Without the revenue, Paterson seeks linking property taxes to income
Written by Written by Rob Lillpopp on October 30, 2009 – 7:30 am

Joseph Spector writes on today’s LoHud.com -”Gov. David Paterson indicated Thursday he wants state lawmakers to pass legislation that would link property taxes to household incomes as a way to lower New Yorkers’ bills.

There’s just one problem: The state doesn’t have the money to pay for it.

Paterson said Thursday during a meeting of legislative leaders in Manhattan that the state’s two-year budget gap has increased to $10 billion, compared to about $6.7 billion in July.

Paterson has called lawmakers back to the Capitol on Nov. 10 to close the current $3.2 billion midyear budget deficit. He has proposed cuts to health care, education and increases in revenues. He expects to release his midyear fiscal update Friday.”

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