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Rebate checks anyone
The program provides a rebate to homeowners whose local governments and schools stay under the property-tax cap which limits the growth in property taxes to less than 2 percent a year.
It's a three-year program that was part of a budget deal that included keeping higher taxes on millionaires and increasing the minimum wage to 9 an hour by the end of 2015.(Photo: Getty Images/Ingram Publishing ).Read or Share this story: /1tM6Uun."For most New Yorkers, Christmas comes voucher templates to print early this year.Cuomo's budget office estimated that the average rebate in 2015 would be 200 upstate and 580 in the New York City suburbs.Last month, the state Department of Taxation and Finance released a 20-page guideline report on the tax freeze.Individuals receiving Medicare Extra Help will not receive a rebate check.It's a three-year program that will result in over.5 billion in direct property tax relief, Cuomo's office said.Cuomo has explained that the goal is to incentive local governments and schools to come up with long-term tax savings.Peter Baynes, executive director of the state Conference of Mayors, contended the program isn't doing much to help local governments cut costs because they gamefly promo code november 2014 have already been finding ways to limit taxes.In late September, the tax department sent out about 1 million checks each worth 350 for people with a child younger than 17 in 2012 who met the income eligibility.The state Department of Taxation and Finance said Cuomo's name won't appear on the checks, they will be signed by the department's commissioner, and there won't be any accompanying message from Cuomo.Obviously people like to receive free stuff even though it really is their money said Blair Horner, legislative director for the New York Public Interest Research Group.The program is limited by the same eligibility as the state's star property-tax exemption: households with adjusted gross income more than 500,000 are ineligible.Critics have knocked the program, saying it benefits the wealthy.The tax department said the checks started going out last week.In 20, the money will come as credits when people file their state income taxes.What you'll get, rebate checks will be flowing to homes across the state starting in late September: If you have children 17 or younger and have an annual income of 40,000 and 300,000, you'll get a 350 check."This is sending more money to wealthy school districts than to poor ones.
The tax cap is about.5 percent this year for schools.