Padavan tax plan

“I’m hopeful the Assembly will work with us here and pass this legislation. We, as New Yorkers, know this is a good plan and that we need relief from burdensome property taxes,” Senator Frank Padavan said as he announced a three-part, two-year property tax relief plan.
The plan, S.1A passed in the Senate on January 23, if implemented, would triple property tax rebate checks to $3.4 billion in 2008-09, and establish tax rate limits by allowing voters to collect signatures to limit the growth in the local school and municipal tax rates.
The measure also called for the establishment of a Blue Ribbon Commission on Property Tax Reform. The Commission would report at the end of calendar year 2007 on a reform plan for schools and local governments to lower local tax burdens.
It would focus on enhanced accountability, alternative financing methods, governance options, property assessment plans, and tax containment policies. The Commission would also be charged with examining possible alternatives to the real property tax for funding schools and changes to the property assessment system.