Gary D. Finch

FOR RELEASE: IMMEDIATELY                                                             CONTACT: MATT MOYSE (518) 455-5981

ASSEMBLYMAN FINCH APPLAUDS NEW PROPERTY TAX RELIEF LEGISLATION

      Assemblyman Gary Finch (R,C-Springport) yesterday voted in favor of legislation that would provide New York’s homeowners with property tax relief in the form of a tax credit. The legislation was introduced after Gov. George Pataki challenged the constitutionality of similar legislation in the 2006-07 legislative state budget.

     Yesterday’s measure goes on to the governor for his review approval. Finch noted he hopes Gov. Pataki does not challenge this legislation so tax relief can be delivered to New York’s homeowners.

     Finch and other members of the Assembly Republican Conference fought throughout this entire legislative session to provide real tax relief for homeowners. New Yorkers pay some of the highest taxes in the country, and property taxes are astronomical. This legislation would give homeowners real tax relief over the next two years to help lessen
the burden of rising taxes according to Assemblyman Finch.

     Finch reported homeowner savings in 2006 for each of the counties in his district: Broome County, $237; Cayuga County, $195; Chenango County, $195; Cortland County, $186; Tioga County, $183. Senior citizen homeowners are expected to receive even greater property tax relief.

     If Pataki signs the measure into law, homeowners would receive applications by September that they complete and return to the state Department of Taxation and Finance. Applicants would receive an advance payment from the state. Homeowners also have the option of rejecting the advance payment for a tax credit that can be applied to their personal income taxes in April 2007. The following year, homeowners would be able to file for the tax credit as part of their personal income taxes.


                                                                               -30-                                                                     6.12.06