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 6,321 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
2:02
STORM WATCH: Thunderstorms likely for Thursday followed by more summer-like heat

STORM WATCH: Thunderstorms likely for Thursday followed by more summer-like heat

1:52
Crotona Park prepares to host Donald Trump in historic rally

Crotona Park prepares to host Donald Trump in historic rally

0:45
Charter school fires teacher who had inappropriate relations with student

Charter school fires teacher who had inappropriate relations with student

News 12 Book Club

News 12 Book Club

1:51
NYPD hopes to reduce number of shootings by spreading gun violence awareness

NYPD hopes to reduce number of shootings by spreading gun violence awareness

1:52
Public elementary school starts program in effort to prioritize student mental health

Public elementary school starts program in effort to prioritize student mental health

2:07
Officials begin enforcing new time limit rules on asylum seekers in NYC shelters

Officials begin enforcing new time limit rules on asylum seekers in NYC shelters

0:53
Mayor Adams' office responds to FBI investigation

Mayor Adams' office responds to FBI investigation

1:51
Orchard Beach set to open for swimming amid lifeguard shortages as Memorial Day weekend nears

Orchard Beach set to open for swimming amid lifeguard shortages as Memorial Day weekend nears

0:43
36th Fleet Week kicks off in NYC with Salute to Ships at Fort Hamilton

36th Fleet Week kicks off in NYC with Salute to Ships at Fort Hamilton

0:52
Bronx high school students meet with engineering nonprofit in special lab day

Bronx high school students meet with engineering nonprofit in special lab day

1:42
NYPD: Moped driver critically injured in crash into 46-year-old woman on Grand Concourse

NYPD: Moped driver critically injured in crash into 46-year-old woman on Grand Concourse

0:19
Authorities arrest Bronx man in fatal Washington Heights stabbing

Authorities arrest Bronx man in fatal Washington Heights stabbing

1:55
UA Local 1 to offer 5-year paid apprentice program for plumbers for 1st time in 2 years

UA Local 1 to offer 5-year paid apprentice program for plumbers for 1st time in 2 years

0:21
NYPD: 2 men wanted breaking into Taco Bell in South Bronx, stealing $500

NYPD: 2 men wanted breaking into Taco Bell in South Bronx, stealing $500

0:22
Police: Woman wanted for pepper spraying Bronx bus driver

Police: Woman wanted for pepper spraying Bronx bus driver

2:42
Garden Guide: This is why you should grow Geraniums this summer

Garden Guide: This is why you should grow Geraniums this summer

0:14
Search on for missing 80-year-old last seen on Melrose Avenue on Monday

Search on for missing 80-year-old last seen on Melrose Avenue on Monday

1:46
FDNY: Commercial strip fire extinguished in Wakefield; 4 firefighters with minor injuries

FDNY: Commercial strip fire extinguished in Wakefield; 4 firefighters with minor injuries

1:05
Nurse practitioner offers tips to decrease high blood pressure during High Blood Pressure Education Month

Nurse practitioner offers tips to decrease high blood pressure during High Blood Pressure Education Month