In the Mid-Hudson Region: More Than 259,000 Homeowners Will Receive Average $1,112 in Annual Direct Tax Relief
Governor Andrew M. Cuomo today detailed projected savings for New York taxpayers as a result of the Property Tax Relief program, which provides 1.3 million homeowners significant financial relief. The $1.66 billion program, which also includes a renters’ credit, is part of the Governor’s 2015 Opportunity Agenda.
“We must ensure economic opportunity in New York – and that means putting money back in the pockets of hardworking homeowners who have been struggling under the crushing burden of property taxes for far too long,” said Governor Andrew Cuomo. “During the last four years, we capped property taxes, and then we froze them. Now we are going to cut them. This program addresses the one of the most important challenges we face as a state – making New York affordable – by providing real, meaningful, significant tax relief that will make a difference in people’s lives.”
When fully phased in, 259,436 homeowners in the Mid-Hudson region will receive an average annual savings of $1,112.
The chart below is a breakdown of relief by county showing the number of homeowners expected to benefit, as well as the total value of the tax relief and the average credit.
Dutchess Total Beneficiaries 36,099 Average Credit $1,005 Total $36,300,000