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| PO Box 372, Nesconset, NY 11767 … USA: 800-833-2250 … LI 631-588-6161 | ||
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Web address … www.lischooltax.com … email: info@lischooltax.com |
PRESS RELEASE
Bill A11838 Should be called the Middle Class Long Distance Moving Assistance Bill.
September 2, 2008, New York State Assembly, Leader Silver and his cohorts, played the same tried and true
Albany switch and bate game that has always proven successful in stopping real property tax relief. Bill A11838,
may be touted as a “circuit breaker”, however, it is more aptly titled “the Middle Class Moving Assistance Bill”. The
bill is a farce. It is not an income based maximum tax (circuit breaker). Although the bill offers some tax credit relief
to struggling middle class families it does not offer a fixed maximum tax based on income. The most damming
thing about the bill is it allows uncontrolled spending and property taxes to continue to rise at current rates.
The Assembly majority is following the orders of the New York State United Teachers, Working Family Party, Center
for Working Families, Long Island Organizing Network, Long Island Progressive Coalition and the Long Island
Immigrant Alliance and NYC rent reform groups. Those orders are ... Fool the taxpayers and keep the property tax
money flowing.
Sheldon Silver and the Assembly has to understand continued spending and slight of hand is a recipe for disaster.
No state can succeed when its talented citizens and employers move out of state because of excessive taxes. That
trend can only be stopped by controlled spending and real property tax relief.
Bill A11838 states, taxpayers with incomes at or below $90,000 would be eligible for a refund of 25% of the amount
of taxes that exceed 5% of their income. Renters are also entitled to a similar tax reduction based on the relationship
between income and rent.
Examples
Income $50,000 Current School Tax $10,000 (5% of 50,000 + 25%)= savings $1875 on $10,000. Prop Tax
$89,999 Current School Tax $10,000 (5% of 89,999 + 25%)= savings $1375 on $10,000 Prop. Tax
The bill also states taxpayers with incomes between $90,000 and $125,000 would be eligible to receive a refund of
20% of the amount of real property taxes that exceed 6% of their income.
Examples
Income $90,001 Current School Tax $10,000 (6% of 90,001 + 20%)= savings $920 on $10,000 Prop. Tax
Income $124,999 Current School Tax $10,000 (6% of 124,999 + 20%)= savings $500 on $10,000 Prop. Tax
Renters would be entitled to a similar tax reduction based on the relationship between income and rent.
Taxpayers with incomes above $125,000, but not more than $250,000 would be eligible for a refund of 15 percent
of the amount of property taxes that exceed 7 percent of their income.
Examples
Income $125,001 Current School Tax $10,000 (7% of 125,001+ 15%)= savings $187 on $10,000 Prop. Tax
Income $249,999 Current School Tax $10,000 (7% of 249,999 + 15%)= no savings (1,125)on $10,000 Prop Tax
Bill A11838 http://www.assembly.state.ny.us/leg/?bn=A11838 is a shifting of taxes that does not address spending. It
will be the final straw that forces middle class families to answer the call of the Carolinas.
NYSUT, Working Family Party, Long Island Progressive Coalition, Center for Working Families, Long Island
Organizing Network, and the Long Island Immigrant Alliance deserve to be discredited for their shameful
misrepresentations of A11838. It is time for the Assembly to stop listening to the $Millions of campaign contributions
(http://www.lischooltax.com/Vote-Cope.pdf) and stop the exodus.
F
red GormanThe Nassau County Civic Association, Inc. does not endorse or support candidates for political office.
Any such endorsement or support of a candidate by the Long Islanders for Education reform are their own and do not reflect that of the Nassau County Civic Association, Inc.