Gov. Spitzer's first state budget looks to cut property taxes and increase school aid

Governor Spitzer (D-NY) unveiled his first state budget plan Wednesday, pushing for property tax relief and an increase in school funding. The proposed $120.6 billion budget for the next fiscal year will

News 12 Staff

Feb 1, 2007, 12:40 AM

Updated 6,317 days ago

Share:

Gov. Spitzer's first state budget looks to cut property taxes and increase school aid
Governor Spitzer (D-NY) unveiled his first state budget plan Wednesday, pushing for property tax relief and an increase in school funding. The proposed $120.6 billion budget for the next fiscal year will increase school funding by $1.4 billion and provide $1.5 billion to cut property taxes for New York State residents. There are no tax increases in the budget. Spitzer says he will close tax "loopholes" and eliminate waste and fraud to accommodate the funding for his initiatives.The governor's plan looks to increase school aid by $1.4 billion, which would grow to an extra $7 billion by the 2010-2011 state fiscal year. His plan wants new guidelines to distribute school funds in hopes of ensuring needy schools see a larger share of resources. Spitzer says his plan also "provides overdue property tax relief to middle-class homeowners." His plan would seek to save middle-class families $6 billion over three years. Under his proposal, the state's debt would increase from $48.8 billion to $52.6 billion.


More from News 12
0:32
Hudson Valley veterans honored with flight to visit Washington DC

Hudson Valley veterans honored with flight to visit Washington DC

2:03
Mostly cloudy skies and dry conditions in the Hudson Valley

Mostly cloudy skies and dry conditions in the Hudson Valley

0:27
Officials warn against using gasoline to ignite indoor fires following incident at Croton-on-Hudson residence

Officials warn against using gasoline to ignite indoor fires following incident at Croton-on-Hudson residence

2:23
Candlelight vigil held in Mohegan Lake for missing Westchester teenage girls

Candlelight vigil held in Mohegan Lake for missing Westchester teenage girls

0:24
Police: 1 dead following multi-vehicle crash on Sprain Brook Parkway near Elmsford

Police: 1 dead following multi-vehicle crash on Sprain Brook Parkway near Elmsford

1:39
New Rochelle's Haitian community commemorates Haitian Flag Day

New Rochelle's Haitian community commemorates Haitian Flag Day

1:21
Ardsley hosts inaugural Asian American Pacific Islander Festival

Ardsley hosts inaugural Asian American Pacific Islander Festival

0:17
Authorities: George Washington Bridge climber in custody

Authorities: George Washington Bridge climber in custody

0:49
Dozens protest proposed lithium-ion battery storage facility in Mahopac

Dozens protest proposed lithium-ion battery storage facility in Mahopac

1:43
CDC urges people to get vaccinated amid resurgence of mpox

CDC urges people to get vaccinated amid resurgence of mpox

0:34
Police: 3 suspects arrested following pursuit in Armonk

Police: 3 suspects arrested following pursuit in Armonk

0:25
Goshen man pleads guilty to predatory sexual assault of child

Goshen man pleads guilty to predatory sexual assault of child

1:53
Hudson Valley unites to help Ukraine, continues local efforts to help war-torn country

Hudson Valley unites to help Ukraine, continues local efforts to help war-torn country

0:20
Police: Spikes deployed by officers to stop car during pursuit in Town of Bedford

Police: Spikes deployed by officers to stop car during pursuit in Town of Bedford

0:30
Yorktown Grange Fair to celebrate its 100th anniversary this September

Yorktown Grange Fair to celebrate its 100th anniversary this September

1:48
City of Mount Vernon celebrates and reflects 70 years since landmark Brown v. Board of Ed decision

City of Mount Vernon celebrates and reflects 70 years since landmark Brown v. Board of Ed decision

0:27
Man arrested for hate crime at Kingston synagogue

Man arrested for hate crime at Kingston synagogue

0:31
Westchester County DA: Peekskill man pleads guilty to gunning down man in front of his children

Westchester County DA: Peekskill man pleads guilty to gunning down man in front of his children

0:47
Two Middletown state troopers honored for heroism

Two Middletown state troopers honored for heroism

1:44
Caught on camera: Person seen taking down Israeli flag from Rockland County business

Caught on camera: Person seen taking down Israeli flag from Rockland County business