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JANUARY 1998

Assembly Republicans propose expansion of property-tax relief

Assembly Republicans have proposed an $821 million tax relief and municipal aid package. The proposal suggests property tax cuts, mandate relief, incentives for economic development, and incentives to encourage municipalities to cut costs through shared service delivery.

Building on the STAR program, which uses state aid to fund exemptions from school property taxes, the proposal would use $600 million of the state's anticipated surplus to fund reductions in city and county property taxes for homeowners.

The plan would offer economic development zone tax incentives to all businesses in cities; and would offer financial incentives and advice to municipalities that would cut costs by sharing services.

January 14, 1998