Circuit Breaker
Institute a Circuit Breaker based on the Omnibus Consortium's Property Tax Relief and Reform Act (www.omnibustaxsolution.org): 1. Limit Property taxes paid by individuals based on thier income - property taxes should not exceed more that 6-9% of income and should be on a sliding scale 2. Include renters in the Circuit Breaker 3. Include ALL local taxes in Circuit Breaker (not just school taxes) 4. Have same bracket structure ...more »
Institute a Circuit Breaker based on the Omnibus Consortium's Property Tax Relief and Reform Act (www.omnibustaxsolution.org):
1. Limit Property taxes paid by individuals based on thier income - property taxes should not exceed more that 6-9% of income and should be on a sliding scale
2. Include renters in the Circuit Breaker
3. Include ALL local taxes in Circuit Breaker (not just school taxes)
4. Have same bracket structure for entire state - do not make NYC different than upstate - if someone has the same income and the same tax burden it does not matter where they live.
4. Require 3-5 year residency requirement
5. Support S 4239 - Krueger Circuit Breaker Bill
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