem. That is why I supported legislation that passed the Senate called NY-STOP, short for the New York "Stop Taxing Our Property" Reform Plan. This plan will build on the tax relief that we�ve delivered and enact fundamental reform of the property tax system in NYS.

NY-STOP would give school districts the authority to eliminate local property taxes for residential property over five years, with revenue replaced with additional State funding. School district voters could choose to eliminate school property taxes over a five-year period, and create a new State aid formula to fully reimburse for the reduction in local tax collections, which could reduce school property taxes by up to $1.9 billion annually.

It would also impose an immediate freeze on property tax assessments for seniors with incomes up to $100,000 to provide immediate tax relief to hundreds of thousands of New York seniors 65 and older who are living on fixed incomes. In addition, the plan would require the State to pick up the cost of any state mandated program imposed on municipalities or school districts.

Our NY-STOP plan represents a dramatic step forward to reform our system of property taxes that continues to be an enormous burden to homeowners. With our NY-STOP Property Tax Reform package, we will put more money back into the pockets of hardworking homeowners, help thousands of seniors remain in their homes, and encourage young New Yorkers to stay, work and raise a family right here in New York State.

Click here for more information on the Senate Majority's NY-STOP plan.

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