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Cuomo commission report on NY property tax freeze

Albany, N.Y. (AP) - Gov. Andrew Cuomo's tax commission wants a two-year freeze on property taxes.

The state would subsidize the costs, so taxpayers wouldn't see increases. The second year of a freeze would include provisions to force local action and cuts to yield permanent tax relief.

In a report Tuesday, the commission also proposes a tax credit for homeowners who spend a large portion of their income on property taxes. Other recommendations would merge and simplify taxes for employers and reduce the estate tax.

Cuomo called the report impressive.

The report could help shape the tax cut Cuomo is promising for 2014. He supports a state-subsidized cut in property taxes that could be tied to household income so poorer and middle class families would see more of a break than the wealthier.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 
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