March 6, 2015

Fiscal Policy Institute: Policy Brief: Property Tax Relief (Circuit Breaker)

ITEP Work in Action

Those at the bottom of the income scale [in New York] would benefit most—62 percent of homeowners and 37 percent of renters with incomes below $19,000 would receive a circuit breaker refund according to an analysis of the governor’s proposal by the Institute on Taxation and Economic Policy. Some 27 percent of homeowners and renters with incomes below $106,000 (80 percent of all incomes in New York) would receive a tax cut. Just 12 percent of those earning $106,000 or more—the top 20 percent—would get a refund.

Read the full report here.