Sentences with phrase «circuit breaker credits»

The report shows that both programs would provide some property tax relief but the circuit breaker credits are superior to STAR rebates in many ways.

Not exact matches

Like an electrical switch designed to automatically prevent a power overload, a circuit breaker tax credit is supposed to kick in when homeowners» property tax burdens overload their ability to pay.

The governor also is justifying the circuit - breaker credit on the grounds that, because it is linked to the tax cap, it will create an added incentive for localities to remain under the cap.

He didn't use the phrase himself, but the property tax credit unveiled yesterday by Governor Andrew Cuomo is of the type commonly known as a «circuit breaker.»

He says it would also include a tax credit for lower income New Yorkers who pay a high percentage of their wages in property taxes, sometimes called a circuit breaker.

And a Circuit breaker which is a property tax credit to help low and middle income New Yorkers based on their ability to pay.

In addition to recommending the so - called circuit - breaker approach for property taxes and cuts to business taxes such as a complete phase out of the 18a assessment surchage for utilities, the commission called for linking the tax cap, consolidating services and individual tax credits for homeowners.

[11] Rather than limit investment in other needed services to pay for the circuit breaker, the state should generate additional revenues by fixing some of the problems related to last year's corporate tax reform, eliminating or scaling back many of the state's smorgasbord of business tax credits, rejecting the proposed Education Tax Credit, and limiting the increase in the estate tax exemption.

To help with housing affordability, Hawkins said he also supports repeal of the Urstadt Law to establish municipal home rule on rent regulations, rent stabilization coverage for all Mitchell - Lama and project - based Section 8 buildings that have left government supervision, and a rent affordability «circuit breaker» through an income - based tax credit to cap rents at 30 % of household income.

Other reforms Hawkins is calling for include a windfall tax on pharmaceutical companies» opioid wealth, a surtax on high - dollar pass - through income from LLCs and other pass - through vehicles, a clawback of the new federal tax cuts if not used to increase workers» pay, home rule for local income taxes, and tax credit «circuit breakers» to protect low - to - moderate income tenants and homeowners from unaffordable rents and property taxes.