Gov. Andrew Cuomo made a splash on Wednesday by creating a new tax relief commission charged with finding ways to lower the property and business taxes in New York — a task the governor described as Job One for next year’s legislative agenda.
But with another year-old tax commission already in operation, and a tight two-month time frame for both panels to finalize their work, Cuomo’s creation of the new Tax Relief Commission has some insiders scratching their heads.
The move has also prompted questions from both sides of New York’s political spectrum.
Those on the right wonder if property tax relief might be paid for by income taxes, which are supposed to come down for the highest earners in 2017.
“That’s a $3 billion light that’s supposed to snap off,” said E.J. McMahon of the Empire Center, referring to revenues raised by a surcharge on high earners that was instituted in 2011 and is scheduled to sunset in four years. McMahon’s group has long been critical of the income tax increase.
“The only way to do any kind of noticeable property tax relief is to lock in the income tax increase,” he said.
Those on the left wonder if the new commission will end ………..