ALBANY – In a year that’s been overshadowed by charges of corruption and gridlock, state lawmakers brought this year’s legislative session to a close last week, and Chenango County’s reps in Albany are hailing where they found common ground on both sides of the aisle, particularly in the way of tax relief and education.
Among the highlights of deadline deals: an extension of the property tax cap that was set to expire in 2016. The tax cap, which has saved taxpayers an estimated $7.6 billion since enacted in 2012, will now be extended until 2020, which local representatives agree is good news for homeowners.
Also, $3.1 billion in new property tax rebates was made available for STAR-eligible homeowners over the next four years, starting in 2016. When combined with existing tax freeze checks planned for next year, a total $900 million in property tax relief checks will be sent statewide – an average of roughly $350 per eligible homeowner.